We've got another bat formation on the daily chart, this time we're looking at USD/CAD. Price is 300 pips away from the PRZ so this is one to keep on the watch list... It has a lot of potential. 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 We're looking at a 1.618...
Traders I hope you're having a good week so far, today I'm bringing you a trading opportunity on the daily timeframe for NZD/USD. We're looking at a bullish bat type-II retest as the initial reversal in the PRZ was short lived. I believe once we can confirm this reversal it'll go the full way. The measurements for a valid bat pattern are detailed below. B:...
As we anticipate the bull market returning, we are quickly put back in our place by the bears. Further declines are more daunting than ever at this stage, there is a lot of uncertainty in cryptocurrency right now. I'd like to present a simplistic piece of analysis on bitcoin, I'm sure the novice technical analyst will be able to benefit from this post. Today I'm...
Hi guys, here's another one to add to the watch list! This time I'm eyeing ups potential bullish bat on the Aussie-Yen. The Yen has managed to gain some strength across the board already today, but with this pair in particular price has recently formed into a ranging environment on the 4 hour chart. With this in mind, I will be keeping an eye on the 4 hour chart...
What's up traders. Looking at another bearish position today, this time we have a butterfly formation on silver against the dollar. The price of silver has been moving sidewards for over a year now and we are starting to see price become very compressed. The daily chart is sowing price being squeezed into a triangle formation (the high of which is set around the...
Hey guys, back on the charts this week! Today I am looking at a bearish Gartley position on the cad-yen. Oil has been rallying since June last year and is currently at a point of making a higher low. Should this turn out to be a level of resistance rather than just a higher low then we may see further decline for the value of the Canadian Dollar. Furthermore we...
GBP/NZD is currently forming a bullish deep crab pattern on the 4h chart, providing a trading opportunity with a 1:2.8 risk to reward. The measurements for a valid deep crab are detailed below. B: 0.886 C: 0.382 - 0.886 D: 2.0 - 3.618 X to D: 1.618 This is another setup to keep on the watch list! We are close to confirming the PRZ, once we do we can...
Traders I hope you are all well, today I'm presenting the basic price structure of bitcoin and what I see happening in the near future. Dropping down to the 30m chart we can see price formed a symmetrical triangle at the market low, followed by an unexpected impulse on the 12th of April 2018. This was followed a brief period of advancement and now a break to the...
Happy Monday traders, the market is open! This week I am looking at a potential AB=CD pattern on the GBP/AUD. With this pattern our retracement falls between 0.5 and 0.618- specifically 0.567. Technically this is slightly closer to the latter, which would give us an ideal extension of 0.618. A 0.5 retracement would give us a preferred extension of 0.2, so I...
Hey guys! Looking on the 4 hour chart (borderline daily), we can clearly see a potential bullish Gartley formation. Our pattern is forming at a level where price is testing daily support, resistance which has recently been broken. Price is also just approaching a trend line which has already been tested twice on its current bull run. (see below) Looking...
What's up traders!? Following my previous idea, here is another position which favours a bullish Japanese Yen. The Japanese adjusted trade balance is expecting this evening at 00:50 GMT+1, with a positive consensus of 610 Billion higher than the previous release of 1.03 Trillion. My decision to take the trade will depend on the release later this evening, but...
Hey guys, today I'm looking at a couple of position on the JPY. The Japanese adjusted trade balance is expecting this evening at 00:50 GMT+1, with a positive consensus of 610 Billion higher than the previous release of 1.03 Trillion. With this in mind I have decided that it wouldn't be a bad idea to look at the potential entries in advance. The Cypher pattern...
What's up guys, here's a setup I've been looking at for a while. I'm not a position trader- I don't like to hold trades for any longer than a couple of weeks max. That aside, I have saw this pattern coming for almost 2 months since the B level was broken (one could have BAMM'd it!) Here we have a bullish bat formation on platinum. The support level where the...
Happy Sunday guys! Here I'm looking at a bearish cypher on the aussie/kiwi. The AUD has their rate statement on Tuesday, whilst we wait for the NZD rate comes next week. This pair will definitely be one to watch over the next 9 days or so! Cypher ratios B = 0.382-0.618 C = 1.272-1.414 X to D = 0.786
Hey guys, hereI'm looking at a potential bearish position on EUR/AUD. Price has entered into a zone of monthly support/resistance. Price may become volatile as we look towards the ECB and RBA both releasing their interest rates within the next 2 weeks. The Euro and Aud will both be currencies to watch- it'll be good to see how these to battle it out! I'll be...
Continuing with the majors before moving onto the crosses, I am monitoring a bearish 5-0 on the USD/CAD. Even without the harmonic ratios, price has made a clear head and shoulders, broken the neckline and is now re-testing the neckline as resistance. As per usual with a bearish 5-0 pattern, I will be on the looking for any reversal candles (hanging men/bearish...
Hey traders, looks like there is potentially ample trading opportunities heading into this week. Here's the first of my charting from over the weekend. First I'm looking at a bullish shark formation of the AUD/USD. Price has been charted on the 1 hour for greater detail of movement, but I will be looking for a sign of reversal from the current price level on the...
Happy Friday everyone, Just before the market closes for the weekend I am eyeing up this potential short. Heading into next week I will be monitoring this pair on the 4 hour chart to look for an ideal reversal candle (hanging man, shooting star or bearish engulfing). This pair may become volatile on Tuesday 26/04 as a result of the European Central Bank's...