targetline

glennmercer glennmercer PRO EURGBP, 60, Short ,
EURGBP: EURGBP Short: Bearish Wolfe Wave
238 3 10
EURGBP, 60 Short
EURGBP Short: Bearish Wolfe Wave

EURGBP has completed a bearish Wolfe Wave setup and may be ready to short toward the target line. Triangle is complete on the APRR oscillator as well. As always, it's a good idea to wait for confirmation before placing a trade. Close below the 1-3 extension would be a good indicator of continued bearish pressure in this case, with a tight stop above recent ...

Steven_Maas Steven_Maas NZDUSD, 240,
NZDUSD: NZDUSD downmove with Take Profits
41 0 2
NZDUSD, 240
NZDUSD downmove with Take Profits

NZDUSD reached a new minor accumulation area. New target is well visible as well as the previous one I took last week on wednesday. I'm guessing this is leaning towards a big dip down as the trend based fibonacci extensions miraculously match the important support/resistance levels I drew on the daily chart. A match on all three 1.618, 2.272 and the 2.618 which ...

glennmercer glennmercer PRO EURJPY, D, Long ,
EURJPY: Long EURJPY: Bat + Wolfe + AB=CD + Divergence (2X) + TL Support
206 0 6
EURJPY, D Long
Long EURJPY: Bat + Wolfe + AB=CD + Divergence (2X) + TL Support

EURJPY is nearing the PRZ of a series of bullish patterns. A medium term bullish trendline may add support to the reversal zone. To add to the bullish bias, MACD and RSI have both printed bullish divergence. Entry is placed in the center of the PRZ with SL below structure lows and Bat X point and target at .618CD. Confluence in the PRZ: Bullish Bat Bullish ...

Bandarsq Bandarsq PRO EURUSD, 30, Long ,
EURUSD: Inverted Head & Shoulders
619 0 16
EURUSD, 30 Long
Inverted Head & Shoulders

Breakout accrued followed by test to the neckline.

glennmercer glennmercer PRO USDJPY, 60, Short ,
USDJPY: USDJPY Short: Bearish Wolfe Wave to Pivot
221 2 6
USDJPY, 60 Short
USDJPY Short: Bearish Wolfe Wave to Pivot

USDJPY has completed a nice bearish Wolfe Wave setup on the 1HR chart. The target line is confluent with the unhit daily pivot for 11/30/15. Entry: Market (around 123.07) SL: Above recent highs TP: Unhit daily pivot R/R: 1.6 Thanks for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!

glennmercer glennmercer PRO AUDCAD, 60, Short ,
AUDCAD: AUDCAD Short: Bearish Wolfe Wave Complete at Resistance
193 0 9
AUDCAD, 60 Short
AUDCAD Short: Bearish Wolfe Wave Complete at Resistance

AUDCAD has completed a bearish Wolfe Wave setup at a crucial point of resistance. In the Wolfe wave sell zone, two 200% projections are closely aligned. In addition to this, a strong long term trendline sits at current price to provide potential resistance. To add to the bearish bias, MACD is bearish divergent and multiple missed daily pivots sit below price. ...

glennmercer glennmercer PRO AUDJPY, 60, Short ,
AUDJPY: $AUDJPY Short: Wolfe, 2 Crabs, Pivots, Divergence, Overbought
156 0 7
AUDJPY, 60 Short
$AUDJPY Short: Wolfe, 2 Crabs, Pivots, Divergence, Overbought

AUDJPY has completed a bearish Wolfe Wave setup in the PRZ of two confluent bearish harmonic crabs. RSI is overbought and has printed bearish divergence. To add to bearish bias, two unhit pivots sit below price. SL is placed above the PRZ with target at .618CD (yellow crab). Confluence in the PRZ: Two bearish crab patterns complete Bearish Wolfe wave ...

glennmercer glennmercer PRO CADJPY, 60, Short ,
CADJPY: CADJPY Ideal Bearish Wolfe Wave
177 2 6
CADJPY, 60 Short
CADJPY Ideal Bearish Wolfe Wave

CADJPY has completed a very nice bearish Wolfe Wave setup. SL is placed above recent highs with target at the 1-4 projection line.

glennmercer glennmercer PRO CADJPY, 60, Short ,
CADJPY: Short CADJPY: Gartley + Wolfe + TL + Pivot
254 1 12
CADJPY, 60 Short
Short CADJPY: Gartley + Wolfe + TL + Pivot

CADJPY has completed a bearish Gartley pattern and has thus far respected its resistance in the potential reversal zone. The Gartley PRZ falls in the sell zone of a bearish Wolfe wave which produces a confluent target with the harmonic pattern. To add to bearish bias, an unhit monthly pivot sits below price. SL is set above Gartley 'X' point with targets at ...

glennmercer glennmercer PRO USDJPY, 60, Short ,
USDJPY: USDJPY Short: 2 Bats, Continuation of Larger TF Bearish Gartley
203 0 6
USDJPY, 60 Short
USDJPY Short: 2 Bats, Continuation of Larger TF Bearish Gartley

After a bullish Wolfe Wave setup completed for +50 pips, profit-taking may bring the pair back down again. Two confluent harmonic patterns present an excellent R/R for re-entry to catch the continuation of bearish movement related to the daily Gartley pattern (see related ideas). Price has been contained below the Wolfe Wave targetline and any close above ...

