missedpivots

glennmercer glennmercer PRO USDJPY, 60, Short ,
USDJPY: USDJPY Potential Short:  Power Reversal
514 2 14
USDJPY, 60 Short
USDJPY Potential Short: Power Reversal

Hey traders, this pair has broken some short term support. This is a potential scenario if the pair does in fact continue to show weakness, which means this is a sell stop order and is not active unless price reaches entry before invalidating the trade. Big R/R if successful. Cheers

glennmercer glennmercer PRO NZDJPY, 30, Long ,
NZDJPY: NZDJPY Long:  Rally To Missed Pivots
187 2 6
NZDJPY, 30 Long
NZDJPY Long: Rally To Missed Pivots

Hey traders, here's a NZDJPY cross trade. I like the price action off of the short term moving averages. Lots of support between entry and SL. Targets are big, with a nice R/R. B/E @ 1:1. Cheers

Tradewave Tradewave PRO USDMXN, 240, Long ,
USDMXN: USDMXN
72 1 4
USDMXN, 240 Long
USDMXN

USDMXN Long Idea Currently the pair has missed two consecutive monthly pivots. We are approaching the end of the month and the third monthly pivot (currently still forming) is currently at 19.28. Looking for long opportunities to buy long towards 3rd Monthly pivot. I have a buy limit at 18.95 (1 Unit Long) and one at 18.50 (5 Units long) Stop below 18.00

glennmercer glennmercer PRO USDCAD, 60, Long ,
USDCAD: USDCAD Long:  Breakout Awaits!
438 5 14
USDCAD, 60 Long
USDCAD Long: Breakout Awaits!

USDCAD has broken out of a short parallel channel in addition to many resistance and trendline piercings. I am a buyer over short term resistance during these next three hours of high volatility. Updates to come, cheers all

glennmercer glennmercer PRO USDCAD, 240, Short ,
USDCAD: USDCAD Correction and Gartley Complete:  Selling the Pullback
452 4 14
USDCAD, 240 Short
USDCAD Correction and Gartley Complete: Selling the Pullback

Hey traders! The bearish move toward gartley completion carried out as predicted and we now have a complete five wave impulse structure. I want to see some bullish price action before continued bearish movement. Therefor, I will be selling the pullback to the trendline violation area. I will likely be using this position as a hedge for the EURUSD 4H short ...

glennmercer glennmercer PRO USDJPY, 45, Short ,
USDJPY: USDJPY Short Setup & Strategy Tip
258 0 12
USDJPY, 45 Short
USDJPY Short Setup & Strategy Tip

Hey traders! I want to sell from these levels, but not until I see a completion of the first wave down followed by a pullback. I want to maximize my R/R and ensure the trade is going in my favor first. Many pivot targets below price. I will update with a trade idea if/when the time comes. Stay tuned!

glennmercer glennmercer PRO EURGBP, 30, Short ,
EURGBP: EURGBP SHORT:  Pin Resistance At Completion of Bat & Gartley
793 8 14
EURGBP, 30 Short
EURGBP SHORT: Pin Resistance At Completion of Bat & Gartley

Entry triggered at the long-term watch level on this pair. Targets are deep, and there are four of them. First target to watch is the weekend gap fill. Of course with these tight stops you have a high probability of stop-put, if you take trades like these manage risk accordingly. I placed SL tightly above highs because any rally above will invalidate the setup ...

Dreadlegion Dreadlegion PRO USDMXN, 240, Short ,
USDMXN: short USDMXN adding to on break of trend line
35 0 0
USDMXN, 240 Short
short USDMXN adding to on break of trend line

FX:USDMXN has been on a savage tear the last 2 weeks. It has printed multiple Knoxville divergences as well. Using pivot points and trend lines, I shorted this on break of the last trend line. It now has 2 missed weekly piots, and 1 unhit weekly pivot. I want to short again on a break of the current trend line (which should also make it hit the weekly pivot). ...

glennmercer glennmercer PRO GBPJPY, 60, Short ,
GBPJPY: GBPJPY Short: 5-0 Pattern to Missed Pivots
433 2 15
GBPJPY, 60 Short
GBPJPY Short: 5-0 Pattern to Missed Pivots

Hey Traders! GBPJPY has entered the potential reversal zone for point E on a 5-0 pattern. The short at the 0.500 fib retracement remains valid unless price drops lower than 1.345 without entering the short area. Any entry into the short area from these levels will warrant a short and the pattern will be triggered and active. SL is placed above point B with ...

glennmercer glennmercer PRO GBPJPY, 240, Short ,
GBPJPY: GBPJPY: Key Levels To Short
277 0 9
GBPJPY, 240 Short
GBPJPY: Key Levels To Short

