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Ripple - Cup and HandleUpon finding this cup and handle pattern it reminded me of my previous idea for ETC/USD (chart is shown below). The pattern above was absolutely perfect, we saw a move from $2.50 to $5 within a matter of weeks. Now, I'm expecting the same for XRP/USDT a move from $0.05 to $0.075 before stalling out and forming a descending channel (the handle). Once we see this happen I'll be paying close attention to candlestick formations and price structure for a potential breakout to the upside, if successful we will see a move to $0.12. Over two weeks ago I posted my view on the 1h timeframe, I noticed that price was respecting the 0.618 and 0.786 retracement levels (chart is shown below). Since then, price dropped down to the 0.786 retracement level one more time before skyrocketing. To further validate the move up to $0.12, check out my analysis on the daily timeframe below. I've got plenty more analysis on the way, keep supporting my ideas and don't forget to add me on social media!
Long
by LewisGlasgow
188
Bearish butterfly/5-0 GBPCADThe Daily Chart on the GbpCad is providing a very bullish set up. If price reaches the D point of the butterfly I will be shorting until the 50% retracement from C-D (where the 5-O completes). There shouldn't be any fundamental intervention until Bank of Canada Governor Stephen Poloz Speech in Mexico on the 4th of May; until then price will flow naturally. Butterfly Ratios B: 0.786 C: 0/382-0.886 D: 1.618-2.24 xD: 1.272 5-o Ratios B(3):1.13-1.618 C(4):1.618-2.24 D(5):50%
by KyleMcQuade
CAD/CHF - Bearish 5-0Hello, traders! I hope everyone had a great weekend. I am PUMPED for the week ahead! Here, we have a bearish 5-0 pattern on the 4h chart with the CAD/CHF. The Canadian Dollar is looking bullish on all charts this week. With price beginning to reverse at the C point, which is a strong support/resistance zone, we can look for price to make its way up to D point. The level in the market we are looking for a reversal in price is 0.7424 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
Bearish 5-0 USDJPYHere we have a bearish 5-0 on the dollar-yen. Price is in a downward channel which has also provided a reciprocal AB=CD within the same pattern; the AB and CD waves are completely symmetrical. Price has already touched the 50% retracement and has began to stall- I have taken a short position and will hold until 108.3. My original stop loss was at 112.7, but decided to round it to 113. The only way price will touch 113 is if it is going to be broken! Price is at a key resistance point but I have gave breathing space for price to pivot before dropping or hitting the top of the cannel. Rec. AB=CD Ratios C: 1.13-3.618 D: 0.382-0.886 5-0 Ratios B: 1.13-1.618 C: 1.618-2.24 D: 50%
Short
by KyleMcQuade
EUR/AUD - Bearish BatFollowing up from my successful prediction for EUR/AUD -0.01% (chart is shown below), price has now formed a valid bearish bat pattern on the 4h chart. The move last week resulted in a profit of almost 300 pips! Now onto the chart in hand, this bearish bat has a potential profit of almost 600 pips... This is not a move I want to miss. The measurements for a valid bat pattern are detailed below. B: 0.382 - 0.50 C: 0.382 - 0.886 D: 1.618 - 2.618 Final X to D: 0.886 I'll be expecting price to break the daily trendline and spike up to hit the D point around 1.46000 before stalling out. If you want an insight on the bigger picture, take a look at my analysis on the daily chart below. We may see a sell-off from the trendline but if a breakout occurs this bat pattern will more than likely fall into place. Feel free to connect with me below for more trading related content :)
Short
by LewisGlasgow