glennmercer

PRO
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About me Combining the ideas of Elliott, Wolfe, and Carney to dissect trading opportunities and expose confluence. PM me for custom Pine indicators/strategies and MT4 bots. Follow me on twitter @GMERCERFX
Online Joined 2 years ago USA GMercerFX
Shoot me an email at GMERCERFX@gmail.com and follow me on twitter @GMERCERFX
Markets Allocation
88 % forex 7 % stocks 6 % other
Top Mentioned Symbols
EURUSD 9% | 46 USDCAD 9% | 45 USDJPY 8% | 42 AUDUSD 6% | 30
glennmercer glennmercer PRO USDJPY, 60, Short , 6 days ago
USDJPY: USDJPY: Health Care Bill Vote - What to Look For?
313 0 16
USDJPY, 60 Short
USDJPY: Health Care Bill Vote - What to Look For?

It's been a choppy market lately as indecision sets in over the GOP Health Care Bill vote. Originally scheduled for Thursday, the vote has been pushed back to 3:30p EST today (Friday). If the vote is held it may come as a surprise to some since there is rumor of Paul Ryan nudging Trump toward cancellation to avoid potential failure since he is "lacking ...

glennmercer glennmercer PRO USDCAD, 60, Long , 9 days ago
USDCAD: USDCAD Long:  More Bullish Correction Likely, Wave-(C)
150 0 8
USDCAD, 60 Long
USDCAD Long: More Bullish Correction Likely, Wave-(C)

Hey traders, at this hour USDCAD doesn't have much energy in the tank to rock on these huge breakout continuations. Also, the wave structure is not indicating a continued bearish impulse just yet. We may have a nice long opportunity at the completion of the bullish bat. Cheers

glennmercer glennmercer PRO USDCAD, 120, Short , 14 days ago
USDCAD: USDCAD EW Count:  FOMC + Powerful Wave(c) = Bulls Hold on Tight!
182 1 8
USDCAD, 120 Short
USDCAD EW Count: FOMC + Powerful Wave(c) = Bulls Hold on Tight!

Hey traders, huge bearish move out of the USD as we saw a .25% rate hike which may have already been priced into the market. There should be some more downside ahead as this will likely be a five wave impulse. I am already short, but I will be adding to my position if wave-iv-of-(c) provides a nice flat base. Cheers

glennmercer glennmercer PRO AUDNZD, 240, Short , 14 days ago
AUDNZD: AUDNZD Wave Count:  Poor Employment May Yield Big Correction
205 1 14
AUDNZD, 240 Short
AUDNZD Wave Count: Poor Employment May Yield Big Correction

Hey Traders! Big upset here with the employment announcement out of Australia. We had a nice long trade at the bull flag breakout earlier this week and it may be time to see a big corrective move. So far, I like the impulse down. Trade is active. Cheers Previous Flag: https://www.tradingview.com/chart/AUDNZD/BkRAbU7s-AUDNZD-Wave-Count-Long-on-Pot-Flag-Breakout/

glennmercer glennmercer PRO GOLD, 240, 16 days ago
GOLD: GOLD Outlook + Wave Count:  Cypher complete
194 1 7
GOLD, 240
GOLD Outlook + Wave Count: Cypher complete

We have a possible leading diagonal followed by a breakdown into the completion of a cypher pattern. Price clearly makes a reversal at the cypher's completion, however since the bearish impulse in leg D is relatively strong I will be on the sidelines until further clues present themselves.

glennmercer glennmercer PRO USOIL, 240, Short , 17 days ago
USOIL: USOIL Short:  More Downside Ahead
276 0 13
USOIL, 240 Short
USOIL Short: More Downside Ahead

We saw a vicious impulse last week and there isn't an indication of slowing. The next major support zone is around 45.50.

glennmercer glennmercer PRO UK100, 240, 17 days ago
UK100: FTSE100 Wave Count:  Potential Ending Diagonal?
99 0 9
UK100, 240
FTSE100 Wave Count: Potential Ending Diagonal?

