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Glennmercer

AUDUSD Short: Shark + Wolfe + S/R + Trend ContinuationAUDUSD is nearing the PRZ of a bearish shark in a S/R zone that is confluent with the a bearish Wolfe Wave setup. 200 EMA and SMA may add resistance in this area. To add to bearish bias, this pair has been in a strong downtrend and this would give us an opportunity to ride it down to the .886 fib if price should reach the PRZ. Entry is placed at the shark pattern completion point with a SL above 1.272XA/Moving averages and targets at .618CD, C point, and the .886 fib retracement level. Bearish Confluence: Bearish shark pattern completion 2.272AB=CD 1.618BC Projection Bearish Wolfe Wave setup S/R Zone 200SMA Resistance 200EMA Resistance Trend Continuation
Short
by glennmercer
8
Long GBPJPY: Alternate Bat at Trendline SupportGBPJPY has completed a bullish bat at strong trendline support. This allows for a 5:1 R/R because a break and close below the trendline nullifies the trade. In addition to the pattern completion, there was a strong breakout from a 1D trendline that may potentially be retested. A missed pivot cluster may add to the bullish bias. We also have bullish RSI divergence printed, which is also oversold. Entry at current levels with SL below structure lows and target at the .382 retracement of the CD leg. The target is confluent with the missed pivot cluster. Confluence in the PRZ: Bullish alternate bat pattern complete Strong daily trendline support Missed pivot cluster at .382CD retracement Bullish RSI divergence RSI Oversold Possible retest of breakout line
Long
by glennmercer
2
EURNZD Bullish 2618 to Bearish Bat + Gartley + ButterflyEURNZD had formed a double bottom and retraced 61.8% to give us an entry for a bullish 2618 trade. At the 127% extension where profit is commonly taken, 3 bearish harmonic patterns may present themselves within a tight PRZ. On the higher TF, a larger bullish shark is emerging. Trade 1: Bullish 2618: Entry at the 61.8% retracement level SL is placed below the double bottom Target is taken at the 127.2% extension Trade 2: Bearish Bat + Butterfly + Gartley Entry in the center of the PRZ TP at .618CD (or move to B/E at this level and let the trade run toward the bullish shark completion) SL outside of 113% XA Thanks for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Long
by glennmercer
Long EURUSD: Crab + Shark + Fan Support + S/R ZoneEURUSD may potentially complete a pair of bullish harmonic patterns within a very tight PRZ. The PRZ is confluent with a horizontal support/resistance zone and depending on timing may find added support from the .5 fib fan taken from structure low to structure high. SL is placed beyond 1.272XA with targets at .382CD and .618CD retracements of the bullish advanced patterns. Confluence in the PRZ: Bullish shark pattern completion Bullish crab pattern completion Strong S/R zone .5 fib speed fan support TCT 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
USDCAD Long: Gartley TCT at Wave ((iv)) S/R ZoneUSDCAD has completed a bullish Gartley pattern in in a significant area of support. The Gartley PRZ is confluent with previous wave four support, making it possible to catch fifth wave movement to the completion of the impulse. On the longer term, I am bearish on this pair as multiple D1 bearish patterns are emerging. Near-term, this TCT has a R/R of 4.4 and the Gartley/EW targets align precisely with my short entries. Confluence in the PRZ: Bullish Gartley pattern completion AB=CD pattern completion Wave ((iv)) support at entry Wave ((v))/5 completion at target Thanks for your support and don't forget to click the thumbs up button and follow for future updates and more trade ideas! Here is a longer TF Outlook to consider:
Long
by glennmercer
AUDCAD Short: Gartley, 2 Crabs, Wolfe Wave, Pivot, S/RAUDCAD has completed a series of bearish patterns at an important .382 retracement level. Two bearish crabs are confluent with a bearish Gartley pattern and a bearish Wolfe Wave 2-4 parallel. To add to the bearish bias, the unhit pivot for the month of December is precisely confluent with 50% retracement of the green crab CD leg. SL is placed above WW entry with target at the December pivot/.5CD. Confluence in the PRZ: Bearish Gartley pattern completion Bearish crab pattern completion (2X) .382 Fib S/R level Bearish Wolfe wave setup Unhit December, 2015 pivot below price Thanks 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
Long EURUSD: Huge Gartley Complete at Support + Bat + ButterflyEURUSD has completed a large Gartley pattern on the weekly TF at a very important area of support. The support comes from a trendline dating back to the year 2000 which has been tested three times and has yet to be broken in the past 15 years. This is the second time price has tested the Gartley PRZ, proving it to be a key area of support as well. To add to the bullish bias, two confluent harmonic patterns have emerged on shorter time frames. These 4H harmonic patterns provide an excellent opportunity to enter the larger TF Gartley more precisely. Possible Stop Loss and Targets: T1: Unhit pivot for November, 2015 | .618CD (Bat & Butterfly) | R:R=3 T2: Missed pivot for January, 2015 | .382CD (Gartley) | R:R=9 T2: Missed pivot for September, 2014 | .618CD (Gartley) | R:R=15 SL: Below bat point X Confluence in the PRZ: Bullish Gartley pattern completion Bullish bat pattern completion Bullish butterfly pattern completion 6 missed monthly pivots above price Strong trendline support Weekly Chart: Thank you for your continued support!
