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EUR/JPY - Bullish ABCDThere are some amazing setups forming on the charts, here we have EUR/JPY on a Daily chart with an AB=CD pattern. Straight away this could be an excellent shorting opportunity from the C-D leg move, we will also have a potential long position in the near future upon completing the D leg. We are bearish on this pair as long as price stays beneath the descending trend line and 200 EMA. Once price hits our C point I will be looking for a short position, breaking our counter trend line!
Short
by LewisGlasgow
NZD/CHF - Bearish CrabToday we are looking at NZD/CHF on a 4h chart with a potential bearish crab, I'm loving the look of this setup already. The measurements for a valid crab pattern are detailed below. B: 0.382 - 0.618 C: 0.382 - 0.886 D: 2.618 - 3.618 Final X to D: 1.618 As you can see from previous price movement our pair has trading within a zone, I would like to see price push out of this area to hit our D point completing the bearish crab pattern at 0.70000 then stall out before making a move lower. I am aware there are other harmonic patterns shaping up within the same chart such as a bearish bat but this is the one I'm watching.
Short
by LewisGlasgow
GBP/JPY - Bearish CypherHere we have another harmonic pattern shaping up, this time we are looking at GBP/JPY on a 4h chart with a potential bearish cypher pattern. The measurements for a valid cypher are detailed below. B: 0.382 - 0.618 C: 1.272 - 1.414 X to D: 0.786 I'll be expecting a spike up to hit our D point, completing our pattern then a sharp move to the downside. I am aware there is also a valid harmonic pattern on the 1h chart which I have seen posted 10+ times on here today but to me this cypher pattern looks very promising.
Short
by LewisGlasgow
5
GBP/USD - Inverted Head and ShouldersToday we have GBP/USD on a Daily chart forming an inverted head and shoulders pattern, this is similar to one of my previous posts but the pattern is flipped. As you can see price has recently formed the right shoulder, ready to make a move towards the neckline. If price starts moving lower, breaking support we may be forming a bullish cypher pattern instead, the link to this idea can be found below! As always feel free to share any complimentary analysis and leave your opinion on this pair.
Long
by LewisGlasgow
8
EUR/CAD - Bearish BatHere we have another harmonic pattern shaping up, this time we are looking at EUR/CAD on a 1h chart with a potential bearish bat, this is looking very promising. 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 a reversal between 1.48400 & 1.48700 which would complete our D point. If you have any additional analysis on this pair please feel free to share it below.
Short
by LewisGlasgow
6
EUR/GBP - Bullish CypherToday we are looking at EUR/JPY on a 4h chart with a potential bullish cypher pattern, this looks very promising and it has an amazing risk:reward. The measurements for a valid cypher are detailed below. B: 0.382 - 0.618 C: 1.272 - 1.414 X to D: 0.786 As you can see from previous price movement our pair has been trading within a confined area, I'll be expecting a spike below our D point to hit support, completing our pattern then a sharp move to the upside!
Long
by LewisGlasgow
7
GBP/JPY - Trend ReversalToday we have one for the trend traders on a Weekly chart with GBP/JPY. Straight away you can see price has broke the lows of 2015 and 2014, continuing down into the 155.000 area before retracing. We are now trading below the 200 EMA which I consider a major confirmation for a trend reversal, if we start trading above it this setup would be considered invalid. I'll be going into the lower time-frames for additional analysis, there is a lot of picture perfect setups already including a head and shoulders on the 4h chart.
Short
by LewisGlasgow
20
JPY/NOK - Bearish Three DrivesHope everyone enjoyed their weekend, let's get into the charts ready for the week ahead. Here we have JPY/NOK on a Daily chart forming a three drives pattern, as we can see from previous price movement the pair has been trading within a channel. The three drives pattern is one of my favorites, when trading them it’s important to take a step back and look at where you are in terms of the overall flow of the market. Typically this pattern forms with trend, in this situation it's an uptrend. The measurements for a valid three drives pattern are detailed below. A-C: 1.272-1.618 X-B: 0.5 - 0.886 C-E: 1.272 - 1.618 B-D: 0.5 - 0.886 We are approaching a key level of resistance around the 0.07900 area just below our E point, the chart is shown below. There are also a variety of M patterns forming on different time frames. Once we complete the E leg we will be entering a short position, if you have any additional analysis on this pair please feel free to comment below.
