LewisGlasgow

LewisGlasgow

Here we have AUD/NZD on a Weekly chart with a potential reversal in trend. Every indicator we need to predict a reversal setup is confluent on this chart as you can see above! Price needs to breakout from the crucial 1.14200 resistance to confirm the change in market sentiment. This will correlate with everything detailed below: The weekly bearish trendline. ...

LewisGlasgow

Today we are looking at CAD/JPY on a Daily chart with a potential bearish crab, I'm loving the look of this setup already. The measurements for a valid crab pattern are detailed below. B: 0.382 - 0.618 C: 0.382 - 0.886 D: 2.618 - 3.618 Final X to D: 1.618 As you can see from previous price movement our pair has been pushing lower since July 2015 creating a...

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I'm loving all of the Japanese Yen pairs at the moment, here we have AUD/JPY on a 4h chart forming a potential bearish bat pattern. The same pattern has also taken shape on the Daily chart. 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 PRZ: Once completing the D leg at 85.200 I...

LewisGlasgow

Quick market analysis for GBP/JPY on a 4h chart as always, we have a potential bearish alt bat. As we all know this pair moves fast, at times 100+ pips per hour and this is one of the many reasons why it is my favourite pair to trade! We have an overextended D point at 166.000 for one simple reason, the pair has been trending within a channel. I'm expecting price...

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Here we have USOIL on a 4h chart which has taken the shape of an ascending triangle. Let's take a look at the Daily chart below which has the same structure, this provides a larger outlook on previous price movement. As you can see we are making another bullish move for our key resistance level, breaking this would potentially drive the price higher. If we fail...

LewisGlasgow

It's a Sunday night, we have an amazing week ahead of us let's start off with AUD/CHF on the 4h chart which is forming a bearish butterfly. As you can see from previous price movement our pair is creating a channel, I would like to see price spike up to hit our D point completing the bearish bat pattern at 0.74700 then just drop straight back down. If the pair is...

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We are on the Daily chart for NZD/JPY and I'm loving what I see going on, we have a very nice 'W' shaping up which is most likely going to be a bearish gartley formation. Measurements: I have removed the Fibonacci Retracement to keep the chart clean and simple. First off measuring from X to A this has given me my B point at 0.618. To get our C point I have gone...

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We are approaching a key level of support on the 4h chart for EUR/JPY. The question is whether the bears will keep pushing the price lower or will we see a bounce off our support? Please feel free to leave your opinion below.

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Here we have a nice head and shoulders setup on the 1h chart for USD/JPY. This is a very simple selling opportunity, we would be looking for an entry below the neckline but I would wait for the close of the candle before getting in! I will be looking to close out this trade in profit between 111.700 and 111.500, always remember to keep risk low and never get greedy!

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The GBP/USD monthly chart, clearly illustrates that price has been stuck in consolidation from the year 2009. Recently price has been falling sharply, heading towards the 2009 lows of 1.35000 to test it. If we break this crucial level of support it means price is finally out of this range, bulls are out and the bears are in ready to drive the price lower between...

LewisGlasgow

There are some amazing setups forming on the charts, here we have an AB=CD pattern on a Daily chart for GBP/USD. This post will tie in nicely with my long term prediction on the currency pair! Straight away this would be an excellent long position in the near future, the C point came into the 0.5 Fibonacci Retracement (feel free to draw in the retracement levels)...