glennmercer
Long

EURO: Combining EW With Harmonics - Triangle Breakout

FX:EURUSD   Euro Fx/U.S. Dollar
2 months ago
Hey traders! Looks as though the complex correction is complete for this pair. We have a bullish impulse that followed which points to wave count confirmation, but not until the fifth wave completes. I want to trade this fifth wave after the triangle completes. At the schedule completion of the triangle, a potential bullish Gartley has formed a potential reversal zone. In addition to a high probability breakout, we also get a nice risk to reward ratio out of it. It is smart to wait for bullish confirmation and pullback.

PS: Video support for analysis coming soon! This complex correction is a good candidate for explanation.

Cheers!
2 months ago
Trade active: This one is CAUTIOUSLY active. The triangle is not ideal but I don't see any reason not to trade it with the bat pattern. If I see any signs of corrective structure, even in a rally, I will close manually. If we see a bullish impulse I'm in until target.
snapshot
2 months ago
Trade closed: stop reached: Entered SHORT on the USD via USDCAD after this one. We're already set to B/E on that trade. Check it out below:
2 months ago
Comment:
USDCAD Triangle Complete: Selling off WAVE-E
Follow me on twitter: @gmercerfx
Shoot me an email: gmercerfx@gmail.com
Hanu727
2 months ago
Hi Glen, is this trade already active?
Reply
glennmercer PRO Hanu727
2 months ago
hi Hanu, yes it is active
Reply
dawid2830
2 months ago
we can have a rally to the top after, the publication of data, 2:30 pm
+1 Reply
glennmercer PRO dawid2830
2 months ago
Thanks David. Yes. And if the wave count is in agreement I'll hold this one through the pre-NFP news.
Reply
Hanu727
2 months ago
Hey bud, I just got in at 1.1195.

Stop is same as yours at 1.1187

Good luck friend.

I'm emailing you next week after Hurricane Matthew passes me. LOL
Reply
glennmercer PRO Hanu727
2 months ago
Sounds great Hanu, trying to avoid that one myself! Have some serious tailgating to do this weekend and I'm hoping it misses us on the east coast!
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insane844
2 months ago
sl hit?
Reply
glennmercer PRO insane844
2 months ago
Yes, SL hit on this one. New wave count pending. I like a short on USDCAD much better though at the moment. Cheers!
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