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Daily Pivots

Short GBPCAD: Trigger at BAMM Line Toward Pivot ClusterGBPCAD 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 T2 is at Bat 2 completion. A third target will be placed at the pivot cluster if the bullish bat patterns reach their respective targets and another short opportunity presents itself. If this occurs I will publish a new short idea targeting the pivots.
Short
by glennmercer
3
$AUDJPY Short: Wolfe, 2 Crabs, Pivots, Divergence, OverboughtAUDJPY 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 setup Unhit daily pivot below price Missed daily pivot below price RSI overbought Bearish RSI divergence Thank you for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Short
by glennmercer
Short AUDCAD: Bat, Crab, Wolfe, Trendline, Pitchfork, PivotsAUDCAD 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 placed above Bat X with targets at .382 and .618 CD retracement levels. Confluence in the PRZ: Bearish bat pattern completion 1.618AB=CD (bat) 1.618BC projection (bat) Bearish crab pattern completion 3.5AB=CD (crab) 6.786BC projection (crab) Bearish Wolfe wave set up Trendline resistance Pitchfork resistance Unhit pivots below price RSI overbought Thanks for your support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Short
by glennmercer
2
Long AUDUSD: Wolfe, Bat, Trendline, Butterfly & Unhit PivotsAUDUSD 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. SL is set below X of the large bat pattern. Targets are placed at the 382 and .618 retracements of the bat CD leg. Confluence in the PRZ Bullish bat pattern completion 2.24BC projection 2AB=CD Bullish butterfly pattern completion 3.382BC projection 1.5AB=CD Bullish Wolfe Wave setup Strong D1 trendline support Unhit daily and weekly pivots above price D1 Trendline Support: Thanks for viewing and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Long
by glennmercer
8
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 above price. I've counted a 5 wave bearish impulse with a possible ending diagonal that could be followed by sharp bullish price action. Target is set at the unhit monthly pivot. SL is placed below trendline support. Confluence in the PRZ: Bullish cypher pattern completion Bullish Wolfe wave pattern completion Major trendline support Unhit pivots above price Possible ending diagonal RSI oversold Bullish RSI divergence D1 Trendline Support: Thanks for your support and don't forget to click the thumbs up button and follow me for future updates and more trade ideas!
Long
by glennmercer
5
Long AUDCAD: Gartley + Shark at Channel SupportAUDCAD 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 projection (shark) 4AB=CD (shark) 2 unhit daily pivots above price Possible pitchfork support Strong channel support at PRZ Bullish Channel: Note: ANZ Business Confidence released within an hour. I will not be entering AUD or NZD trades until news release. Thanks for your support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Long
by glennmercer
9
EURUSD Short: 2 Very High Confluency PRZ'sEURUSD is approaching an area of highly confluent short opportunities. I have broken the zones into 2 separate PRZ's to make the boundaries more distinct. I have a short entry at the top of the first PRZ with a SL outside PRZ2. Target placed just above the ab terminus which would coincide with .618cd. Reasoning for each PRZ is broken out below. PRZ1 Confluence: Missed Weekly Pivot Bearish Crab Completion Bearish Butterfly Completion 1.5ab=cd 1.618ab=cd 1.786ab=cd Missed Daily Pivot 0.5XA Retracement 0.5AB Retracement Bearish Knoxville Divergence Printed PRZ2 Confluence: Bearish Crab Completion 1 Bearish Crab Completion 2 0.618AB Retracement If entry is triggered and target is achieved, I will be looking for bullish opportunities around the deep crab completion level near 1.06
Short
by glennmercer
LONG USDCAD: Possible Butterfly Complete at Trendline SupportUSDCAD 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 price. This pivot provides a nice target as it coincides with the .618 retracement of the butterfly CD leg. SL is placed below the long term trendline support. Confluence in the PRZ: Bullish butterfly pattern completion Long term trendline support Bullish MACD Divergence Bullish momentum divergence Unhit daily pivot above price 1.5AB=CD 2..24BC Projection Thank you for viewing!
Long
by glennmercer
WW T2 Achieved: Now Short on Wolfe Wave, Bat & ButterflyEURJPY has achieved Wolfe Wave T2 (attached below) and is completing a series of bearish patterns in a confluent reversal zone. On the longer TF, a 1.13 projection of 0X lies at the top of the PRZ. There are also bearish bat and butterfly patterns completing in the area of a Wolfe Wave SELL zone. Missed pivots lie below price which may also drag down price. Entry in the middle of the PRZ with targets at the 1-4 WW target line and the .618 allow for a R/R of about 2.5. Confluence in the PRZ: 1. Bearish Bat Completion 2. Bearish Butterfly Completion 3. 3.14BC 4. 1.13 0X 5. AB=CD 6. 3 bc Projections 7. Bearish Wolfe Wave completion Thanks for viewing and don't forget to take a second to hit the thumbs up and follow for future updates and more trade ideas. Comments welcome! Long on Wolfe Wave: Long on Bullish Crab:
Short
by glennmercer
Buy OPK: Bullish Bat Complete at Psychological SupportOPK has completed a bullish bat pattern at an excellent support level. Price is showing clear signs of respecting the tight and confluent PRZ and may begin to reverse toward the upside in the next couple of days. The company has strong fundamentals with Phillip Frost's outstanding track record in biopharmaceutical innovation as its backbone. PRZ Confluence: 1. Bullish Bat Completion 2. 3.14BC Projection 3. 1.886AB=CD 4. 10 dollar psychological support level T1 is set at .382XA and the unhit monthly pivot for September, 2015. T2 is set at .618XA, confluent with a missed pivot cluster.
OLong
by glennmercer
MT Daily PivotsMT Daily Pivots indicator lets you see the market pivot points clearly using a proprietary statistical range and Fibonacci formula - which also allows you to chose from a choice of pivot point starting places, from the standard, open, prior close and others. Also using a statistical % evaluation of the market range the pivot points can also be adjusted to show a % zone of where the market will test and reverse or break. All configurable in the options. In the scenario currently we maintaining support long at the Pivot Point zone - after a retracement from R1 So really this has a slight bullish bias - but could pivot short... to test s1 and s2 areas. So currently bullish but not strong... however a break of R1 could easily push to R2. Works in any intraday time frame on any market
FX:USOILLong
by microtrends
2