Unlike the Nikkei and SPY, the FTSE100 is less decisively bullish. It looks as though we may be in the midst of an ending diagonal that may present a selling opportunity. For now, I am cautiously bullish but on the sidelines until further signals present themselves.

glennmercer glennmercer PRO EU50EUR, 240, Long , 17 days ago
EU50EUR: Europe 50 Bullish Channel:  Expect More Bullishness
29 0 7
EU50EUR, 240 Long
Europe 50 Bullish Channel: Expect More Bullishness

We can see a clear upward channel here. Unless we see a breakout, I expect further bullishness. We may see some sideways movement first as there may be some resistance from the recently completed triangle. If this is broken, rapid increases are possible.

glennmercer glennmercer PRO JPN225, 240, Long , 17 days ago
JPN225: Nikkei 225:  Ascending Triangle and Buying Opportunity
64 0 8
JPN225, 240 Long
Nikkei 225: Ascending Triangle and Buying Opportunity

Great impulse followed by a sideways correction that's taking the form of an ascending triangle. This is a common continuation pattern and may be an excellent buying opportunity. After the break, I want to be long.

glennmercer glennmercer PRO AUDUSD, 240, Short , 17 days ago
AUDUSD: AUDUSD Wave Count:  Selling Next Impulse
151 0 11
AUDUSD, 240 Short
AUDUSD Wave Count: Selling Next Impulse

We have a potentially completed triangle on the longer timeframe and a few consecutive bearish impulses coming off of it. I want to sell the next one if it should occur. Keep an eye on the 500 level near support for a potential target.

glennmercer glennmercer PRO AUDNZD, 240, Long , 17 days ago
AUDNZD: AUDNZD Wave Count:  Long on Pot. Flag Breakout
122 0 9
AUDNZD, 240 Long
AUDNZD Wave Count: Long on Pot. Flag Breakout

Trends like these are excellent opportunities. The momentum is up, and we have a nice sideways correction to provide support if the pair breaks out. This is on the watch list for the week.

glennmercer glennmercer PRO AUDJPY, 240, 17 days ago
AUDJPY: AUDJPY 4H Choppiness:  Look for Harmonic Patterns
82 1 9
AUDJPY, 240
AUDJPY 4H Choppiness: Look for Harmonic Patterns

This sideways corrective structure on the 4H makes for great entries into harmonic patterns on 15m and 1H charts. Look for upcoming patterns such as the butterfly and cypher as shown. There will likely be more presenting themselves as the week plays out.

glennmercer glennmercer PRO AUDCHF, 240, 17 days ago
AUDCHF: AUDCHF Wave Count:  Channel Breakout + Retest
26 0 8
AUDCHF, 240
AUDCHF Wave Count: Channel Breakout + Retest

Not a very clear picture being drawn on this pair as we have a few factors playing for both bulls and bears. I'll be waiting on the sidelines for either a triangle breakout or further drop past the dotted S/R level.

glennmercer glennmercer PRO AUDCAD, 240, 17 days ago
AUDCAD: AUDCAD Wave Count:  Sideways, Potential Triangle
64 0 8
AUDCAD, 240
AUDCAD Wave Count: Sideways, Potential Triangle

Hey traders, we have an eventful week coming up. I expect some sideways corrective structure prior to Wednesday. Keep an eye on the triangle and the Gartley PRZ to provide potential resistance.

glennmercer glennmercer PRO USDCAD, 120, Short , a month ago
USDCAD: USDCAD Short:  Sell Wave-C
148 0 2
USDCAD, 120 Short
USDCAD Short: Sell Wave-C

Hey traders, this is an update on my previous idea: https://www.tradingview.com/chart/USDCAD/1q5mHtCg-USDCAD-Wave-Count-Update-Possible-Sharp-Reversal-Here/ I'm getting short this pair in anticipation of the wave-C drop. Trade is active.

glennmercer glennmercer PRO USDCAD, 120, Short , a month ago
USDCAD: USDCAD Wave Count Update:  Possible Sharp Reversal Here
273 1 12
USDCAD, 120 Short
USDCAD Wave Count Update: Possible Sharp Reversal Here

Hey traders, here's an update on the wave count for USDCAD. I like the quick powerful rally here followed by corrective structure. Typically, we will see a sharp reversal from this type of move to drop past the original root of the wave. Keep an eye out from a drop from here. After a short bearish impulse, I will open up a short and send an update. Continued ...

glennmercer glennmercer PRO EURAUD, 240, Long , a month ago
EURAUD: EURAUD LONG ENTRY:  Bearish Bat Complete + Double Zig-Zag
180 0 10
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 , a month ago
EURCAD: EURCAD Elliott Wave + Harmonics:  Adding Structure to the Chop
132 0 13
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 ...

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