KyleMcQuade

KyleMcQuade Updated 

That long term down trend on the yen across majors/crosses has broken and price for a while was on the up. We have since saw price enter into a consolidation phase with unconvincing candles on the daily chart. on the 8th of February, price burst with a bullish impulse wave- the following correction waves made a solid and successful Gartley movement (which I...

KyleMcQuade

Price with this pair has began to range- the ideal market for harmonic patterns! Among the chaos, we have a bearish bat formation- expecting price to drop from around 1.12 to 1.06, a potential return of 600 pips! Stop loss just above the high prior to the X point but still keeping the 1:2 risk:reward! Bat ratos AB: 0.382-0.5 BC: 0.382-0.886 CD: 1.618-2.618 XD: 0.886

KyleMcQuade

As price here enters consolidation before breaking either support or trend line, we have a crab formation completing at 138.1 as shown on the chart on the left. The chart on the right shows overall direction and activity surrounding the support area. If price reaches the D point in the middle of said area, we will see a bounce to our TP level at 140.5. Price will...

KyleMcQuade

Seems like it's Bat Week this week! In this episode we have a small bearish number on the dollar-yen. A daily charts shows price has retraced as far back as 38.2% of the boom at the end of 2016 following DT's election triumph! A solid support level, price looks to be entering a possible ranging market, heading into consolidation before the recent retracement...

KyleMcQuade

The daily chart on the cad-frank hasn't trended well in recent times and is currently in a declining channel. Scaling down to the 1 hr chart, price has reached the top of that channel just short of the .886 retracement of the bearish bat. This is the ideal time to get in short with a stop loss just above the X coordinate. As per usual practice, indicators aren't...

KyleMcQuade

This pair is once again testing a level of weekly support in the formation of a bullish bat. The D point is calculated just above this level so it may push past that point to retest the area, however, a considerate stop-loss shout allow for the move to breathe. This movement is coming coherently with a Bullish Gartley on the GBP/USD pair, adding to the solidarity...

KyleMcQuade

Price has recently danced around the 1.241 level and appears to be moving in a Gartley formation. The potential reversal zone is calculated to slightly below this level but this is still indicating that price will bounce when the level is next retested. It may be wise to drop to the 1hr chart to seek a more accurate entry using candlesticks from a lower timeframe....

KyleMcQuade

Since October this pair has entered into an aggressive uptrend! Price is moving in a bat formation, heading towards our PRZ. As per natural behaviour, price may enter slight consolidation at the PRZ before continuing with the original trend; I will be looking for an entry asap once the C-D wave is complete. 1st and 2nd Take Profit levels at 38.2% and 61.8%...

KyleMcQuade

Here we have a Bullish Gartley on the 60 minute chart, it also shows well on the 4 hour chart. The main X and A coordinates are taken from the points at which each respective price was most commonly rejected, as illustrated by the wicks of the candles. Price rejection is then followed at the 61.8% and 88.6% marks respectively, as required for this specific...

KyleMcQuade

Happy tuesday troops. Here we have ANOTHER harmonic on the Aussie-Dollar. This time we're looking at a bearish BUTTERFLY. The D point (PRZ) is in a similar area to the bat that I previously charted. I saw the butterfly whilst publishing the bat and meant to publish them together but time ran away from me! Here we have a bang on B point at a 78.6% retracement and a...

KyleMcQuade Updated 

Here we have a bearish bat on the aussie-dollar. If look at the chart on a larger scale, daily or weekly, you can see that price is in a down trend. Price is currently pivoting along a line of support- this should act as resistance for the retracement. This gives us extra ammo in our reasoning for the short entry. Our first 2 retracements of 50% and 59.7% indeed...

KyleMcQuade

Here we have a Crab pattern meeting resistance on the 4H chart. The top resistance level at 1.29145 is in fact weekly support from when price previously stalled temporarily after brexit. A rebound from this level will see a pullback to previous resistance! The B and C points meet resistance/support at 1.25144 (0.562 retracement of XA) and 1.23598 (0.726...

KyleMcQuade

Nice and simple today, looking at the potential direction of the euro-NZD. I have drawn in the weekly support/resistance with a trend line starting at the past high from around September 2015. Price has been bouncing in slight consolidation since July this year and I am expecting a break VERY soon. We will either see a break of resistance, which could bring us...

KyleMcQuade

Here we have another harmonic pattern completing itself on the USDJPY; this time, the Crab. The last pattern I posted on this pair did not complete, thus a trade was never entered. This pattern is almost complete and an eager beaver might even take an early entry! Price is reaching key resistance at the 112.00 level So a short position will be taken from there-...

KyleMcQuade

Here is some generic price analysis on the Pound/Yen, taking the form of a Bullish 5-O ! As technical traders we use price action as our main (preferably ONLY) indicator. That said, it never hurts to consider the actions from institutions that drive the markets to do what they do! Traders everywhere are acknowledging a weakening Yen, whilst the other 99.9% of the...

KyleMcQuade

Here we have the EURUSD on the weekly timeframe. Looking at the general movement of price before looking for a pattern, there is a temporary ranging market inside a clear sideways channel at a strong point of resistance (1.05). General price movement dictates that the more the price tests support, the stronger the support level. Which leads to a bigger move if...

KyleMcQuade

Hi guys, here we have a bearish butterfly on the NZDUSD! Price looks like it's coming to the end of the 2nd phase of the correction wave (analysis linked below). Looking for the bearish bat to start downwards movement! This pattern was drawn up on the 4H chart, now looking at the 1 hour for entry. I never use indicators for entry points, but every once in a while...

KyleMcQuade

Heres the weekly projection of movement on the NZDUSD: this pair is peeking at 0.73 due to the bullish 2016 coming to an end. Now we have already entered the correction wave of the 5:3 movement, so I am expecting price to drop to the 0.70 area before heading into consolidation at the lower level of support! As a harmonic swing trader, this will provide amble...