glennmercer

glennmercer glennmercer PRO EURAUD, 240, Long , 3 days ago
EURAUD: EURAUD Elliott Wave Count:  Falling Wedge on 4H = Buying Opp.
252 1 17
EURAUD, 240 Long
EURAUD Elliott Wave Count: Falling Wedge on 4H = Buying Opp.

This pair has completed a potential falling wedge. Until the first bullish is confirmed with a subsequent more powerful bullish impulse, however, it will be considered an aggressive long. I like a small aggressive position near the completion of an A=C zig-zag and a larger position at the conservative confirmation level. Keep in mind, though, that a drop below ...

glennmercer glennmercer PRO EURAUD, 240, Long , 2 days ago
EURAUD: EURAUD LONG ENTRY:  Bearish Bat Complete + Double Zig-Zag
149 0 9
EURAUD, 240 Long
EURAUD LONG ENTRY: Bearish Bat Complete + Double Zig-Zag

Hey traders, earlier I posted this idea: https://www.tradingview.com/chart/EURAUD/IBqp9PP8-EURAUD-Elliott-Wave-Count-Falling-Wedge-on-4H-Buying-Opp/ This one is entering the PRZ for aggressive entry. If this is indeed the reversal point, we may see a huge risk to reward in our favor toward the follow-through on falling wedge completion. Trade is active with a ...

glennmercer glennmercer PRO EURCAD, D, Long , 3 days ago
EURCAD: EURCAD Elliott Wave + Harmonics:  Adding Structure to the Chop
111 0 11
EURCAD, D Long
EURCAD Elliott Wave + Harmonics: Adding Structure to the Chop

This pair has been choppy with short term rallies and drops that have been powerful but indecisive. As we pull out to the daily chart, we can see some structure coming together for this pair. We have both a Cypher and a Gartley nearing completion as we complete Wave-C-of-(B). I'm expecting a big bullish move out of this zone, preferably out of the tighter ...

glennmercer glennmercer PRO CHFJPY, 60, Short , 3 days ago
CHFJPY: CHFJPY Elliott Wave Count:  Breakout May Start Double Zig-Zag
49 0 14
CHFJPY, 60 Short
CHFJPY Elliott Wave Count: Breakout May Start Double Zig-Zag

This pair, like other JPY pairs, is in the midst of a short rally while we wait for volatility to return to the market. When it does I'll be looking or opportunities to buy the yen. I will only be pulling the trigger on this on a confirmed breakout. If and when wave-(A) completes, our best move will be to sell the (C) wave toward further dropoff. The next ...

glennmercer glennmercer PRO CADJPY, 240, 4 days ago
CADJPY: CADJPY Elliott Wave Count:  Symmetrical Triangle on 4H
108 0 14
CADJPY, 240
CADJPY Elliott Wave Count: Symmetrical Triangle on 4H

After a powerful bullish impulse ending in late 2016, we've seen the pair basing sideways in a series of corrective waves. This month (February) has shown a symmetrical triangle forming on the 4H which could signify the end of the correction if the pair breaks out from wave-(E). Outlined on the chart is a potential move. I would like to see the pair rally so ...

glennmercer glennmercer PRO AUDJPY, 60, Short , 4 days ago
AUDJPY: AUDJPY Elliott Wave Count:  Short through Wave-((C))
183 0 14
AUDJPY, 60 Short
AUDJPY Elliott Wave Count: Short through Wave-((C))

AUDJPY is basing on the hourly chart after a strong bearish impulse last week. Based on the recent completion of wave-((B)), I have strong reason to believe that this drop will continue through next week. I will be waiting for a breakout in order to ride it downward. Updates to come...

glennmercer glennmercer PRO NZDUSD, 60, Long , a month ago
NZDUSD: NZDUSD Long:  Weak US GDP Data + Channel
329 4 13
NZDUSD, 60 Long
NZDUSD Long: Weak US GDP Data + Channel

Hey traders, GDP came in at 1.9% behind expected 2.1%. The kiwi has been strong and this pair is in an upward channel. I am long from here toward the 1.272 extension. Cheers

glennmercer glennmercer PRO USDCAD, 60, Long , 9 days ago
USDCAD: USDCAD EW Count:  Looking for Bullish Impulse
208 3 12
USDCAD, 60 Long
USDCAD EW Count: Looking for Bullish Impulse

Hey traders, we're coming up on a speech from Janet Yellen. I'm expecting some volatility - and if bullish past the entry point I want to be long for the reasons below. I entered last week on a zig-zag completion which stopped out at breakeven as the retracement sank deeper into a double zig-zag correction. SL is placed below invalidation level. Keep in mind, ...

