KyleMcQuade

KyleMcQuade Updated 

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...

KyleMcQuade Updated 

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...

KyleMcQuade Updated 

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...

KyleMcQuade Updated 

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...

KyleMcQuade Updated 

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...

KyleMcQuade Updated 

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...

KyleMcQuade Updated 

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...

KyleMcQuade Updated 

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...

KyleMcQuade Updated 

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...

KyleMcQuade Updated 

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....

KyleMcQuade

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...

KyleMcQuade Updated 

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...

KyleMcQuade Updated 

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...

KyleMcQuade

Paired with my expectation of a bullish Canadian Dollar this week, I am looking at a bearish cypher on the GBP/CAD. Cypher ratios X:B = 0.382-0.618 A:C = 1.272-1.414 X:D = 0.786

KyleMcQuade Updated 

Later this month, the BoC are expected to raise their interest rate from 1% to 1.25%- should this go ahead we should see a rise in demand for the Canadian Dollar. Looking at the chart- price has broke strong weekly resistance, which has now turned to support. The Cypher pattern completes on the support level, where I believe price should rally if it hits this...

KyleMcQuade Updated 

This morning, the AUD trade balance was released below consensus. Expected at a surplus of 550M; however, the release came out at a shortage of -628M. Here we have a bearish bat on the Aussie-Yen. Price is well overbought, so I will be keeping an eye on the 4 hour and daily chart candles for sign of a reversal. Price has broke the weekly trend line completely...

KyleMcQuade Updated 

This week I have the Cad on my watchlist. This pair in particular is interesting as we have a 6 month bearish trend that has came to and end and began to consolidate. Within the consolidation we have a bearish Butterfly pattern. Price is overobught and also showing bearish divergence. I am taking a bearish entry as the Daily chart i expect will close with a...

KyleMcQuade

This week I am looking at a bullish Gartley on the GBPNZD. Price already reached the D level and has gone slightly past our PRZ- however, the pattern is still valid in my eyes until it reaches the X level. In terms of structure you can see the pattern os solid. The end of the C:D wave has brought some strong bullish divergence on the RSI, and if you look closely...