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AUD/NZD Bullish SharkGood afternoon guys. Doing some generic charting today, I am looking at this bullish shark pattern. This pattern is a long way away from hitting, but will be a good buy for some position traders if price hits the expected PRZ. The PRZ is aligned with strong support on the weekly and monthly time frames. There will also be potential for this pattern to turn into a bearish 5-O. I will update the analysis when this occurs! Shark ratios: C = 1.13-1.618 D = 1.618-2.618 X to D = 0.886-1.13 Have a look at the overview below for my overview of the pair! Thank you.
Long
by KyleMcQuade
MaidSafe - Bullish BatThroughout its lifetime MaidSafeCoin has been seen to have one of the most solid structures among the altcoins; MAID is now approaching the all time low, where it should find a level of solid support. Going into the spring we are expecting the cycle to start again with a rush of buyers flooding the market in the coming months after a period of serious correction. With this in mind I have been looking at a potential bullish bat formation in a similar area to the all time low. As with all bat patterns I am looking for not only the PRZ to be tested, but for candle sticks to tell me where the market is going. A break in the bearish trendline would also be beneficial. Bat Ratios B = 0.382-0.5 C = 0.382-0.886 D = 1.618-2.618 X to D = 0.886 As always, use the ratios above to draw up your harmonic , and keep the risk at a 1:2 minimum. In this example I am using 1:3 as we have more returns, but with price still below previous support. Good luck everyone!
Long
by KyleMcQuade
3
BTCUSD Bullish ButterflyHi guys, tonight I am looking at a bullish butterfly on Bitcoin/USD. On the way up back in June 2017 we saw BTC hit resistance at the $7600 level, which them turned to support before price continued northward. Our PRZ lands at the $8200 mark, where price briefly bounced for 5 days back in November before proceeding to create new highs. As you can see from my previous bitcoin trade, these earlier support levels are holding well, so I expect this level to do so as well (see below). Using this pattern we set are looking for a TP of $11,180, with a stop loss at a minimum risk/reward of 1:2. In this instance I am specifically using 1:3 as this gives us a greater return, and the stop-loss is still below the previous level of resistance. Butterfly ratios: B = 0.786 C = 0.382-0.886 D = 1.618-2.24 X to D = 1.272 This move has already begun but should be good to go if price is to re-test the $8200 mark. I'll be updating as I go! Have a good weekend everyone. :)
BITFINEX:BTCUSDLong
by KyleMcQuade
BTCUSD Bullish CypherThis week I am looking at a potential bullish position on Bitcoin, where support has recently been found between 9-10k (a good psychological number). Price has retested the $9100 mark and is beginning to consolidate as it approaches 10k once again, making this a good area for a double-bottom to occur. As always, this pattern comes with a 1:2 risk-reward ratio from the PRZ, but candlesticks will still be heavily monitored before any entry will be taken. Cypher ratios X:B = 0.382-0.618 A:C = 1.272-1.414 X:D = 0.786
BITSTAMP:BTCUSDLong
by KyleMcQuade
2
AUDNZD Bullish BatLooking at the Aussie-Kiwi this week, we can see a bullish bat setup, on the 1 hour timeframe, at a level of daily support (see generic overview below). The PRZ completes at 1.0862, with a preferred stop lost below the wick of previous support on the 4 hour chart. Of course, an entry may be taken at any point between the D and X levels so candlesticks will be closely monitored. NZD CPI will be released tomorrow (24/01/2018) however, this aside, the rest of this week's key economic data is focussing on the EUR, USD, GBP and CAD. As harmonic patterns are naturally occurring cycles, we should see little-to-no interference from outside fundamental factors. Bat Ratios X:B = 0.38-0.5 A:C = 0.382-0.886 B:D = 1.618-2.618 X:D = 88.6%
Long
by KyleMcQuade
Bitcoin - Bullish Deep CrabWhat's up everyone, I'd like to provide some technical thought amongst all of the madness in the crypto world right now. Bitcoin is currently forming a bullish deep crab pattern on the 1h chart, providing a trading opportunity with a 1:2.5 risk to reward. The measurements for a valid deep crab are detailed below. B: 0.886 C: 0.382 - 0.886 D: 2.24 - 3.618 X to D: 1.618 I'll be expecting price to stall out once it reaches the D point, this forms on a key level of support! As you can see from the daily chart below the pattern completes slightly above the daily support trendline. This is sufficient reasoning for a reversal to take place and seems likely considering Bitcoin has already corrected by 50% since the all time high. Keep this setup on your watch list :)
BITSTAMP:BTCUSDLong
by LewisGlasgow
104
CHF/JPY - Bearish 5-0Hello traders, here we have a bearish 5-0 pattern on the 1h timeframe with CHF/JPY. Price formed a valid C point at the minimum 1.618 level and is now heading towards completion at D. 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 expect price to stall in between 50% and 61.8% retracement levels, this is a key area of resistance and most likely where price will reverse. I hope you all have an excellent week and safe trading!
