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glennmercer glennmercer USDCAD, 240, Long ,
337 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 EURUSD, 60, Short ,
253 0 10
EURUSD, 60 Short
EURUSD: Many Reasons to Short

EURUSD has reached an excellent level to look for shorting opportunities. A daily resistance trendline has rejected price on 8/11 and sent the pair downward over some important moving averages. These averages are now being retested and are confluent with the new daily pivot. Below price, there is a missed daily pivot that may help drag the pair downward. The ...

glennmercer glennmercer USDJPY, 60, Long ,
150 0 8
USDJPY, 60 Long
LONG USDJPY: Bullish Signals to Cypher Completion

Hey Traders! USDJPY is showing some bull signs. The break of APRR trendlines on the 15m and 1H chart after a strong bullish impulse allows for optimal entry toward the completion of a potential bearish cypher

frankiev2 frankiev2 EURUSD, 120, Short ,
129 2 4
EURUSD, 120 Short
Bull trend ended?

So friday gave us NFP and as usual we got the pump and dump action before. But in my view we actually got faked out already on thursday in preparation for a much better NFP, but that did not happen and bears got caught. Anyway, we did get a positive dollar reaction even though dollar got hit badly friday a bad EUR did not make it worse. On the hourly we did get ...

glennmercer glennmercer AUDNZD, 60, Long ,
167 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 USDJPY, 60, Short ,
473 2 18
USDJPY, 60 Short
USDJPY Short: Wave 5 Break + Retest (Elliott Wave TCT)

USDJPY has completed wave 3 of a potential 5 wave structure. The pair has broken a trendline to complete wave (i) of 5 and is retesting the trendline at the .618 retracement To add resistance, the 200 EMA and SMA lines sit above price and below the SL level. The daily pivot may also add resistance near entry. Entry is placed at 61.8% retracement with SL above ...

glennmercer glennmercer GBPAUD, 15, Long ,
87 0 4
GBPAUD, 15 Long
Long GBPAUD: TCT, Gartley + Bat + Alt. Bat + Butterfly

GBPAUD has presented a bullish trend on the 15m chart. To enter long, 4 harmonic patterns may potentially align within a tight PRZ. The PRZ is confluent with the daily pivot which may provide support at that level. Entry is placed in the center of the PRZ with SL below Gartley X and target at .618CD. Bullish Confluence: Bullish Gartley Bullish Bat Bullish ...

51 1 0
CADJPY : Long Opportunity

A confluence of Fibonacci and support line around a harmonic pattern spells a long opportunity. The price may try to reach a Fibonacci level of 127.2% at 85.76 but fail since it is seriously oversold. For those who can't wait for the formation to complete as indicated on the chart, wait for at least 87.5 to break set stop a few pips below 85.76

glennmercer glennmercer NZDUSD, 15, Short ,
225 0 7
NZDUSD, 15 Short
NZDUSD Short: Wolfe Wave to Complete Bat

NZDUSD has retested a BAMM line and in doing so has completed a bearish Wolfe Wave. Going short here would target the completion of the Bullish Bat which coincides with both a missed daily pivot and the EPA/ETA combination from the bearish Wolfe Wave. Market entry used with SL above structure highs and target at the completion of the bullish bat pattern.

glennmercer glennmercer GBPCAD, 60, Short ,
184 3 10
GBPCAD, 60 Short
Short GBPCAD: Trigger at BAMM Line Toward Pivot Cluster

GBPCAD is presenting an opportunity to trade a combination of bat action magnet move lines toward a cluster of missed pivots. Trade will be triggered after a candle closes below the BAMM Line (Body) with SL near structure highs. If price should continue to make new structure lows I will move the SL and update the chart accordingly. T1 is at Bat 1 completion and ...

glennmercer glennmercer USDJPY, 60, Short ,
228 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 AUDJPY, 60, Short ,
157 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 AUDCAD, 240, Short ,
357 2 10
AUDCAD, 240 Short
Short AUDCAD: Bat, Crab, Wolfe, Trendline, Pitchfork, Pivots

AUDCAD is nearing a highly confluent zone of resistance. A bearish bat and a bearish crab are set to complete in a tight PRZ that may be contained by trendline and pitchfork resistance. A bearish Wolfe wave setup may also be completed in this area. To add to the bearish bias, two unhit daily pivots sit below price. RSI is overbought as well. Stop loss is ...

glennmercer glennmercer AUDUSD, 240, Long ,
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 EURGBP, 240, Long ,
540 5 11
EURGBP, 240 Long
EURGBP Cypher, Wolfe Wave Complete at Support - Ending Diagonal?

EURGBP has produced a bullish cypher pattern in addition to a number of other bullish signals. The PRZ of the cypher lies at a major support trendline (see chart below). A bullish Wolfe wave setup has been completed in the same area. Bullish RSI divergence is present and is also oversold at the PRZ. To add to the bullish bias, an unhit cluster of pivots sits ...

glennmercer glennmercer AUDCAD, 60, Long ,
404 9 9
AUDCAD, 60 Long
Long AUDCAD: Gartley + Shark at Channel Support

AUDCAD has completed bullish Gartley and bullish shark patterns at significant channel support. Two unhit daily pivots sit above price to add to bullish bias. Targets are placed at .382 and .618 retracements of CD. Confluence in the PRZ: Bullish Gartley pattern completion 1.272BC projection (Gartley) AB=CD (Gartley) Bullish shark pattern completion 1.618BC ...

glennmercer glennmercer USDCAD, 60, Long ,
309 0 7
USDCAD, 60 Long
LONG USDCAD: Possible Butterfly Complete at Trendline Support

USDCAD may potentially be completing a bullish butterfly pattern at a key support trendline that dates back to May, 2015. At the butterfly completion point, there are three key levels that are precisely confluent: 1.272XA, 2.24BC, and 1.5AB=CD. To add to the bullish bias, MACD and momentum divergence are present on the 1HR TF and an unhit daily pivot sits above ...

glennmercer glennmercer USDCHF, 60, Short ,
100 0 3
USDCHF, 60 Short
Short USDCHF: Bearish Shark to Pivots

USDCHF has completed a bearish shark at confluent reversal zone. Unhit weekly and daily pivots add pressure to the downside. The new unhit daily pivot aligns with .382cd and makes for a nice target level. SL above S/R provides a substantial R/R. A more aggressive T2 may be placed at .618CD. Confluence in the PRZ: 1. Bearish Shark Completion 2. 1.618bc 3. ...

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