glennmercer glennmercer PRO EURCAD, 60, Long , 14 days ago
EURCAD: EURCAD Wave Count:  Two Triangles Potentially Complete
164 0 15
EURCAD, 60 Long
EURCAD Wave Count: Two Triangles Potentially Complete

Hey traders, I have been following this impulse in wave-1 waiting for a retracement. After the daily close, a bearish wave-c presented itself to complete wave-2. I want to buy here. Movement past invalidation will have me on the sidelines again. Updates to come as the tide rolls, cheers.

glennmercer glennmercer PRO USDCAD, 60, Long , 14 days ago
USDCAD: USDCAD Wave Count:  Trading Wave-C of Zig-Zag
582 9 22
USDCAD, 60 Long
USDCAD Wave Count: Trading Wave-C of Zig-Zag

Hey traders, a potential breakout toward wave-C of this potential zig-zag is approaching. Looking to ride the C wave up toward potential (a)=(c) target. Of course, if invalidation is broken I will be out to re-evaluate. Target is tentative based on price action. Cheers

glennmercer glennmercer PRO GBPAUD, 30, Long , a month ago
GBPAUD: GBPAUD Wave Count:  Bullish Impulse Channel
217 0 13
GBPAUD, 30 Long
GBPAUD Wave Count: Bullish Impulse Channel

In FX it is important to leverage strong currencies against weak currencies. GBP is our strongest and AUD is the weakest on news over the past 24 hours. I'd like to get long through wave-((5))-of-v-of-(v) to ride the bullish trend. Next related predicted volatility due to news is in about 20 hours.

glennmercer glennmercer PRO GOLD, 240, Short , a month ago
GOLD: GOLD Wave Count:  Sideways to Potential Cypher
446 3 16
GOLD, 240 Short
GOLD Wave Count: Sideways to Potential Cypher

Gold is in an uptrend on the hourly chart and a downtrend on the daily chart. On the weekly, we have a classic cypher pattern emerging if price should drop further. During this short-term uptrend (it will likely be short-lived as the wave is best counted as a corrective structure) we can see a channel potentially complete. I won't make any immediate trades, but ...

glennmercer glennmercer PRO JBLU, 60, Long , a month ago
JBLU: JBLU Long: Another Breakout Opportunity!
106 0 12
JBLU, 60 Long
JBLU Long: Another Breakout Opportunity!

Hey traders, here is another bull flag breakout opportunity. I want to buy after resistance is broken. Happy trading

glennmercer glennmercer PRO AUDJPY, 60, Short , 13 days ago
AUDJPY: AUDJPY Short:  Selling the Zig-Zag
247 3 14
AUDJPY, 60 Short
AUDJPY Short: Selling the Zig-Zag

This pair has completed a descending triangle and has exhibited a strong breakout to the up-side. I want to be bullish in the long term after this correction. However, this correction is very possibly going to be sharp to the downside to satisfy the Elliott Wave rule of alternation since we saw a sideways correction in wave-2. Also, the previous red candle was ...

glennmercer glennmercer PRO GBPCAD, 60, Short , 16 days ago
GBPCAD: GBPCAD EW Count:  Looking for a Drop Today
117 0 9
GBPCAD, 60 Short
GBPCAD EW Count: Looking for a Drop Today

Hey traders, looks like the Canadian dollar is responding positively to the trade balance numbers. They were weak but market likely expected weaker. Shorting the pound against CAD here, looking for a drop to the S/R zone. Cheers

glennmercer glennmercer PRO AUDUSD, 60, Long , 17 days ago
AUDUSD: Buying Aussie After RBA Rate Statement
266 2 12
AUDUSD, 60 Long
Buying Aussie After RBA Rate Statement

Hey traders! No surprise here on the RBA release, but a good reason to buy a breakout now while we're channeling upward. Also, we may see some sympathetic long bias after the NZD inflation was released to be pushing 2% q/q. Long is active. Cheers

glennmercer glennmercer PRO GBPCAD, 240, Short , a month ago
GBPCAD: GBPCAD Potential Short After Prelim GDP
215 6 13
GBPCAD, 240 Short
GBPCAD Potential Short After Prelim GDP

UK preliminary GDP released tomorrow. If it disappoints, I want to be short this pair. If it beats forecast, I will be looking for GBP pairings against weaker currencies like the yen. Cheers

glennmercer glennmercer PRO EURCAD, 60, Short , a month ago
EURCAD: EURCAD Short:  Bearish Channel + EW Count
150 1 10
EURCAD, 60 Short
EURCAD Short: Bearish Channel + EW Count

Hey traders! Cad has been strong and this pair has been on its way down in a bearish channel. I will be short if the support is broken toward potential completion of the C wave. Happy trading

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