Hey guys, here we have another bearish shark on our hands. Similarly to the GBP/USD trade, the daily chart has found resistance and is re-testing in the form of a double top. Within the re-test we can find a bearish shark formation. Price has already hit our D point but I am now monitoring the 4 hour and 1 hour charts for an entry. I'm currently simultaneously...
In addition to the bearish GBP/USD trade, I am also looking at a potential long position on the GBP/CAD. Again this trade may be heavily influenced by the announcement of next week's British CPI release- also by the BoC interest rate decision on 18/04,followed by the Canadian CPI release the following day. Price has recently broken weekly resistance. The bullish...
Good day traders! This week I'm looking at a potential bearish shark formation on the GBP/USD. This trade will be heavily influenced by next week's British CPI release on 18/04. No general consensus for this announcement has been settled upon yet, but I believe this consensus will make or break the pattern. This will definitely be one to watch in the coming week!...
Over the next few days I'll be keeping an eye on this bearish setup on the Pound-Franc. Looking at the structure of the daily chart you can see were consecutive higher highs and higher lows have previously been made. We were now at a stage where price has ultimately ran out of steam and made a lower low (see below). Following the lower low we are witnessing the...
What's up traders, hope everyone had a good week! Following my last set up on this pair (see below) I am now looking at a potential short position using the bat formation, using the resistance from the failed high of the previous shark pattern. It is not often that we take a contradicting position after a successful trade, but in this instance the structure of...
Hello 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...
What's up everyone, today we have a shorting opportunity on NZD/USD with a bearish bat pattern on the 1h chart. 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 The ratio alignment for this setup is spot on, almost...
A bearish bat pattern has formed and has already been completed at the D point. Looking for a retest of the area around D to go short.
The million dollar question, does the cyptocurrency market solely depend on the success of bitcoin? To some extent, yes. It has the potential to cause altcoins to advance, decline or become stagnant for sustained periods of time. I believe this is down to three simple factors. 1. The overall flow of money (entering and exiting the market). The overall flow of...
Hi guys! Looking at the week ahead there are several potential setups on my watchlist. One of which is this bullish position on the EUR/AUD. Using the shark formation, price has already entered our PRZ whilst testing a strong level of daily support! Since this level has been tested previously we have every reason to believe history will repeat itself (see below...
Everyone seems to be in a state of panic following the recent correction for bitcoin as I receive 99750798 messages (possibly exaggerating) asking for my opinion on the situation, which I don't mind as I love helping out other traders where possible. This recent move really doesn't concern me as all of the technicals on the higher timeframes still indicate the...
Bullish butterfly H1 chart. Looking to go long if price reaches the D-point. PRZ (potential reversal zone) around 1.36830. Higher time frame context (daily) shows an established uptrend.
Hello 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...
What's up traders, today I'm looking at MAID/BTC on the 4h chart with a bullish bat pattern, this pattern completes near the all time low for MaidSafe and it's exactly why it caught my attention. 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 Credit to www.tradingview.com for...
Hey guys, tonight I'm looking a 5-0 position on silver! I previously had my eye on a bullish shark, which has turned into a bearish 5-0 (see below). Price has already touched the 50% retracement and is beginning to show signs of reversal after the bearish engulfing candle! Price is also about to make a double top on the 1 hour chart. Taking this into...
Of course I'm betting that price will follow one of the yellow lines, but let's talk about why... Drawing the with the Fibonacci Tool with the correct ratios has a profound effect - you can start to see where the market will reverse with surprising accuracy, even when the market is creating new highs. To set our Fib tool we use these ratios: 0 - Trend...
Following up from my previous successful bullish gartley for EUR/USD, we've now got another bullish gartley but this time on the 30m chart. 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 As you can see the PRZ forms on a critical level of support, this is an ideal area for a...
Traders, I believe you will like the facts put forward in today's analysis. I've previously spoke about the direction of BTC on the 15m, 1h and 4h charts but I feel a reflective post on the weekly chart is well overdue. Since my post on the cyclical measurements of bitcoin in December, price has created a new low at $5,900, it is now time to start analysing the...