LewisGlasgow

LewisGlasgow

The Three A's It is a known statistic that over 90% of traders fail and I covered the three main reasons why in my previous educational post (shown below). Now that you know the main reasons why traders fail, it's time to lay the foundation for successful trading. This can be structured and defined by something I call the three A's. #1: Approach...

LewisGlasgow

Hello traders, here we have another 5-0 pattern but this time on the 4h timeframe with XAG/USD. Price is currently completing the C point at the minimum 1.618 extension but it could push up further before making a move towards the PRZ. 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 hope you all have...

LewisGlasgow

Hello traders, it appears EUR/CAD has formed a triple bottom on the 4h chart. This is an excellent opportunity with a potential 400+ pip return! You can buy from the current position or wait for a close above the neckline around 1.42300. I hope you all have a great weekend :)

LewisGlasgow

Three Reasons Why Most Traders Fail Hello traders, I'm back with another educational post after receiving a lot of positive feedback. Today I'm going to break down three reasons why most traders fail! Traders Fail?! Yes most do, it is believed over 90% of new traders fail (this is an ongoing debate) but why is that? I personally believe it comes down to...

LewisGlasgow

Interesting setup on the daily chart for AUD/CHF with a potential breakout, price has been trading within this area since early 2015. We have just broken out of a rising wedge to the upside (as apposed to the downside) and we're now approaching a major level of resistance, the question is will we see a bounce or break? I'll be looking for additional analysis to...

LewisGlasgow

Hello traders, following up from my previous post on NZD/USD with a three drives pattern (shown below). I have now spotted a bullish shark and bearish 5-0 pattern on the 1h chart, this is an excellent opportunity to jump on this long term move! I'm still holding my position from last week with my stop loss in profit, I plan to continue holding it until we...

LewisGlasgow

During November 2016 the U.S Dollar broke out and closed above an extremely important resistance level and since then price has returned to that exact level, raising a lot of questions in terms of analysis going forward. Straight away you can see price was been stuck in consolidation since the beginning of 2015. Testing support and resistance multiple times...

LewisGlasgow

Here we have GBP/CHF on the 4h chart with a potential buying opportunity, as you can see price has formed a valid inverted head and shoulders pattern and a potential reciprocal AB=CD pattern. If you check the daily timeframe price has also formed a larger inverted head and shoulders pattern which further validates the move up. I hope you all have a great week :)

LewisGlasgow Updated 

Interesting setup on the 4h chart for USOIL with a potential breakout, price has been trading within this area since early December 2016. Keep an eye on this price structure over the next month! I'll be looking for additional analysis to capitalise on the breakout :)

LewisGlasgow Updated 

During last weeks YouTube video I called out my three biggest opportunities to kick start 2017, XAU/USD was on the list and it is carrying huge potential. Once price completes the bearish 5-0 pattern at the D point around $1248 I'll be selling. Stop loss: $1281 Take profit: $1121 HUGE opportunity with an amazing risk to reward of 1:4!

LewisGlasgow

Utilising a Risk to Reward Ratio How many of you obsess over an 80% profitability rate? You may feel the need to be right all the time and cannot accept a large amount of losing trades. OR You may think in order to become a profitable trader you need to win more than you lose. Well it's time to put that aside. You do not need to have a high profit/loss...

LewisGlasgow

There are some amazing setups forming on the charts, here we have GBP/USD on the 1h chart with a potential bullish shark pattern. Excellent opportunity with over 1:2 risk to reward! The measurements for a valid shark are detailed below. C: 1.13 - 1.618 D: 1.618 - 2.24 Final X to D: 0.886 - 1.13 I'll be looking for extra confirmation once we approach the D point.

LewisGlasgow

Hello traders, here we have another 5-0 pattern but this time on the 1h timeframe with EUR/GBP. Price has formed a valid head and shoulders pattern within the 5-0, I'm expecting price to complete the right shoulder at the D point followed by a sell-off to 0.83300. This is an excellent shorting opportunity with over a 1:3 risk to reward. The measurements for a...

LewisGlasgow

Hello traders, it appears GBP/JPY is now forming a bullish bat pattern on the 1h chart. This is an excellent opportunity with a potential 400+ pip return! 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 hope you all have a great week :)

LewisGlasgow

We're looking at NZD/JPY on the daily chart with a potential bullish 5-0 pattern, this is an excellent buying opportunity with over 1:3 risk to reward... Keep an eye on this setup completing! The measurements for a valid 5-0 pattern are detailed below. B: 1.13 - 1.618 C: 1.618 - 2.24 D: 0.50 Price has formed a cup and handle pattern which indicates a move...

LewisGlasgow Updated 

Hello traders, following up from my previous post on NZD/USD with a bearish cypher pattern (shown below). I have now spotted a bullish three drives pattern that aligns with the D point of the cypher and it looks insane! This has opened up an opportunity to trade with over 1:4 risk to reward, I'll be selling upon the breakout of the trendline. Do not forget we...

LewisGlasgow

How to Trade the AB=CD Pattern Hello traders, following up from my previous educational post I received several requests via private message for my take on the AB=CD pattern. This structure represents the basic foundation for all harmonic patterns, it is one of the classic chart patterns which is repeated over and over again. It was developed by Scott M....

LewisGlasgow

Today we're taking a look at the future market direction of USD/SEK on the daily chart. You can clearly see price was trading within a horizontal channel since the beginning of 2015 and broke out during October 2016, driving price right up to 9.44500. Price has now reached this crucial pivot point in the market, providing an excellent opportunity to go long...