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USD/CAD - BreakoutToday we're taking a look at the recent breakout with USD/CAD on the daily chart. You can clearly see price has been trading within an ascending channel since mid 2015, creating multiple levels of support and resistance. Price has just broken out of this channel and closed below the trendline on Thursday/Friday, thus confirming a long-term shorting opportunity. We may encounter a retracement to the trendline before continuing the move lower! I'll be looking for extra validation on the lower timeframes this week.
Short
by LewisGlasgow
3
GBP/JPY - Bullish 5-0I'm getting ready for the weeks ahead, make sure to keep this one on your watch list! Here we have GBP/JPY on a 4h chart with an excellent buying opportunity if price continues to drop going into 2017. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 If we can complete our C point this move will take place in the forthcoming weeks, as always feel free to share any complimentary ideas and leave your opinion on this pair below.
Long
by LewisGlasgow
20
How to Trade the Head and Shoulders PatternHow to Trade the Head and Shoulders Pattern Hello traders, following up from my previous educational post I received several requests via private message for my take on the Head and Shoulders pattern. Featured on the chart is an illustration of a complete Head and Shoulders pattern including the rules I personally use to trade it. This is an easily identifiable pattern which can be traded across various timeframes which means it can be used by day traders, swing traders or even position traders. Why the Head and Shoulders pattern? It has an excellent risk:reward Appears on all timeframes and markets Easy to remember and find It has a precise entry, stop loss and take profit This formation is mainly seen at market tops. It is rarely perfect in appearance and you may need a good eye to spot one (check my head and shoulder trading ideas for an example). You can draw this pattern by using the TradingView tool found on the chart section named "Head & Shoulders" or by using trendlines. From personal experience the best performing Head and Shoulders pattern will have a right shoulder that is a 0.618 retracement of the head. The correct way to trade this pattern is to wait until the entire pattern has formed, then once price closes below the neckline... You can enter your position :) To round off this post I truly hope this explained how to trade the Head and Shoulders pattern so you can use this for your own trading. I am available via private message for any questions you may have.
Education
by LewisGlasgow
3
The 14 Stages of Investor Emotions"Master your emotions and you'll master the market" Hello traders, after receiving a lot of positive feedback from my TradingView educational posts I thought today I would break down a subject on trading psychology with the 14 stages of investor emotions. Learning how market cycles operate can be extremely beneficial to your trading, understanding the true influence of fear and greed. But... Controlling your emotions within the market is your main 'personal' objective, becoming an emotionless trader. It's what we're all told from day one right? 90% of trading is purely psychology. It is the main reason why so many traders fail as they let their trading become over-ruled by their emotions, thus making irrational decisions. Many traders will never overcome their inherent emotional biases, therefor you should seek to understand the range of emotions we may experience as investors and how it affects our interactions within the market. 1. Optimism: A positive outlook encourages us about the future, leading us to buy assets. 2. Excitement: Having seen some of our initial ideas work, we begin considering what our market success could allow us to accomplish. 3. Thrill: At this point we investors cannot believe our success and begin to comment on how smart we are. 4. Euphoria: This marks the point of maximum financial risk. Having seen every decision result in quick, easy profits, we begin to ignore risk and expect every trade to become profitable. 5. Anxiety: For the first time the market moves against us. Having never stared at unrealised losses, we tell ourselves we are long-term investors and that all our ideas will eventually work. 6. Denial: When markets have not rebounded, yet we do not know how to respond, we begin denying that we made poor choices. Our "long-term" view now shortens to a near-term hope of an improvement. 7. Fear: The market realities become confusing. We believe our positions in the market will never move in our favour. 8. Desperation: Not knowing how to act, we grasp at any idea that will allow us to get back to breakeven. 9. Panic: Having exhausted all ideas, we are at a loss for what to do next. 10. Capitulation: Deciding our assets will never increase again, we close all of our positions to avoid any future losses. 11. Despondency: After exiting the markets we do not want to trade ever again. This often marks the moment of greatest financial opportunity. 12. Depression: Not knowing how we could be so foolish, we are left trying to understand our actions. 13. Hope: Eventually we return to the realisation that markets move in cycles, and we begin looking for our next opportunity. 14. Relief: Having bought an asset that turned profitable, we renew our faith that there is a future in investing. To round off this post I truly hope this provided a more in-depth insight to the emotions which can occur during trading. I am available via private message for any questions you may have.
