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Sixfigurecapital

EURGBP APPROACHING THE DEMAND ZONEMy thought on EURGBP, as seen on H4 TF, EURGBP is currently making lower lows and lower highs and approaching the demand zone, the descending price channel confirms this move, am anticipating that it will approach this support level before upward breakout from the resistance, the downward trend will never continue forever, the question is where is the resistance breakout going to occur, Now? or after touching the demand zone? drop your comment below
by TheGreatCapital
Natural Gas - Bearish BatCommodities peaking my interest this week, we've got a textbook bat pattern on the 4h chart for Natural Gas that's in the final stages of the CD leg. The measurements for a valid bat pattern are detailed below. XA Retracement: 0.382 - 0.50 AB Retracement: 0.382 - 0.886 BC Projection: 1.618 - 2.618 XA Retracement: 0.886 There's a butterfly pattern on the 1h chart that aligns with this larger structure, we may utilise this for a lower timeframe entry once the bat pattern PRZ has been confirmed. Looking to jump on this by the end of next week! Safe trading everyone :)
OANDA:NATGASUSDShort
by LewisGlasgow
3
EUR/AUD - Bearish BAMMEUR/AUD is almost ready to go! Bearish BAMM setup has formed on the 4h chart, providing a trading opportunity with a 1:2.33 risk to reward. BAMM trading setups rely on a valid bat pattern, you'll find the relevant measurements below. XA Retracement: 0.382 - 0.50 AB Retracement: 0.382 - 0.886 BC Projection: 1.618 - 2.618 XA Retracement: 0.886 The time proportions of this setup are absolutely spot on so far, we'll revisit this in a few days. Currently waiting for a break and close below 1.63100.
Short
by LewisGlasgow
3
GBP/USD - Bullish BatGBP/USD is currently forming a bullish bat pattern on the 4h chart, providing a trading opportunity with a 1:2.24 risk to reward. The measurements for a valid bat pattern are detailed below. XA Retracement: 0.382 - 0.50 AB Retracement: 0.382 - 0.886 BC Projection: 1.618 - 2.618 XA Retracement: 0.886 All 3 measurements form within a close proximity in the potential reversal zone, as you can see the last number in the zone being a 1.618 alternate AB=CD. Once price pushes lower and confirms the 0.886 measurement we can begin looking at the 1h for an entry. Have a good week everyone!
Long
by LewisGlasgow
3
Bitcoin - Bullish CrabWhat's going on traders, I hope you've all had an excellent weekend. Today I'm bringing you a trading setup that I've been watching unfold over the last few days, and now things are starting to fall into place as price has just re-tested the previously broken support at $10,310. If you're a long time follower of my ideas you'll know that the majority of my setups are based on harmonic patterns, which is the main focus point of today's analysis. We're currently looking at a bullish crab pattern on the 4h chart for BTC/USD completing at $8980 which I've marked as the prime level to buy. The measurements for a valid crab pattern are detailed below. XA Retracement: 0.382 - 0.618 AB Retracement: 0.382 - 0.886 BC Projection: 2.618 - 3.618 XA Projection: 1.618 You may ask why is this the prime level to set buy orders? The main reason behind this is based on how many different measurements form within a close proximity of this price level, it marks an overall correction of 35% from $13,873 and it's at the lower end of our buying range between $9481 and $8818 which is a 7% range from top to bottom. I'm favouring a long-term hold from $8980 when you take into account the move to $13,873 is a 54.60% gain. If you're trading bitcoin based on margin then using several take profit targets is recommended, the first one being $10,310. I'd also pay attention to a break above the resistance trendline, this may indicate the beginning of a move to $13,873. Feel free to comment below if you have any analysis you would like to contribute to this idea. Trade safe everyone!
COINBASE:BTCUSDLong
by LewisGlasgow
6
Bitcoin - Bear Market ComparisonTraders, I believe you will like the facts put forward in today's analysis on the weekly chart for bitcoin, it's a simplistic overview of what I see happening right now. My main focus is the comparison between the current and previous bear market, there are a lot of similarities between both cycles that we can use to our advantage. Firstly I'd like to talk about the overall decline in both market cycles. During 2013 to 2015 bitcoin dropped from $1170 to $150 resulting in a decline of 87% which lasted 413 days. During 2017 to 2019 bitcoin dropped from $20000 to $3140 resulting in a decline of 84.40% which lasted 364 days. The percentage decrease and timespan are extremely similar in both cases, you'll find an in-depth calculation of bitcoins movements from my post regarding cyclical measurements below. Going forward if I find this would be helpful to other traders I may revise and update the measurements shown in "Bitcoin - Cyclical Measurements" so they are more relevant in the current bitcoin market. Moving onto my next focus point in today's analysis... The re-test of weekly resistance following the recently found "market bottom" which can be seen in both cycles as shown in my analysis. Let's take a look at the price action from 2015 to provide more detail on what I'm really looking at. As you can see this level held extremely well prior to price declining to $150, this support turned key resistance prevented a breakout during early July 2015, which was quickly followed up by a decline of 37.70% lasting 49 days. Only after this decline did price experience a breakout and continuation to the upside which resulted in a 2 year bull market and ultimately leading to the current all time high of $20,000 after years of progression. When we take a look at the current price action for bitcoin, it holds a similar structure. The resistance bitcoin is now testing is much stronger than before, this support level held for 9 months with at least 5 separate tests in which it finally broke during November 2018. For anyone looking at bitcoin I would pay close attention to the next few weekly candlesticks, mainly their closing prices and figure out what it is suggesting short-term. It is highly likely bitcoin will fall short at this weekly resistance level and history will repeat itself, the bulls will be put back in their place (for now) and we'll experience a minor correction either to the support trendline or a similar decline to the previous cycle... 37.70%? A smaller correction to the trendline would result in a decline of 20% or less which is unlikely, if a sell-off does happen it's likely it'll break that area and push further towards $4,000. As mentioned this all depends on the price action in the following weeks. This post is open to discussion, feel free to leave your own analysis below.
