s/rzone

glennmercer glennmercer PRO GBPAUD, 15, Long , a year ago
GBPAUD: GBPAUD Long: Breakout to New Monthly Pivot
366 1 11
GBPAUD, 15 Long
GBPAUD Long: Breakout to New Monthly Pivot

GBPAUD has broken a bearish trendline and could possibly reach its new monthly pivot for February, 2016. This is a simple mean reversion trade based on structural S/R and a trendline breakout. Support may be found at the 200SMA and 200EMA lines in addition to S/R from structural lows. The short-term bullish trendline may also add support should price reach ...

glennmercer glennmercer PRO GBPNZD, 60, Long , a year ago
GBPNZD: GBPNZD Wave Count: Bull Bat ABC Continuation to Gartley Target
323 2 11
GBPNZD, 60 Long
GBPNZD Wave Count: Bull Bat ABC Continuation to Gartley Target

On the daily time frame, price has been rejected at the PRZ of two larger harmonic bullish patterns (Bat + Gartley). The rejection was swift with a 5 wave bullish impulse, followed by a triangle correction and another small impulse to complete a 3 wave pattern (labeled here as (A) of a possible zig-zag correction). Now we are nearing the completion of a bullish ...

glennmercer glennmercer PRO USDCAD, 15, Long , a year ago
USDCAD: Long USDCAD: Bat + Butterfly + S/R + Trendline + Pivot
237 2 7
USDCAD, 15 Long
Long USDCAD: Bat + Butterfly + S/R + Trendline + Pivot

Happy New Year, traders! Here is a trade to consider after the holiday. USDCAD has completed 2 bullish harmonic patterns at week-long trendline support. The PRZ falls in a S/R zone and the new weekly pivot for 1/3/2016 coincides with the 50% retracement of the CD leg, making this a nice level at which to take profit. To add to bullish bias, RSI has printed ...

glennmercer glennmercer PRO GBPNZD, 60, a year ago
GBPNZD: GBPNZD: Long at BAMM Line, Short at BAT
320 4 10
GBPNZD, 60
GBPNZD: Long at BAMM Line, Short at BAT

A series of two trades is setting up on GBPNZD. The first is a long position after the close above the BAMM line (body) toward the bat PRZ and S/R Zone. The second, should price reach the bat PRZ, is a bearish bat opportunity. This iwll be an excellent opportunity to short because the resistance structure is strong in this area. Entry is placed at .886XA with ...

glennmercer glennmercer PRO GBPCAD, 60, Short , a year ago
GBPCAD: GBPCAD Short: Bearish Bat + S/R Zone
60 0 5
GBPCAD, 60 Short
GBPCAD Short: Bearish Bat + S/R Zone

GBPCAD is nearing the PRZ of a bearish bat pattern. This bat may continue the bearish movement to the completion of a larger TF bullish bat (see related ideas). Entry is placed at .886XA with SL at 1.13XA and TP at .618CD. Confluence in the PRZ: .886XA (Bat completion) 3AB=CD 1.618BC Projection Larger TF BAMM Line (related ideas) S/R Zone

glennmercer glennmercer PRO CADJPY, 60, Short , a year ago
CADJPY: CADJPY Short: Bearish Cypher + Shark Trend Continuation Trade
88 0 7
CADJPY, 60 Short
CADJPY Short: Bearish Cypher + Shark Trend Continuation Trade

CADJPY is nearing the PRZ of a 2 confluent bearish patterns on the 1HR chart. The PRZ falls in a significant S/R zone and may potentially continue the downtrend. Entry is placed at the top of the PRZ with SL at 1.13XA and targets at .382 and .618 retracements of the CD leg. Confluence in the PRZ: Bearish Cypher Bearish Shark 2.5AB=CD 1.618BC Projection S/R Zone

glennmercer glennmercer PRO AUDUSD, 60, Short , a year ago
AUDUSD: AUDUSD Short: Cypher Inside of Channel
214 0 7
AUDUSD, 60 Short
AUDUSD Short: Cypher Inside of Channel

AUDUSD is nearing the completion of a bearish cypher pattern on the 1HR chart. The PRZ may find resistance from the center of a rising channel. Entry is placed at the top of the PRZ with SL at 1.13XA and target at .5CD. Confluence in the PRZ: Bearish cypher 1.272BC Projection 2.5AB=CD Channel center resistance S/R Zone

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