Education
by LewisGlasgow
33
NZD/JPY - Bearish 5-0 & Bearish Deep CrabI hope everyone had a great weekend! The markets are looking as good as ever! Today, to start off the week, we have NZD/JPY on the 1W chart. This is looking great for the long term! In the up turn of the market, we have been hitting some resistance the past couple weeks. At this point, we are seeing the completion of a BULLISH 5-0 and a BULLISH DEEP CRAB pattern. With the two harmonic patterns completing at this point, along with the market hitting the resistance of this current trend line, we can expect a HUGE price reversal VERY SOON. This will be a good one to hold onto for the weeks to come! The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 The measurements for a valid deep crab pattern are detailed below. B: 0.886 C: 0.382 - 0.886 D: 2.0 - 3.618 Final X to D: 1.618
Short
by cdschultheis15
1
NZD/CHF - Bearish 5-0Hello traders, here we have another 5-0 pattern but this time on the 4h timeframe with NZD/CHF. Once the market opens I will be looking for extra confirmation to enter this trade, I'm expecting price to sell-off right down to the daily trendline near the C point. This is an excellent shorting opportunity with over a 1:2 risk to reward. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 I hope your week is full of profit, safe trading everyone!
Short
by LewisGlasgow
NZD/JPY - Bearish BatThere are some amazing setups forming on the charts, here we have NZD/JPY on the 1h chart with a potential bearish bat. Excellent opportunity we will be trading with over 1:2 or 1:4 risk to reward depending on your take profit level. 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 looking for extra confirmation once we approach our D point, I'm watching this pair heavily going into a new week.
Short
by LewisGlasgow
XAU/USD - $1249 to $1088Following up from Donald Trump's speech yesterday I'm expecting the U.S Dollar to continue weakening short term, thus providing excellent opportunities across the board. Here we have XAU/USD on the daily chart with a bearish 5-0 pattern, I have been closely watching this structure since mid December 2016. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 I'm expecting price to reach the D point at $1249 just above the trendline and create a lower high in the market. I'll be going short from this area all the way down to the support level at $1088. In addition to the bearish 5-0, price is now approaching the 200 EMA (as shown below) near my projected reversal zone at $1249. Keep this one on your watch list!
OANDA:XAUUSDShort
by LewisGlasgow
10
AUD/USD - BEARISH 5-0 ----TITLE CORRECTIONLots of opportunity on the charts to start off they year! Here at Six Figure Capital, we are all taking advantage of all the opportunities!!! Today, we are looking at AUD/USD on the 4h chart. Price seems to be trending down, and within the down trend a BEARISH 5-0 seems to have completed in the 0.7360 zone. Throughout my studies of this pattern, it seems to be very common for price to hit the 0.5 mark and then flirt between the 0.5 and 0.618 before the price reversal actually hits. When price breaks below the 0.5 mark, then we can look to enter a position. Referring to @Lewglasgow analysis of this pattern, price is also hitting a trend line in the down trend of this pair. Now, we just play the waiting game... 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
AUD/USD - Bullish 5-0Lots of opportunity on the charts to start off they year! Here at Six Figure Capital, we are all taking advantage of all the opportunities!!! Today, we are looking at AUD/USD on the 4h chart. Price seems to be trending down, and within the down trend a bullish 5-0 seems to have completed in the 0.7360 zone. Throughout my studies of this pattern, it seems to be very common for price to hit the 0.5 mark and then flirt between the 0.5 and 0.618 before the price reversal actually hits. Referring to @Lewglasgow analysis of this pattern, price is also hitting a trend line in the down trend of this pair. Now, we just play the waiting game... 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
2
NZD/USD - Bullish Bat + Descending Channel **ANOTHER ONE**WE GOT ANOTHER ONE! Today, we have the NZD/USD -1.02% on the 1W chart. It looks like we have potential for ANOTHER bullish bat! LOTS of confirmation on this analysis! The pattern is forming within the ascending and descending channel . For all you fundamentals out there, the U.S. will be raising rates 3 more times this year. That means price will be going down, which explains the descending channel 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
Long
by cdschultheis15
NZD/USD - Bullish Bat + Descending ChannelHello, everyone! Happy New Year!!! Coming into the new year is looking good! So much potential in the markets!!! Today, we have the NZD/USD on the 1D chart. Here in the months to come, it looks like we have a bullish bat pattern forming. LOTS of confirmation on this analysis! The pattern is hitting critical points on trend lines within the ascending and descending channel. For all you fundamentals out there, the U.S. will be raising rates 3 more times this year. That means price will be going down, which explains the descending channel 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
Long
by cdschultheis15
CAD/CHF Bullish 5-0 400+ pips!!!Here we have the CAD/CHF on the 1D chart. We are looking for price to hit and reverse at either C point, then touch at the respective D point to complete the bullish 5-0 pattern. It should be noted that price has the potential to bounce in between either C point. In that case, we can adjust our D point accordingly. This one is looking good for the weeks ahead! Definitely one to keep an eye on! The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 I would really appreciate any feedback on this trade. Other ideas are more than welcome as well! Comment below! vv
Long
by cdschultheis15