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Sixfigurecapital

EUR/AUD LongOver the weekend I am looking to get a lot of charting done. First I am looking at a long 5-O position on the euro/aussie on the daily timeframe. Price has spiked against the weekly trend line, which I expect it will do so again. I used the XABCD tool to map the 5-O; where our B point would be on the pattern (C point on the tool) is a solid 1.618 extension of the previous wave. Due to the precise nature of the pattern, I expect the reversal to be just as accurate (our C point being almost perfectly at the 1.618 or 2.24 extension levels). Once price rallies and reverses from the C point, we will wait for a long entry within the 50% reversal zone! By time price reaches our D point as planned, I expect price volatility to have calmed after the french election- it should be stable enough to take an entry (especially being on the daily timeframe). You can clearly see that there is a history of support/resistance between 1.45 and 1.49. Ps. We will for sure be looking for a reciprocal AB=CD within the 5-O as it develops. 5-o Ratios B:1.13-1.618 C:1.618-2.24 D:50%
Long
by KyleMcQuade
Ripple - Time to ShineI'm bringing you guys something entirely new on Ripple, this cryptocurrency is one that has definitely become more and more appealing over the past couple of months. The setup in front of you today is on the daily timeframe :) feel free to check out my previous post for Ripple (chart is shown below). Price is still respecting the 0.618 and 0.786 retracement levels, use these to your advantage when entering a position. Now onto the bigger picture, the curve presented on the chart can be seen across various financial markets and is simply a representation of an asset becoming less valuable over a long period of time. As price is pushed towards the lowest possible value there are three potential outcomes: 1. Ripple will crash (highly unlikely). 2. It will continue to trade below the curve. 3. Experience a huge breakout to the upside (of course, this is what happened at the beginning of April). Since the breakout price has closed at the highest level in the past 2 years, I'm expecting the next move up to align with the all-time high, exceeding the previous high. This post was merely an introduction to the technical side of Ripple, but I hope you gained a lot of insight from this short piece of analysis. Updates to follow! Don't forget to add me on social media :)
Long
by LewisGlasgow
15
XAU/USD - Bearish GartleyThere are some amazing setups forming on the charts, here we have XAU/USD on the 4h chart with a bearish gartley. The measurements for a valid gartley pattern are detailed below. B: 0.618 C: 0.382 - 0.886 D: 1.272 - 1.618 Final X to D: 0.786 This is a potential outcome for this pair, I would analyse the higher timeframes for direction before entering the move. If you want more trading inspiration be sure to connect with me on social media :)
OANDA:XAUUSDShort
by LewisGlasgow
20
BitShares - The CurveI'm back with another market insight on cryptocurrencies, today I'm on the daily chart with BTS/BTC. This idea is extremely similar to my post yesterday with Ripple (chart is shown below). Again, just like XRP this cryptocurrency is one that has definitely become more and more appealing over the past couple of months, especially now because of the potential return short and long term. The curve presented on the chart can be seen across various financial markets and is simply a representation of an asset becoming less valuable over a long period of time. As price is pushed towards the lowest possible value there are three potential outcomes: 1. BitShares will crash (highly unlikely). 2. It will continue to trade below the curve. 3. Experience a huge breakout to the upside. I'm expecting a big move up this year! I'll be using the three key zones highlighted in grey as an indication to where price will stall before continuing the move up. This post was merely an introduction to the technical side of BitShares, but I hope you gained a lot of insight from this short piece of analysis. Updates to follow! Don't forget to add me on social media :)
Long
by LewisGlasgow
50
USDJPY ShortPrice on this pair has reached a level of resistance and, according to the cypher pattern, should almost be ready for a short. We have NFP coming out so we will not take any trades until after the initial reaction simmers, but going into next week this will be a pair to watch! There seems to be a support level surrounding the 38.2% retracement level form C to D; once price drops to 112.7 I will adjust my stop loss to 113.8- bulletproofing and ultimately guaranteeing no losses from the trade. Final TP at 61.8% as always. Cypher ratios: B: 0.382-.618 C: 1.272-1.414 xD: 78.6%
Short
by KyleMcQuade
XAG/USD - Shark and 5-0Hello traders, here we have a bullish shark pattern and bearish 5-0 pattern on the 4h timeframe with XAG/USD. Price is currently completing the C point of the bearish 5-0 at the minimum 1.618 level which aligns with a valid bullish shark, although it could drop further before making a move towards the PRZ. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 This is an early prediction, I'll be analysing this pair further once it approaches 15.68000. I hope you all have an amazing weekend when it comes!
OANDA:XAGUSD
by LewisGlasgow
6
NZD/CAD - Bullish 5-0 + GOLDEN RATIO x2 + 50% RETRACEMENT X2Hello, traders! This set up is looking too good to pass! Here we have a bullish 5-0 on the 4H chart with NZD/CAD. Absolutely nothing but GOLDEN RATIOS & 50% RETRACEMENTS. With price making its way up to C point (0.96176),we will look for price to reverse and make it way down to D point (0.93955) and completing the pattern. It should be noted that C point (0.96176) is a strong support/resistance zone in the market. Risk/Reward Ratio - 1:3.5 The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50
Long
by cdschultheis15
2
NZD/CHF - Bearish 5-0Hello, everyone! I hope everyone week is going well. Today, we are looking at a bearish 5-0 on the 1D chart with the NZD/CHF. Price is making its way down to C point measuring in at 1.618, which is also a very strong support and resistance zone for this pair. With price reversing at C point, we can look to place a position at the 0.50 retracement coming in around 0.7024 Risk/Reward Ratio - 1:3 The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50
Short
by cdschultheis15