Looking forward to a new week, I have added the AUD/CAD to my watchlist- keeping my eye on a bullish cypher pattern on the 4 hour chart. If you scroll back on this timeframe you can see our PRZ has landed in an area where there is a history of price consolidating as support or resistance, as well as times where price has quickly reversed. Keeping this in mind, I...
Hi Guys, Here we have the GBPUSD chart on the four hour please see detailed breakdown of the analysis below: Gartley (Blue Pattern): The Gartley completed and price reversed from 'd' point twice. First hitting the 0.23 retracement then 0.50. Price has now dropped straight past the 'd' point and is hovering between x and d of the Gartley. It is yet to reach x...
Hello traders, here we have GBP/NZD on the 1h chart with a valid bullish bat pattern. All-round excellent opportunity with over 1:2 risk to reward. 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 This is one to watch right now, I thought I'd share this before heading off...
It's been a busy week of charting so far, and now I'm looking at a potential bearish cypher on the 1 hour chart. You can see from my analysis of the daily chart below that price has begun to test resistance at the high before the X point- meanwhile price has recently made consistent higher highs and higher lows. However after the recent re-test of the high at our...
I'd like to present a short post covering Ripple in relation to the market-wide correction. As mentioned in my Bitcoin post the magnitude of the correction for most cryptocurrencies has been amplified as the entire market capitalisation dropped from $830 billion to $310 billion, which is over a 50% decline market-wide. As you can see from April/May 2017, price...
I'm back with another 5-0 pattern but this time on the 4h timeframe with XAU/USD. The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 Excellent trading opportunity with over 1:3 risk to reward. The D point seems to be a good area of support to go long as shown below. Wait until price reaches $1300 before...
Hey guys, Today I am looking at Silver, with a bullish shark formation on the 4 hour time frame. Normally for this pattern I would feel more comfortable if the B point was at least 0.382, but the level of support at the PRZ is very strong. The support is holding as high as the weekly timeframe, which is why I am feeling drawn to this trade. Shark Ratios are as...
Hi guys, Here I'm on the 4 hour chart, looking a potential type-ii entry on a bullish 5-0. The pattern has already made an absolutely PERFECT 5-0 formation; all key reversal areas are bang on our key retracement/extension levels. Price has already touched the 50% retracement for the D point, however if price returns to re-test this level we should be looking for...
Hi guys, I have entered this bearish bamm formation on the GBPNZD. The Bat Action Magnet Method (BAMM) is triggered when the C-D wave of a potential bat pattern has broken the support/resistance of the B point. Price has broken the support at the B point and since re-tested this area as resistance. As most traders will know, support and resistance acts as a...
Another possible position for the position traders out there on the daily chart of the EUR/JPY. Before the X point, price became slightly volatile- rapidly rising and falling- before resuming it's natural wave south. Using the X from the high following the retracement we find a bearish bat formation. Bat Ratios B = 0.382-0.5 C = 0.382-0.886 D = 1.618-2.618...
I 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...
Good 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...
Throughout 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....
Hi 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...
Here we have a potential Bullish Shark pattern on the hour graph. The prince seems to have already touched the PRZ but we may see a retest and then for it to move upwards. Will keep updated as i see fit.
This 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...
Looking 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...
What'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...