Short
by LewisGlasgow
4
CADCHF Bullish CypherLater this month, the BoC are expected to raise their interest rate from 1% to 1.25%- should this go ahead we should see a rise in demand for the Canadian Dollar. Looking at the chart- price has broke strong weekly resistance, which has now turned to support. The Cypher pattern completes on the support level, where I believe price should rally if it hits this level. As always, I will be looking closely at the candlesticks for a valid entry- and keeping the risk:reward at a minimum 1:2. RSI is also approaching the oversold level. I am still holding my short position on th NZDCAD as i believe the cad will gain further strength. Cypher ratios X:B = 0.382-0.618 A:C = 1.272-1.414 X:D = 0.786
Long
by KyleMcQuade
4
The People vs. The BanksWelcome back traders, I hope you had a wonderful Christmas and New Year! We're now getting back into the charts it's a brand new year, new opportunities and what a start it has been :) cryptocurrencies are through the roof! Today I'm breaking down two assets which are breaking records and funnily enough one of cryptos most well known rivalries, ripple vs. stellar. As you will know by now, both of these cryptocurrencies have been making headlines for the past month, their growth has been tremendous and to those who took my advice at the beginning of 2017 on both of these assets will have a very nice portfolio, I've received many kind messages with people sharing their results and that's what I love most about this business! However, as good as all this sounds it's at times like this when investors are blinded by 10x and 20x returns, and I come along to bring them back to reality, markets move in cycles and I hate to see traders buy a market top or hold through a 95% correction. XRP current price = $3.68 1 month ago = $0.25 STR current price = $0.86 1 month ago = $0.09 Just take a look at those figures for a second, that's in one month alone. Similar to the moves we experienced in April/May 2017. First, let's take a look at Ripple on the left (XRP/BTC) As we can see from the chart the average increase is 1494% including the present price increase but not accounting for the 5412% total increase in 2017 as this was broken up by a 69% correction. Since the beginning of December 2017 price has increased by 1890% as XRP makes headlines all over the world, it is now the second largest cryptocurrency by marketcap. Let's take a look at the downside of these moves. As you can see these impulsive moves are followed by a correction greater than 69% and actually two of them resulting in a 95% decline. The average correction is 86%. Now, picking out a market top is not simple although I have done this in the past. If we experience a correction from the current level you can expect a correction of at least 50% before the move up continues. A lot of individuals claim XRP will hit $10 and for their satisfaction I have included a target level for this (this price level is based on the current BTC price) which is the exact same percentage increase as we seen in 2017... The total move = 5412% from low to high. If we do see price achieve $10 the correction to follow will be of significance, I expect XRP to lose more than 70% of its value at this price level. Now, we have Stellar on the right (STR/BTC) The average price increase is 2487% including the present price increase. Since September 2017 price has increased by 2794% bringing it back into the top 10 on coinmarketcap.com. We can see that both corrections for Stellar resulted in a 96% decline which is extremely similar to XRP. Again, I see a correction of at least 50% for Stellar very shortly. Taking all of this analysis into account, these charts need to be compared to the asset quoted in USD, I will update this post in the future with the comparison. I will also be updating the idea on a shorter timeframe to pinpoint where the correction will occur. Feel free to check out my previous posts on market cycles. Bitcoin: Altcoins: I wish you all the utmost success in 2018.
