Harmonic Trading by Lewis Glasgow

[Lewis Glasgow]

Welcome traders!

Here you will find detailed analysis across various financial markets such as currencies, commodities and cryptocurrencies.

My approach to the market is primarily based on technical analysis, using harmonic price patterns with a main focus on market confluence to depict my next move.

I regularly contribute free market analysis for various leading investing websites and from now on I'll be doing the same here for everyone at Forex Peace Army inside this thread.

If you have any questions about the analysis I provide feel free to leave a comment or contact me personally, I'll be happy to help.

Here's to your success.

 

[Lewis Glasgow]

Harmonic Trading (4 April 2017)

USOIL: Bearish 5-0

Crude Oil has now formed a valid bearish 5-0 pattern which completes at 51.00, I'm expecting an aggressive reversal at this level.

The C point came in at the minimum 1.618 followed by

Pay close attention to the candlestick formations in the potential reversal zone, any signs of indecision will help to signal your entry.

The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50

This is an excellent shorting opportunity with almost 1:4 risk to reward.

Entry: 51.00

SL: 52.00

TP: 47.00

Click here to view my original analysis on TradingView.

 

[Lewis Glasgow]

Harmonic Trading (4 April 2017)

NZD/USD: Bullish Bat

Price has formed a valid bullish bat pattern on the 1h timeframe which offers a solid risk to reward of 1:2.

We are currently 60 pips off the potential reversal zone.

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

As mentioned on the chart I'm currently holding a short position from the C point at 0.70600, my reason for entering at this level is explained here.

This is a short-term trading opportunity, I'm expecting price to complete the full extent of this move before continuing the bigger picture.

Entry: 0.69120

SL: 0.68600

TP: 0.70200

Click here to view my original analysis on TradingView.

 

[Lewis Glasgow]

Harmonic Trading (5 April 2017)

AUD/JPY: Bearish 5-0

I'm back with another bearish 5-0 pattern but this time on the 4h timeframe with AUD/JPY.

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 is currently completing the C point at the minimum 1.618 but it could drop further to 2.24 before making a move towards the potential reversal zone.

The C point will more than likely form on the 1.618 as this a strong level of support.

The 5-0 structure has a perfect reciprocal AB=CD pattern within it, which completes at the 50% retracement level at D.

Entry: 84.570

SL: 86.000

TP: 80.900

Click here to view my original analysis on TradingView.

 

[Lewis Glasgow]

Harmonic Trading (5 April 2017)

EUR/GBP: Bullish Bat

We are now forming a valid bullish bat pattern on the 4h chart which has opened up a trading opportunity with almost 1:3 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

Price is currently trading within a horizontal channel, I'm expecting a reversal just above the main support level.

Entry: 0.84450

SL: 0.83700

TP: 0.86560

Click here to view my original analysis on TradingView.

 

[Lewis Glasgow]

Harmonic Trading (6 April 2017)

CHF/JPY: Three Drives

This is an early prediction for CHF/JPY with a potential bullish three drives pattern on the 4h chart featuring several trading opportunities, long and short!

Price has now completed the 2nd price drive at 1.44, but it could drop to a maximum of 1.618 therefor altering the entire pattern.

I'm going to trade this differently, rather than waiting for the entire pattern to complete I will be going short from the 0.618 or 0.786 retracement level.

To back up the price move we have a valid AB=CD within the three drives structure, with a similar amount of price bars although the time completion is slightly off for the C to D leg.

Click here to view my original analysis on TradingView.

 

[Lewis Glasgow]

Harmonic Trading (10 April 2017)

EUR/USD: Three Drives

I'm back with another three drives pattern but this time on the 4h timeframe with EUR/USD.

Price completed the 2nd price drive at 1.23 and we're now beginning the 3rd price drive which I plan to capitalise on.

You will need to pay close attention to price action and candlestick formations in the current area for the perfect entry point.

A clear break and close below the trendline would indicate a move lower, therefore invalidating the pattern.

This is a great trading opportunity with almost 1:4 risk to reward.

Click here to view my original analysis on TradingView.

 

[Lewis Glasgow]

Harmonic Trading (11 April 2017)

USD/CHF: Bearish 5-0

We have now formed a perfect bearish 5-0 pattern on the 4h chart which is ready to short.

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 consider this pattern to be perfect as both B and C points come in a 1.618.

This is an excellent trading opportunity with almost 1:3 risk to reward.

Entry: 1.00800

SL: 1.01800

TP: 0.98200

Click here to view my original analysis on TradingView.

 

[Lewis Glasgow]

Harmonic Trading (13 April 2017)

GBP/CHF: Bearish Bat

Price has formed a valid bearish bat pattern on the 4h timeframe which offers a solid risk to reward of 1:4.

We are currently stalling in the potential reversal zone.

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 D point formed on a major level of resistance, I'm expecting price to sell-off very shortly.

Taking a look at the bigger picture (chart is shown below) this trade is a no-brainer for me.

Entry: 1.26100

SL: 1.26880

TP: 1.22770

Click here to view my original analysis on TradingView.

 

[Lewis Glasgow]

Harmonic Trading (13 April 2017)

EUR/USD: Double Trading Opportunity

This has been an excellent pair to trade lately and it just keeps getting better, I'm currently monitoring a double trading opportunity with a long position running at the moment.

Here we have a bearish three drives pattern on the 4h timeframe which is just beginning the 3rd price drive.

Looking at the bigger picture there is an ascending triangle which is holding extremely well, instead of waiting for the full three drives pattern to complete I went long from the beginning of the 3rd price drive as shown.

To further validate this 400 pip move, price has now formed a valid bearish 5-0 pattern on the daily chart and the D point aligns with the completion of the three drives pattern and my take profit level.

The measurements for a valid 5-0 pattern are detailed below.
B: 1.13 - 1.618
C: 1.618 - 2.24
D: 0.50

Upon reaching my take profit level, I'll be looking to short from 1.09750.

I'm absolutely loving the look of this setup! It's full of confluence, multiple harmonic patterns complete in the same price zone, providing additional confirmation to take the trade.

Click here to view my original analysis on TradingView.