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CHF/JPY - Bullish CypherHello traders, it appears CHF/JPY has formed a bullish cypher pattern on the 15m chart. This is an excellent long opportunity with a potential 1:2 risk to 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 always keep your risk in check and apply sound trading knowledge to come to trading decisions. I have not yet executed this position, I will be monitoring today and analysing the minor/major timeframes. The same pattern can be found on NZD/JPY 15m chart as well. Feel free to connect with me below :)
Long
by LewisGlasgow
1
XAU/USD - Bullish ButterflyHello traders, it appears XAU/USD is now forming a bullish butterfly pattern on the 1h chart in addition to a bullish 5-0 which I posted on here at the beginning of February. You can see more on this analysis below. Two valid harmonic setups are forming in the same area, the bullish 5-0 at $1,300 and the bullish butterfly at $1,295. The measurements for a valid butterfly pattern are detailed below. B: 0.786 C: 0.382 - 0.886 D: 1.618 - 2.24 X to D: 1.272 The daily chart provides several indications going forward, price is quickly approaching the support zone where both of our harmonic setups complete, at the bottom of the zone price will meet the 200 EMA which is an additional dynamic support. The next support to follow this is most likely the lower support trendline near $1,250. I will most definitely be waiting for the next daily close before executing, the decline is extremely aggressive so wait on confirmation of a reversal. In addition to the analysis provided above, price forms a valid AB=CD formation at $1,300 with the reciprocal ratio of 0.5 which is 2.0. Stay safe, stay harmonic! Have an excellent weekend when it comes.
OANDA:XAUUSDLong
by LewisGlasgow
22
Bitcoin - Market CorrectionI feel there is a need for another insightful post in regards to BTC/USD, today's analysis is on the 4h timeframe. This is following up from my post 2 months ago where I predicted the next corrective phase to begin at $20,000, from here we experienced a market decline of 50% before price settled. The magnitude of the correction was amplified as the entire market capitalisation dropped from $830 billion to $350 billion, which is over a 50% decline market-wide. We've been looking for low levels to buy bitcoin throughout January, although having two successful long positions this month price is yet to find the bottom. The current bullish bat formation looks excellent, the D point holds price at a 64% correction, which is substantial given this happened within a 6 week period. 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 The ratio alignment for this setup is excellent, the D point also aligns with a trend based fib-extension from A, B, C at 1.414, this is not shown on the chart. Below is a simple overview on the daily chart. We're still in a good area of support which of course aligns with the bullish bat, to me this is a reversal zone worth watching. To add, I'm using a logarithmic scale instead of the standard linear scale. Keep this setup on your watch list :)
BITSTAMP:BTCUSDLong
by LewisGlasgow
60
USOIL - Bearish BAMM, Bullish Bat and Market StructureToday I've brining you all an in-depth view on USOIL, firstly I'll break down the base of my analysis on the 1h chart which shows two setups, bearish bamm and bullish bat. 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 understand the BAMM theory will be relatively new to most traders, this style of trading simply focuses on a breakout of the B point. Upon a break and close below/above B, in this situation below, I look to capitalise on the move towards D which confirms the potential reversal zone of the bullish bat pattern. We can see there has been various tests of this level. Taking a look at the daily chart below we can see a clear demand zone between roughly $55 and $54 which aligns with the support trendline. I'll be looking for a sell off to drive prices towards this area, from there I can further analyse the bullish bat for a long opportunity if this level of support holds. Although, I do expect price to drop lower than D to the demand zone at X. If you have any analysis to contribute feel free to leave it below :)
TVC:USOIL
by LewisGlasgow
7
FCT/BTC - Bullish GartleyWe're now heading into a new week, I'm putting out as many potential opportunities as possible for you guys to analyse over the next few days. Right now I'm looking at FCT/BTC on the 1h chart with a bullish gartley pattern. The measurements for a valid gartley pattern are detailed below. B: 0.618 C: 0.382 - 0.886 D: 1.272 - 1.618 Final X to D: 0.786 This has formed in a key demand zone. I'll be updating all of my positions as they progress :)
FLong
by LewisGlasgow
3