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 USA GMercerFX
Shoot me an email at GMERCERFX@gmail.com and follow me on twitter @GMERCERFX
Markets Allocation
87 % forex 6 % stocks 0 % commodities 7 % other
Top Mentioned Symbols
USDJPY 9% | 52 USDCAD 9% | 50 EURUSD 8% | 49 AUDUSD 5% | 32
glennmercer glennmercer PRO GBPCAD, 240, Short ,
GBPCAD: GBPCAD Short:  Cypher + Triangle + 500D SMA
71 0 4
GBPCAD, 240 Short
GBPCAD Short: Cypher + Triangle + 500D SMA

Hey traders, looking for short opportunities at this level. I like a weak GBP and a strong CAD this week as the S&P is raging and should rally through the end of the year. Cypher is complete at this level as well as confluence with the 500 day SMA and a number of trendlines. Looking for bearish impulses as confirmation. May make a video to accompany this idea. ...

glennmercer glennmercer PRO GBPNZD, 15, Long ,
GBPNZD: GBPNZD Analysis:  Strong Pound vs. Weak Kiwi
04:02
93 1 7
GBPNZD, 15 Long
GBPNZD Analysis: Strong Pound vs. Weak Kiwi

Hey traders, here's a quick synopsis of a trade I like on a trending pair moving into Friday's London session. Cheers!

glennmercer glennmercer PRO GBPAUD, 1, Long ,
GBPAUD: GBPAUD Analysis:  Elliott Wave, Relative Strength, + MA Support
05:19
130 3 8
GBPAUD, 1 Long
GBPAUD Analysis: Elliott Wave, Relative Strength, + MA Support

Hey everyone, just thought I'd share with you a potential trade idea for the Asian session traders. All is explained in the video. Great feature! Cheers

glennmercer glennmercer PRO USDJPY, 60,
USDJPY: Relative Strength & Weakness:  GBP, USD, JPY, NZD Outlook
07:56
85 0 3
USDJPY, 60
Relative Strength & Weakness: GBP, USD, JPY, NZD Outlook

Hey traders! Testing out the new video feature. Here is a brief summary on my relative strength and weakness indicator as well as analysis of the next 24 hours of trading. Cheers!

glennmercer glennmercer PRO USDCHF, 30, Short ,
USDCHF: USDCHF Short:  Dollar Due to Close Lower
78 0 7
USDCHF, 30 Short
USDCHF Short: Dollar Due to Close Lower

Hi all, I'm setting a sell stop for expected volatility as the S&P drops toward potentially its first down-week in 9 weeks. I expect the market to respond by flocking to the Franc as it has the past couple of days. Cheers.

glennmercer glennmercer PRO EURUSD, 60, Short ,
EURUSD: EURUSD Short:  Continuation after FOMC Dud
546 0 12
EURUSD, 60 Short
EURUSD Short: Continuation after FOMC Dud

Hey traders, not a whole lot of volatility after the FOMC minutes. I like the rejection of the dollar weakness afterwards and the price action says a nice R/R is in order short from here. Targeting larger pattern .382 retracement with SL above MA cluster. Cheers

glennmercer glennmercer PRO NZDCAD, 30, Short ,
NZDCAD: NZDCAD Short:  Great R/R Ahead of CAD GDP @ 12:30GMT
76 0 4
NZDCAD, 30 Short
NZDCAD Short: Great R/R Ahead of CAD GDP @ 12:30GMT

When heavy news is pending, sometimes I like to get into a pair and set my SL to BE in order to let the news remove my risk or send it in the direction of target. Here is a great technical setup which exemplifies this strategy. If CAD GDP comes out stronger than expected, I expect this pair, which is already showing weakness, to continue to drop. Then, at ...

glennmercer glennmercer PRO GBPCAD, 60, Long ,
GBPCAD: GBPCAD Long Limit:  Trade on Break
90 0 4
GBPCAD, 60 Long
GBPCAD Long Limit: Trade on Break

