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
Joined USA GMercerFX
Shoot me an email at GMERCERFX@gmail.com and follow me on twitter @GMERCERFX
Markets Allocation
86 % forex 6 % stocks 0 % commodities 8 % other
Top Mentioned Symbols
USDCAD 9% | 49 EURUSD 9% | 46 USDJPY 8% | 43 AUDUSD 6% | 31
glennmercer glennmercer PRO USDCHF, 30, Short ,
USDCHF: USDCHF Short:  Descending Triangle
126 0 9
USDCHF, 30 Short
USDCHF Short: Descending Triangle

Hey traders, here's a breakout pattern on dollar swiss cross. Short is active with 1:1 B/E level and target at .786 fib.

glennmercer glennmercer PRO AUDNZD, 30, Short ,
AUDNZD: AUDNZD Short:  Potential Triangle Breakout
144 0 12
AUDNZD, 30 Short
AUDNZD Short: Potential Triangle Breakout

Hey traders, looking to short this breakout should one occur. I have a sell stop set below lows with 1:1 B/E level and target at 1.272 extension. Cheers

glennmercer glennmercer PRO EURCAD, 60, Short ,
EURCAD: EURCAD Short:  Free Fall if Lows Are Broken
135 2 10
EURCAD, 60 Short
EURCAD Short: Free Fall if Lows Are Broken

Hey traders, we have another head and shoulders CAD long play here on the EURCAD cross. I'm in if we break lows with SL above recent highs, target at 2:1 and MTBE at 1:1. Cheers

glennmercer glennmercer PRO GBPCAD, 60, Short ,
GBPCAD: GBPCAD Short:  H&S + Channel Breakout = Power Reversal
148 5 12
GBPCAD, 60 Short
GBPCAD Short: H&S + Channel Breakout = Power Reversal

Hey traders, we have a big potential reversal pattern here on GBPCAD. H&S has completed on the 1H with many missed pivots below. Channel breakout will provide resistance against SL. Trade only active at limit and move to B/E target is 1:1. Cheers

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 GBPAUD, 60, Long ,
GBPAUD: GBPAUD Long:  High Base Ascending Triangle Breakout
193 4 8
GBPAUD, 60 Long
GBPAUD Long: High Base Ascending Triangle Breakout

Hey traders, looking for a bullish breakout to continue the bullish impulse on this pair. MA cluster may provide additional support. SL @ 1:1 with target at 1.272 extension. Cheers

glennmercer glennmercer PRO USDCAD, 60, Long ,
USDCAD: USDCAD Long: Bullish Breakout - Ascending Triangle
374 0 16
USDCAD, 60 Long
USDCAD Long: Bullish Breakout - Ascending Triangle

Hey traders, USDCAD flipped the scrip on us and is continuing its bullish momentum. I like the R/R and the support under entry. B/E at 1:1 with a target at the 1.272 extension at a R/R of 2:1. Cheers

glennmercer glennmercer PRO USDCAD, 60, Short ,
USDCAD: USDCAD Short:  Breaking Out of Rising Wedge
329 0 10
USDCAD, 60 Short
USDCAD Short: Breaking Out of Rising Wedge

Hello traders, looks like USDCAD may break out of its rising wedge. As expected we are seeing some volatility surrounding the FOMC minutes but the pair seems to be consolidating below the breakout line. Breakeven at 1:1 with a nice R/R for final target. Cheers

glennmercer glennmercer PRO NZDJPY, 30, Long ,
NZDJPY: NZDJPY Long:  Rally To Missed Pivots
186 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

glennmercer glennmercer PRO EURNZD, 60, Short ,
EURNZD: EURNZD Short:  BIG Potential Reversal - Huge R/R - Gap Fill?
203 4 9
EURNZD, 60 Short
EURNZD Short: BIG Potential Reversal - Huge R/R - Gap Fill?

Hey traders, I really like a short here. All of these missed and unhit pivots are magnets for price. In addition to that, we have an unfilled gap down below. SL and Targets on chart with breakeven level at 1:1. Cheers

glennmercer glennmercer PRO GBPCAD, 60, Long ,
GBPCAD: GBPCAD Long:  Bullish Channel Continuation
209 2 10
GBPCAD, 60 Long
GBPCAD Long: Bullish Channel Continuation

Hey traders, we have an impulsive breakout toward channel continuation. B/E @ 1:1. Target at 1.618 Fib. Cheers

glennmercer glennmercer PRO EURJPY, 120, Long ,
EURJPY: EURJPY Long:  Ascending Triangle - Potential Breakout
241 0 9
EURJPY, 120 Long
EURJPY Long: Ascending Triangle - Potential Breakout

Hey traders, clear resistance forming here at the 122 level. I am long above 122.14 and targetting the 1.272 extension. Drop below 121.275 will invalidate this setup for me. Cheers

glennmercer glennmercer PRO EURNZD, 60, Long ,
EURNZD: EURNZD Long:  Bull Flag Breakout
166 0 9
EURNZD, 60 Long
EURNZD Long: Bull Flag Breakout

Hey traders, I like a long here above resistance. There is likely a density in demand here for both a short squeeze play and a long entry. Breakeven at 1:1. Cheers

glennmercer glennmercer PRO GBPUSD, 240, Long ,
GBPUSD: Keep an Eye on Cable!  Potential Bull Flag Breakout
414 1 17
GBPUSD, 240 Long
Keep an Eye on Cable! Potential Bull Flag Breakout

Hey traders, here's one to keep your eye on throughout the London and New York sessions. Buy stops set above recent highs targetting 1.272 extension... Nice R/R. Cheers

glennmercer glennmercer PRO BXY, 240, Short ,
BXY: $GBP Bearish Bias in the Pound this week
66 1 8
BXY, 240 Short
$GBP Bearish Bias in the Pound this week

Can we keep the pound contained within its bearish channel? If so, expect some powerful bearishness. Only bullish above recent highs.

glennmercer glennmercer PRO JXY, 240, Long ,
JXY: This WeeK:  Uncertainty => Yen Bullishness $JPY $JXY
53 0 9
JXY, 240 Long
This WeeK: Uncertainty => Yen Bullishness $JPY $JXY

Hey traders, I expect this currency to continue north. There's too much uncertainty with Trump's follow-through on policies, North Korean nuclear testing, Syria and ISIS. I like this one long. We also have some technical lining up as shown on the chart.

glennmercer glennmercer PRO ES1!, 240, Short ,
ES1!: $SPY $SPX $USD Expecting further downside this week
104 0 7
ES1!, 240 Short
$SPY $SPX $USD Expecting further downside this week

Watch for break and close below the median line on the 4-hour chart for the S&P500. Potential drop-off could follow...

glennmercer glennmercer PRO ZXY, 240, Short ,
ZXY: $ZXY $NZD A few different short scenarios this week #ElliottWave
16 0 8
ZXY, 240 Short
$ZXY $NZD A few different short scenarios this week #ElliottWave

Hey traders, I wanted to share some short bias on the kiwi for this week. There is clear trendline resistance coming up. If the trendline is broken, be careful trading the breakout as it may be the completion of wave-((B))-of-y. Cheers

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