BITSTAMP:BTCUSD
by LewisGlasgow
44
Binance Coin - Gartley 886What's going on everyone, I hope you all had a great weekend! Today I'd like to provide a short-term technical outlook on Binance Coin (BNB/USD). BNB/USD is in the final stages of forming a bullish gartley 886 formation on the 1h chart, providing a trading opportunity with a 1:2.5 risk to reward. The measurements for a valid gartley 886 are detailed below. B: 0.618 C: 0.382 - 0.886 D: 1.13 - 1.618 X to D: 0.886 (Only applies when AB=CD completes beyond 0.786) The reversal may well take place at the 0.786 retracement but the better option would be to wait on the lower entry level. This setup should be executed in real time based upon the price action that follows the confirmation of the potential reversal zone. My main focus is 22.27, once price tests this area I'll be dropping down to the 15m chart to look for an entry. If price starts slowing down and consolidates in the current area it'll be unlikely I'll take the trade (I've provided an example below). We experienced this type of price action around the C point as shown. Remember to keep your risk in check, don't set any pending orders at 22.27 this should be executed and managed in real time. Let's have a good week of trading!
BINANCE:BNBUSDLong
by LewisGlasgow
6
Litecoin - Bearish BatLitecoin has now confirmed the potential reversal zone for the bearish bat on the daily timeframe, I've been monitoring the progress of this setup for several weeks and watched the C to D leg materialise. This opportunity is purely based on technical measurements and the reasoning for a market correction is perfectly logical. Let's quickly review the previous price legs which lead us to the current price. The price leg from A to B measured an overall increase of 87.99% over 32 days. This was soon corrected by an exact 30% decrease in the B to C movement lasting only 14 days. Our focus is primarily on the C to D leg which seen a 116.82% increase "ending" at the confirmation of the 0.886 XA measurement, this move lasted a total of 55 days. My expectation is that we will see a near term correction to the 0.382 retracement resulting in a 24.82% correction. Ultimately based on whether the reversal takes place the optimal target is the 0.618 retracement with a 40.16% decline. Pay attention to the structure shown below on the daily chart, this provides a basic indication of how price is currently moving. Once the reversal takes place I would monitor the support trendline in order to confirm a continuation to the 0.618 retracement. That's it from me! Enjoy your weekend when it comes :)
BITFINEX:LTCUSDShort
by LewisGlasgow
3
XAU/USD - Bearish BatTraders, today we have XAU/USD on the daily chart with a valid bearish bat pattern. 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 XA Retracement: 0.886 Price has yet to confirm the PRZ which consists of a 1.618 AB=CD, 2.618/3.14 BC and 0.886 XA retracement. Once the final 0.886 measurement has been confirmed we need to analyse price action in this zone to determine the extent of the reversal. Have a good week everyone!
OANDA:XAUUSDShort
by LewisGlasgow
20
AUD/NZD - Bullish BatTraders, today we have AUD/NZD on the 15m chart with a valid bullish bat pattern. 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 XA Retracement: 0.886 Price has yet to confirm the PRZ which consists of a 1.618 AB=CD, 2.24 BC and 0.886 XA retracement as the final ratio. Once the final 0.886 measurement has been confirmed we need to analyse price action in this zone to determine the extent of the reversal. Have a good week everyone!
Long
by LewisGlasgow
2
FTSE 100 - Bullish 5-0The FTSE 100 is shaping up nicely on the 4h chart, I'm expecting this bullish 5-0 formation to complete within the next few weeks at the 50% retracement level. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 We will be trading with a stop loss below the 0.618 retracement level at 7240. If we execute the trade, target is 7896. You guys know what to do... Like, comment and share! More analysis on the way.
TVC:UKXLong
by LewisGlasgow
2
S&P 500 - Bullish AB=CD BAMMBullish AB=CD BAMM opportunity is now shaping up on the Standard and Poor's 500 index on the 4h chart. This one to one measured move looks excellent, the AB=CD completion is beyond the ATH at 2877, this is complemented by the reciprocal ratio of 0.5 which is the 2.0 projection. I'm expecting price to break resistance @ B followed by an acceleration in price action towards the pattern's completion. This move needs to be assessed in real time and we cannot use any limit orders, analyse price action upon the breakout of 2792 to determine the continuation. We will be trading with a tight stop loss if executed, target is 2892. You guys know what to do... Like, comment and share! I'll keep you all posted :)
SP:SPXLong
by LewisGlasgow
15
EUR/USD - Two Potential Setups (Gartley and Deep Crab)Quick post ahead of market open, I'm looking at EUR/USD on the 1h chart with a bearish gartley and bearish deep crab pattern. The first formation we will need to assess in real-time upon completion is the bearish gartley, we need to determine if the reversal will take place @ 1.17800 or 1.18415. I will be focusing on the 15m and 4h chart to back up my analysis and optimise entries. As always I will keep you posted on the patterns progress and if the trade is executed! I'm still short on EUR/JPY. You guys know how it goes... Like, comment and share ;) have a good week!
Short
by LewisGlasgow
38