S
by LewisGlasgow
60
AudJpy Bearish BatThis morning, the AUD trade balance was released below consensus. Expected at a surplus of 550M; however, the release came out at a shortage of -628M. Here we have a bearish bat on the Aussie-Yen. Price is well overbought, so I will be keeping an eye on the 4 hour and daily chart candles for sign of a reversal. Price has broke the weekly trend line completely and began to consolidate- perfect conditions for harmonic patterns. I'm also looking at the NZD-CAD. The AUD-CAD will also be a good pair to analyse for a short position. Bat Ratios X:B = 0.38-0.5 A:C = 0.382-0.886 B:D = 1.618-2.618 X:D = 88.6%
Short
by KyleMcQuade
Bitcoin Outlook 12/28/2017 BTCUSDTIn the connected post, I wrote about how the Fibonacci Retracement Tool could be used to predict Bitcoin's corrections. Thank you again @cdschultheis for pointing this out! In short, here's how to read this chart When Bitcoin grows, it has no future support and resistance, so we're using the Fib tool to draw it Price has a good probability of hitting a line we've drawn and bouncing down If price shoots through the line we've drawn, we ignore it - We're looking for candlestick confirmation Once we have a significant trend, we can redraw the pattern as we did in the post! Note: Always draw on your own chart, and ALWAYS look for candlestick confirmation and that the candlestick CLOSES! You're welcome to repost and share this analysis with credit due! Learn to trade at www.sixfigurecapital.com Click the chart below to watch BTC hit the retracement twice!
Long
by corganmusic
Opportunity to Enter - EURAUD 1D Gartley Short (Cont'd)Today we've got a continuation of the Gartley Pattern I posted previously. It hit, and made an excellent opportunity to short. The AB=CD pattern is nearly perfect! By placing our SL at D point, and our Take Profit at our normal levels, we can get a 2.88 Risk to Reward - Almost 1 to 3! :) SO, if you're looking to enter you haven't missed your chance! You're welcome to repost this, just mention @corganmusic! :) Learn to trade in 14 days: sixfigurecapital.com
Short
by corganmusic
BTCUSDT Cypher Pattern 4h chartI wish I would have posted this yesterday, I didn't think it would end up (nearly) completing :) Regardless of the pattern, BTC is basically giving a 50% off sale during the holidays! Thanks BTC! We're looking at completion of our Cypher pattern at D point, $11,143 A = .382 - .618 B = 1.272 -1.414 X to D = .786 We're looking for price to touch D point, and then reverse. Wait for it to hit D before entering. Risk to reward is nearly 2, 1.82. We strive to have a R/R of 2 with the normal strategy, but i really like the resistance at 8,167, and future growth :) Note: Always draw on your own chart, and ALWAYS look for candlestick confirmation and that the candlestick CLOSES! You're welcome to repost and share this analysis with credit due! Learn to trade at www.sixfigurecapital.com
Long
by corganmusic
NZD/CAD Bearish Butterfly- Daily chartHi guys, here we have a Bearish butterfly pattern formed on the NZD/CAD currency pairs on a daily chart, this is a potential trading opportunity with a risk reward of just over 1:2 The valid measurements for a butterfly confirmation are: A-B: 0.786 A-C: 0.382-0.886 B-D: 1.618-2.24 X-D:1.272 I'm delaying entry on this trade because both ZND and CAD are performing weakly right now, I will wait for the overnight news announcement, test of the resistance and MACD to begin to show a sell off. I hope you's all day a great week again trading folk and good luck. Sorry that the pattern has been slightly obscured by the fibonacci tool If you wish to connect, let a comment below or send me a message
Short
by MichaelCollins18
NZDCAD - Bearish Butterfly. This week I have the Cad on my watchlist. This pair in particular is interesting as we have a 6 month bearish trend that has came to and end and began to consolidate. Within the consolidation we have a bearish Butterfly pattern. Price is overobught and also showing bearish divergence. I am taking a bearish entry as the Daily chart i expect will close with a bearish inverted hanging man- a sign of a bearish reversal. Within the next 24 hours we will have the release of the NZD Trade Balance. It is expected to increase on last month by 321 Million. Should this fall below consensus, we will see a rapid drop. Should the trade balance come out as expected (or higher) I will re-assess the position. See previous Bullish butterfly on this pair as the consolidation began! Butterfly ratios: X:B = 78.6% A:C = 38.2:88.6% B:D = 1.618-2.24% X:D = 127.2%