Short
by LewisGlasgow
CAD/JPY - Three Dimensional ViewThese moves are not measured, they are simply displayed to show the correlation between each market. The charts shown are listed below: Top: CAD/JPY on a Daily chart Middle: USOIL on a Daily chart Bottom: NKY on a Daily chart Additional: The same pattern can be found on multiple charts and markets, including SU and HSE. The weekly crude oil inventory report will be released on March 23rd. I can see the Japanese Yen gaining strength, comparing other currency pairs such as GBP/JPY and EUR/JPY paints a picture for direction. In addition there is always a fear for crude oil at around 40, this chart relates heavily to my idea posted on crude oil earlier this week, taking the formation of a bullish 5-0. You can view this in the link below! Feel free to leave any additional analysis on this idea.
Short
by LewisGlasgow
EUR/JPY - Bullish GartleyToday we are looking at EUR/JPY on a 4h chart with a potential bullish gartley, this pattern has taken shape on several time frames. The measurements for a valid gartley are detailed below. B: 0.618 C: 0.382 - 0.886 D: 1.272 - 1.618 Final X to D: 0.786 As you can see from previous price movement our pair has been trading within a confined area before breaking out of this range to make our A point. I'll be expecting a spike below to complete our D leg then a sharp move to the upside!
Long
by LewisGlasgow
12
AUD/NZD - Trend ReversalHere we have AUD/NZD on a Weekly chart with a potential reversal in trend. Every indicator we need to predict a reversal setup is confluent on this chart as you can see above! Price needs to breakout from the crucial 1.14200 resistance to confirm the change in market sentiment. This will correlate with everything detailed below: The weekly bearish trendline. The 2015 highs. The 200 weekly EMA. We will see how this one plays out, I'll be looking for chart patterns on the shorter time frames for additional analysis.
Long
by LewisGlasgow
1
CAD/JPY - Bearish CrabToday we are looking at CAD/JPY on a Daily chart with a potential bearish crab, I'm loving the look of this setup already. The measurements for a valid crab pattern are detailed below. B: 0.382 - 0.618 C: 0.382 - 0.886 D: 2.618 - 3.618 Final X to D: 1.618 As you can see from previous price movement our pair has been pushing lower since July 2015 creating a trendline, I would like to see price spike up to hit our trendline and D point completing the bearish crab pattern at 92.000 then stall out before making a move lower. Want to learn more? Check out my Instagram for additional trading content: @lewglasgow
Short
by LewisGlasgow
2
AUD/JPY - Bearish BatI'm loving all of the Japanese Yen pairs at the moment, here we have AUD/JPY on a 4h chart forming a potential bearish bat pattern. The same pattern has also taken shape on the Daily chart. 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 PRZ: Once completing the D leg at 85.200 I can see price starting to stall out before making a move to the downside. Take Profit: My first take profit zone will be in line with our B point at 82.150, the second take profit will be at our C point around 79.800 which is a key level of support. We will see how this plays out, as you can see from the 4h chart below the pair has been down trending from some time with huge swings in the market. In order for our bearish bat to be a valid pattern we need to break this trendline driving prices up into the 85.000 area! As always feel free to leave any additional analysis :)
Short
by LewisGlasgow
4
GBP/JPY - Bearish Alt BatQuick market analysis for GBP/JPY on a 4h chart as always, we have a potential bearish alt bat. As we all know this pair moves fast, at times 100+ pips per hour and this is one of the many reasons why it is my favourite pair to trade! We have an overextended D point at 166.000 for one simple reason, the pair has been trending within a channel. I'm expecting price to make a turn for the downside between 165.000 to 166.000 but I would like to see a spike up to hit our D point! Overall this is shaping up to be a huge trading opportunity. Want to learn more? Check out my Instagram for additional trading content: @lewglasgow
Short
by LewisGlasgow
2