Hey Traders! Here are a few levels to look for to short this pair. The first level I'll be looking for is break out of the rising wedge. A close below the bottom of the wedge will likely mean further price action toward the target zone. If no breakout occurs, I'll be looking for rejection at the Gartley PRZ, then the deep crab if the bullish pullback is strong ...

glennmercer glennmercer PRO USDCAD, 240, Long ,
USDCAD: USDCAD: Key Levels to Watch for Potential Entry
229 0 13
USDCAD, 240 Long
USDCAD: Key Levels to Watch for Potential Entry

Mornin' traders! There are a couple of key levels to watch here on USDCAD. The most important of which to me is the 1.284 area. Before taking a long position I want to see price close the weekend gap and touch the unhit daily pivot for Friday. Since a higher low was created from a bullish impulse, I will be looking for bullish price action (pinbars, engulfing ...

glennmercer glennmercer PRO GBPUSD, M, Short ,
GBPUSD: Cable Monthly H&S - Wait for Bounce
163 0 10
GBPUSD, M Short
Cable Monthly H&S - Wait for Bounce

There is a clear head and shoulders pattern complete on the monthly chart for cable. Instead of shorting the pair immediately, I'd rather sell it from the 1.6 area to create a higher R/R and minimize risk. If we see a monthly pinbar for August I will be buying the pair up to this level on the 1-4 hour TF. There's an overage of pessimism surrounding the GBP at ...

glennmercer glennmercer PRO USDJPY, 240, Long ,
USDJPY: USDJPY Long: Multichannel Rebound
186 0 10
USDJPY, 240 Long
USDJPY Long: Multichannel Rebound

USDJPY may potentially produce a reverse head and shoulders pattern at the base of two descending channels. Two weekly pivots sit above price and are confluent with important fib levels. If price does not met entry, the trade will be cancelled and I may start to consider short opportunities. If SL is hit, there may be a wolfe wave complete just beyond the base ...

glennmercer glennmercer PRO USDJPY, 60, Long ,
USDJPY: USDJPY Long: Potential Expanding Triangle, Bat, Missed Pivots
741 1 14
USDJPY, 60 Long
USDJPY Long: Potential Expanding Triangle, Bat, Missed Pivots

Hey traders! USDJPY is approaching a potential reversal zone that could spark a large bullish move. A bullish bat is nearing completion near the descending trendline. Missed weekly and unhit weekly pivots sit above price. The .382 fib is also confluent with the missed pivot from last week which may signify a nice supply zone. Movement past the 1.272 mark ...

glennmercer glennmercer PRO AUDNZD, 240, Long ,
AUDNZD: AUDNZD Long: Expanding Wedge Complete at Critical Level
267 1 10
AUDNZD, 240 Long
AUDNZD Long: Expanding Wedge Complete at Critical Level

Greetings traders! AUDNZD has reached an important level. The 4H shows a nice expanding triangle that may add support near a potential point E. On the daily chart, there is strong support from a parallel channel. In addition to this, we have two precisely confluent fib levels (1.272AB=CD and 1.5AB extension). Since I'm seeing some pin rejection at the base ...

glennmercer glennmercer PRO NZDCAD, 240, Short ,
NZDCAD: NZDCAD Short: Wolfe Wave + Expanding Triangle at 50% Retrace
162 0 11
NZDCAD, 240 Short
NZDCAD Short: Wolfe Wave + Expanding Triangle at 50% Retrace

After the RBNZ announcement cancelled the last NZDCAD short, a new opportunity has presented itself. A bearish WW has formed with the touch of the 2-4 parallel confluent with the 50% retracement level. We also have a potential E point of an expanding triangle complete which may mark a larger reversal from these levels. On the daily chart, the pair is contained ...

glennmercer glennmercer PRO AUDNZD, 60, Long ,
AUDNZD: AUDNZD Long: Breakout to Potential Bat Completion
156 0 8
AUDNZD, 60 Long
AUDNZD Long: Breakout to Potential Bat Completion

AUDNZD has broken through the bullish channel center line and countertrend resistance. There is also a missed daily pivot above price which may add to bullish bias. Watch for resistance around the top of symmetrical triangle, BAMM line, and top of the rising channel. Entry is placed at the retest of the trendline with targets at bat point B and bat completion. ...

glennmercer glennmercer PRO NZDUSD, 60, Long ,
NZDUSD: Long NZDUSD: Cypher + Shark + Pivots + Divergence + Oversold +TL
273 4 7
NZDUSD, 60 Long
Long NZDUSD: Cypher + Shark + Pivots + Divergence + Oversold +TL

NZDUSD has entered the PRZ of two bullish harmonic patterns. The PRZ is supported by two weekly trendlines and a series of missed pivots sit above price which may help add to bullish bias as well. Divergence can be observed on both MACD and RSI oscillators, in addition to an oversold RSI. Entry is placed at the base of the PRZ with SL below the second weekly ...

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