glennmercer glennmercer PRO AUDUSD, 240, Long ,
AUDUSD: Long AUDUSD: Wolfe, Bat, Trendline, Butterfly & Unhit Pivots
586 8 17
AUDUSD, 240 Long
Long AUDUSD: Wolfe, Bat, Trendline, Butterfly & Unhit Pivots

AUDUSD is nearing the PRZ of a cluster of bullish patterns. A large bullish bat contains a bullish butterfly in its D leg. In the PRZ of these two patterns, a bullish Wolfe wave setup has been completed. A D1 trendline sits at the base of the PRZ and may act as support when price reaches this area. To add to the bullish bias, two unhit pivots sit above price. ...

glennmercer glennmercer PRO AUDUSD, 60, Short ,
AUDUSD: Short AUDUSD: Wolfe Wave + 3 Patterns at Trendline Resistance
377 0 12
AUDUSD, 60 Short
Short AUDUSD: Wolfe Wave + 3 Patterns at Trendline Resistance

AUDUSD has entered the PRZ of 3 bearish harmonic patterns. The zone falls in the sell area of a bearish Wolfe Wave and is backed by strong resistance. SL is placed above bat completion. Targets are set at .382 and .618 retracements of CD. Confluence in the PRZ: Bearish bat pattern completion (2X) Bearish crab pattern completion Bearish Wolfe wave Strong ...

glennmercer glennmercer PRO GBPJPY, 240, Short ,
GBPJPY: GBPJPY SHORT: 3 Harmonic Patterns + Wolfe Wave + Pivots
315 2 8
GBPJPY, 240 Short
GBPJPY SHORT: 3 Harmonic Patterns + Wolfe Wave + Pivots

GBPAUD may potentially complete 3 bearish advanced patterns which would all be confluent with a bearish Wolfe Wave setup. To add to the bearish bias, an unhit weekly pivot sits below price. This provides for a nice target since it coincides with .618CD. SL is placed above X. KILL ZONE CONFLUENCE: Bearish cypher pattern completion 2.24AB=CD (cypher) 1.618BC ...

glennmercer glennmercer PRO EURJPY, 60, Short ,
EURJPY: Short EURJPY: 5 Reasons
227 0 7
EURJPY, 60 Short
Short EURJPY: 5 Reasons

EURJPY is showing bearish price action in the PRZ of multiple confluent harmonic patterns. After completing a bearish bat, price was rejected at the PRZ and is retesting the reversal area. In this area we have two bearish butterflies that have completed at trendline resistance and a bearish Wolfe wave setup as well. To add to the bearish bias, two unhit weekly ...

glennmercer glennmercer PRO GBPUSD, 60, Short ,
GBPUSD: Short GBPUSD: Bearish Crab + Pivot Cluster + Wolfe + S/R
471 0 8
GBPUSD, 60 Short
Short GBPUSD: Bearish Crab + Pivot Cluster + Wolfe + S/R

GBPUSD has formed a potential bearish crab which contains a PRZ that coincides precisely with an unhit pivot cluster and a potential Wolfe Wave target. As profits are taken at the pivots, price may have a tendency to reverse quickly and drastically. SL is placed above a significant support and resistance area. Profit is taken at the PRZ of a potential bullish ...

glennmercer glennmercer PRO GBPCAD, 240,
GBPCAD: GBPCAD OUTLOOK: BULLISH SHARK TO BEARISH 5-0 CONTINUATION
170 0 4
GBPCAD, 240
GBPCAD OUTLOOK: BULLISH SHARK TO BEARISH 5-0 CONTINUATION

My daily outlook on GBPCAD is bearish, but I see one more bounce occurring before bearish PA continues. A bullish shark will potentially be completing at point 4 in a parallel channel. Traders who are short this pair, like myself, may think about taking profit in the PRZ and re-entering after this move is completed. Alternatively, this may be traded as a scalp ...

glennmercer glennmercer PRO NZDUSD, 240, Short ,
NZDUSD: SHORT NZDUSD: WOLFE WAVE + GARTLEY + TREND FOLLOWING
435 0 10
NZDUSD, 240 Short
SHORT NZDUSD: WOLFE WAVE + GARTLEY + TREND FOLLOWING

NZDUSD completed a bearish Wolfe Wave pattern last week and is nearing the PRZ of a bearish Gartley to possibly continue its movement south. This pair has been in a 14 month long downtrend and the steep pitch of the 1-4 Wolfe Wave target line signifies a deeper continued drop is possible. Those who missed the WW sell entry will have an opportunity to enter when ...

glennmercer glennmercer PRO EURAUD, 60, Short ,
EURAUD: Short EURAUD: Bat + Alternate Bat + Wolfe Wave
121 0 5
EURAUD, 60 Short
Short EURAUD: Bat + Alternate Bat + Wolfe Wave

EURAUD showed great strength today after hawkish comments from ECB president Mario Draghi sent it rallying through my previous PRZ. I am again bearish on this pair as there are two bat setups completing near an optimal Wolfe Wave sell zone. A new daily pivot sits below price to add to the bearish bias. Targets are placed at the new pivot and near the 1-4 WW ...

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