Short
by KyleMcQuade
2
ETHBTC 3hr BAMM (Bat) and Gartley PatternsWe've got a valid Bat, that could shoot through B point starting the BAMM. (Measurements at bottom). Also a Gartley if it breaks up, and will be looking for reversal at D With these patterns especially the BAMM, it's really important to see it break the point, and close. I had previously posted a BAMM pattern that bounced at B but never broke B point - that's not a trade that I took, make sure it breaks the support or resistance line!! Candlesticks are KEY! They'll tell you if you can take the trade. BAMM is 2.26 R/R ratio Gartley is less with 1.84 R/R Ratio Bat Pattern Measurements A = .382 - .5 B = .382 - .886 C = 1.618 -2.618 X to D = .886 Gartley Pattern Measurements A = .618 B = .386 - .886 C = 1.272 - 1.618 X to D = .786 Note 1: Always draw it on your own chart to get exact measurements! Make sure you have confirmation candlestick patterns CLOSED before entering - it may shoot through the D reversal zone! Note 2: To trade this, you must own Ethereum and sell into Bitcoin You're welcome to repost this, just mention @corganmusic! :) For those looking to learn to trade, message me! Good luck out there! Update idea
Short
by corganmusic
3
Market Comparison - What Will Happen to Altcoins?The question on everyone's mind right is... When will the altcoin market recover? WHAT IS GOING ON? There seems to be a serious misunderstanding on the way markets move, I see a lot of comparisons to the tech bubble, although from a cyclical standpoint the principles are similar, you need to realise that the details will always change. As you can see from my chart I have listed XRP, ETH, LTC and DASH which are all quoted against BTC. Let's take a look at all of these trading pairs individually. 1. XRP/BTC As you can see from 2014 to 2017 price went through a major correction of 95%, imagine you were holding XRP from the top... This is how many of you may be feeling right now. Many of you could still be holding XRP from the previous top. Price has corrected the exact same amount as it did previously, we're currently sitting at a 95% correction for 2017. 2. ETH/BTC Ethereum went through a major correction which lasted over 9 months, this decline was 80%. Now we are experiencing a similar move, the current correction started 6 months ago and we are at a downfall of 83%. As you can see price has kept a stable price structure on the weekly chart, providing a solid support level at the current price. 3. LTC/BTC 86% decline from 2014 to 2015. 90% decline from 2015 to 2017. Where are we now? Currently in a corrective phase at a 76% decline. 4. DASH/BTC 90% decline throughout 2014. 80% decline throughout 2015. Current decline at 73%. I don't want to drag it out too much, you guys get the gist of it. I mentioned in my BTC analysis yesterday... "as a general rule, the greater the amplitude of price during the major phase... The greater the correction will be". Think about this in comparison to the charts shown, you cannot expect an asset to increase 10x or 20x and correct 30% followed by the same move consistently. I recommend to take a step back from the charts every now and then and evaluate what is truly happening, the altcoin market won't disappear overnight. This may be a wake up call for many of you, from this point forward start taking your trading/investing seriously instead of buying into pump and dumps or chasing 1000% returns on sh*tcoins. I want what is best for everyone, don't take that too personally :) Just to add I used a logarithmic scale for all 4 charts. I will be adding more analysis to this idea, there's so much that I could not cover it all in one, I've got a lot more thought behind this. This post is open to discussion, feel free to leave your own analysis below.
