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Lewisglasgow

AUD/CHF - Bearish ButterflyIt's a Sunday night, we have an amazing week ahead of us let's start off with AUD/CHF on the 4h chart which is forming a bearish butterfly. As you can see from previous price movement our pair is creating a channel, I would like to see price spike up to hit our D point completing the bearish bat pattern at 0.74700 then just drop straight back down. If the pair is struggling to push higher it may stall out at our 2.618 retracement then start to make a move to the downside, we'll see how this one plays out.
Short
by LewisGlasgow
3
NZD/JPY - Bearish GartleyWe are on the Daily chart for NZD/JPY and I'm loving what I see going on, we have a very nice 'W' shaping up which is most likely going to be a bearish gartley formation. Measurements: I have removed the Fibonacci Retracement to keep the chart clean and simple. First off measuring from X to A this has given me my B point at 0.618. To get our C point I have gone from A to B which has given me a spot on 0.886 retracement, the wicks are over extended in this area. Then a measure of the D point going from B to C which puts it in the area of 1.13-1.618 for the completion of the D leg. The final measurement going from X to A once again to measure the connection between X and D which is 0.786. All of this is screaming a bearish gartley to me! PRZ (Potential Reversal Zone): At the completion of the D leg I can see price stalling out just below 81.000 before making a move to the downside. Take Profit: My first take profit zone will be around the 79.000 area to meet the level of the B point, second take profit will be at our C point between 75.000 and 74.000. This ties in nicely with the weekly chart shown below, as you can see price has continuously hit our C point around 75.000 and 74.000 (my projected take profit) in an effort to break below this crucial level of support.
Short
by LewisGlasgow
GBP/USD - Retesting 2009The GBP/USD monthly chart, clearly illustrates that price has been stuck in consolidation from the year 2009. Recently price has been falling sharply, heading towards the 2009 lows of 1.35000 to test it. If we break this crucial level of support it means price is finally out of this range, bulls are out and the bears are in ready to drive the price lower between 1.30000 and 1.20000. Stay tuned, I'll be posting regular analysis across all major currency pairs.
Long
by LewisGlasgow
4
GBP/USD - Bullish ABCDThere are some amazing setups forming on the charts, here we have an AB=CD pattern on a Daily chart for GBP/USD. This post will tie in nicely with my long term prediction on the currency pair! Straight away this would be an excellent long position in the near future, the C point came into the 0.5 Fibonacci Retracement (feel free to draw in the retracement levels) which gives it a BC projection for the D point at 2.0 which is right around 1.35000. If you read my previous post regarding GBP/USD on the monthly chart it is ready to retest the support level of 1.35000 back in 2009, the chart is shown below. This pair could go two ways. 1. Price will hit the 1.35000 area, finally breaking the crucial level of support created back in 2009 then meaning the pair will push lower to between 1.30000 and 1.20000. 2. Hit the 1.35000 area to complete our AB=CD pattern, start to stall out on support and bounce back up to 1.46000.
Long
by LewisGlasgow
3