With the bullishness in the pound and potential rate hike anticipation, I want to be long. Trading against the potential short side of the CAD on its weakness recently in addition to upcoming BOC rate statement is a good idea for my trading plan. I am long on a break of highs. Cheers

glennmercer glennmercer PRO EURCAD, 60, Long ,
EURCAD: EURCAD Long Here:  CAD Downside, EUR Volatility
154 0 6
EURCAD, 60 Long
EURCAD Long Here: CAD Downside, EUR Volatility

I am taking a long here in anticipation of potential CAD downside after the BOC rate statement today at 1400 GMT. The upside is riskier than the downside IMO. A move up will allow me to set SL to BE before EUR volatility on Thursday when the ECB releases meeting minutes. I am also looking at GBPCAD long as bullish momentum is strong in the pound. Cheers

glennmercer glennmercer PRO USDCHF, 30, Long ,
USDCHF: USDCHF Long:  Bull Flag - Watch for Breakout!
240 0 12
USDCHF, 30 Long
USDCHF Long: Bull Flag - Watch for Breakout!

Hey all - great opportunity setting up at this bull flag setup. Keep an eye on it!

glennmercer glennmercer PRO USDCAD, 60, Short ,
USDCAD: USDCAD Short:  Resistance at Trendline
210 0 10
USDCAD, 60 Short
USDCAD Short: Resistance at Trendline

This is the area where I was expecting resistance. I want to be short if the 1.2125 level is broken. Target at TL with SL above recent highs as shown.

glennmercer glennmercer PRO USDJPY, 60, Long ,
USDJPY: USDJPY Long:  Double Bottom
418 3 10
USDJPY, 60 Long
USDJPY Long: Double Bottom

USDJPY has formed a double bottom. If resistance is broken, there is a chance that price may carry significant bullish momentum toward ascending target line.

glennmercer glennmercer PRO AUDNZD, 60, Long ,
AUDNZD: AUDNZD Long:  Bullish Momentum
133 0 7
AUDNZD, 60 Long
AUDNZD Long: Bullish Momentum

If short term resistance is pierced, long bias toward top of triangle. SL below support.

glennmercer glennmercer PRO EURUSD, 240, Long ,
EURUSD: Bullish on Euro:  Trending Up
298 0 6
EURUSD, 240 Long
Bullish on Euro: Trending Up

SMA and channel support give this trade a nice backboard behind which to place a stop. Long toward top of channel if resistance is broken.

glennmercer glennmercer PRO EURJPY, 60, Long ,
EURJPY: EURJPY Long:  Potential Reversal Point
220 1 7
EURJPY, 60 Long
EURJPY Long: Potential Reversal Point

I like a long here off of this bullish reversal candle near support. SL under candle with target at top of channel. Gap remains unfilled as well as a missed daily pivot above price.

glennmercer glennmercer PRO USDJPY, 30, Short ,
USDJPY: USDJPY Short:  Fading Out of Rising Wedge
276 0 6
USDJPY, 30 Short
USDJPY Short: Fading Out of Rising Wedge

USDJPY is reaching potential intraday highs at the completion of a rising wedge. I sold at break of support with a SL above resistance as shown. Target line will serve as TP level.

glennmercer glennmercer PRO CADJPY, 30, Short ,
CADJPY: CADJPY Short:  Nice Profit Yesterday - Re-Entry
107 0 4
CADJPY, 30 Short
CADJPY Short: Nice Profit Yesterday - Re-Entry

CADJPY has retraced its gains from yesterday. The bearish impulse was strong yesterday and I want to sell through the Asian and London sessions if lows are broken.

glennmercer glennmercer PRO GBPNZD, 30, Long ,
GBPNZD: GBPNZD Long:  Buying on Break of Resistance
93 0 6
GBPNZD, 30 Long
GBPNZD Long: Buying on Break of Resistance

GBPNZD is in a strong support zone on a higher TF. I'm buying when resistance is pierced on the risk that this higher TF candle will close higher and send the pair toward target line. The R/R is high enough for me to take this risk. Manage your risk first, it is the most important component of trading.

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