by LewisGlasgow
59
GBPNZD Bullish Gartley.This week I am looking at a bullish Gartley on the GBPNZD. Price already reached the D level and has gone slightly past our PRZ- however, the pattern is still valid in my eyes until it reaches the X level. In terms of structure you can see the pattern os solid. The end of the C:D wave has brought some strong bullish divergence on the RSI, and if you look closely there is also a bullish engulfing candle on the 4 hour chart. Price is also respecting the daily trend line. I have already entered this trade after the close of the small 1 hour engulfing candle as price seems to be forming a hammer on the 4 hour chart also. I have illustrated this with my true entry, TP and SL levels. Entry at 1.9182 Throughout the week we have several announcements on the GBP including weekly earnings, retail sales, and a rate announcement on Thursday. Should price remain bullish heading into Thursday morning, I will move my stop loss to my original entry level and wait it out. I thoroughly expect this will happen, otherwise I would not be taking this trade. I do expect price to begin to exhaust and consolidate at the end of the daily trend line- I believe the hartley will be the beginning of the consolidating market. Gartley ratios: B: 0.618 C: 0.382 - 0.886 D: 1.272 - 1.618 X-D: 0.786
Long
by KyleMcQuade
4
GBPAUD huggge Bat 1w, and 3 Drives Pattern! 4hr--------------Bat-------------------------- Starting with the weekly and zooming in, you will see a consistent uptrend that forms a Bat Pattern starting at May 23rd (This is not visible) It has the valid measurements between A = .382 - .5 B = .382 - .886 C = 1.618 -2.618 X to D = .886 --------------3 Drives-------------- The chart illustrates a Bearish 3 Drives pattern (bearish being the final move), with the valid measurements Top Legs - .786 or .618 Bottom Leges - 1.272 or 1.618 and matching harmonic numbers ( meaning .786 matches 1.272 and .618 matches 1.618) This move is DEPENDENT on the reversal candlesticks at what is labeled as "C". This is The BAMM move up as a BUY. Next we look for the candlestick reversal at what is labeled "D". As a SELL Risk Reward is PHAT! at 1 : 4.7 !! These 3 Drives are hard to find, buy totally worth it when they hit! Note: always draw it on your own chart to get exact measurements! Make sure you have confirmation candlestick patterns CLOSED before entering - it may shoot through the D reversal zone! You're welcome to repost this, just mention @corganmusic! :) For those looking to learn to trade, message me! Good luck out there! Learn to trade: sixfigurecapital.com
by corganmusic
EOS - Price StructureTraders, I hope you're all having an excellent weekend. EOS/BTC was requested by one of my followers and I found the price structure extremely interesting, therefore, I'd like to share my thoughts with you all. The chart shown is on the daily timeframe. Considering this asset only has over 5 months worth of price history, it has more to show than the vast majority of cryptocurrencies in the top 50. As soon as EOS became available we experienced an impulsive move over several days, followed by a 96% decline. Once the bottom was found during late October, price climbed over the period of 5 weeks amounting to a 386% increase. We're currently experiencing a correction period which is less than 45% as we speak, I'm expecting price to drop to the support level indicated which would be a 51% correction. This would be a key area to buy EOS in my opinion, at 0.00020000. Feel free to contribute to this analysis, if you have anything to share leave a comment below.
Long
by LewisGlasgow
22
GBPUSD Bat Pattern, Potential BAMM 4h - Harmonic PatternGBPUSD is in a large uptrend since the beginning of 2017, and those are shown by the diagonal Support and Resistance lines in yellow. We also have a S/R around the ~1.309 point (which works great with D Point). As you can see, we just broke out of a cup and handle that created the a valid bat pattern with the measurements A = .382 - .5 B = .382 - .886 C = 1.618 -2.618 X to D = .886 I'm looking to short (BAMM) the pattern from B to D and then BUY the reversal at D point. This is all depending on our candlesticks, and IF it breaks the long Support trend on the bottom. I'm hoping it can go through the Support, but this support has built up all year. Note: always draw it on your own chart to get exact measurements! Make sure you have confirmation candlestick patterns CLOSED before entering - it may shoot through the D reversal zone! You're welcome to repost this, just mention @corganmusic! :) For those looking to learn to trade, message me! Good luck out there!
Short
by corganmusic
1