Long
by glennmercer
9
AUDCAD Short: Bearish Wolfe Wave Complete at ResistanceAUDCAD has completed a bearish Wolfe Wave setup at a crucial point of resistance. In the Wolfe wave sell zone, two 200% projections are closely aligned. In addition to this, a strong long term trendline sits at current price to provide potential resistance. To add to the bearish bias, MACD is bearish divergent and multiple missed daily pivots sit below price. Target is placed at the 1-4 Wolfe Wave target line. Trendline Resistance Thanks 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
$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 CADJPY: Gartley + Wolfe + TL + PivotCADJPY has completed a bearish Gartley pattern and has thus far respected its resistance in the potential reversal zone. The Gartley PRZ falls in the sell zone of a bearish Wolfe wave which produces a confluent target with the harmonic pattern. To add to bearish bias, an unhit monthly pivot sits below price. SL is set above Gartley 'X' point with targets at .382CD, .618CD, and the unhit pivot for the month of November. Confluence in the PRZ: Bearish Gartley pattern completion AB=CD (Gartley) 1.5BC projection (Gartley) Bearish Wolfe wave setup complete Trendline resistance confluent with Gartley PRZ Unhit monthly pivot below price 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
1
USDJPY Short: 2 Bats, Continuation of Larger TF Bearish GartleyAfter a bullish Wolfe Wave setup completed for +50 pips, profit-taking may bring the pair back down again. Two confluent harmonic patterns present an excellent R/R for re-entry to catch the continuation of bearish movement related to the daily Gartley pattern (see related ideas). Price has been contained below the Wolfe Wave targetline and any close above recent highs will invalidate the entry. Target is placed at T1 (.382CD) with SL above recent highs. Confluence in the PRZ: Bearish bat pattern completion Bearish alternate bat pattern completion Wolfe Wave target line .618 key fib level Bearish Gartley bias on the daily chart Missed monthly pivots below price Bearish Gartley on D1: Wolfe + Elliott, Possible Stall in Bullish PA: 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
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
Short USDJPY: Bearish Gartley at TL Resistance X2USDJPY has completed a bearish Gartley pattern at the intersection of two S/R trendlines. The structure of the Gartley is such that it's AB=CD completion forms a tight PRZ with the .786XA level. The PRZ coincides with the .786CD target for the bullish butterfly completed in August, 2015. To add to the bearish bias, an unhit November, 2015 sits below price and coincides with the .618CD Gartley target. SL is placed above Gartley point X and target set at the monthly pivot for November. Confluence in the PRZ: Bearish Gartley pattern completion AB=CD pattern completion S/R trendline (2X) .786CD butterfly target Unhit November, 2015 pivot below price Thanks for viewing and don't forget to click the thumbs up button for future updates and more trade ideas!
Short
by glennmercer
5
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 EURUSD: 1H Bat Complete in 4H Gartley PRZEURUSD has completed a bullish bat pattern inside of the PRZ of a larger TF bullish Garltey. Moving into the bat PRZ, RSI and MACD have printed bullish divergence. To add to the bullish bias, an unhit pivot cluster sits above price and coincides with .382 retracement of the Gartley CD leg. Targets are placed at .382 and .618 retracements of CD. SL is placed below Gartley point X and outside of the PRZ of a potential bullish crab pattern. Confluence in the PRZ: Bullish Gartley pattern completion 1.272BC (Gartley) AB=CD pattern completion (Gartley) Bullish bat pattern completion 2BC (bat) 1.618AB=CD (bat) Unhit weekly pivot above price Unhit monthly pivot above price Bullish RSI divergence Bullish MACD divergence
Long
by glennmercer
2
CADJPY Short: Gartley + Pitchfork + Wolfe Wave to PivotsCADJPY is nearing the completion of a bearish Gartley pattern. The Gartley PRZ is confluent with pitchfork support. A completed bearish Wolfe Wave adds to the bearish bias. RSI and MACD are showing bearish divergence moving into the PRZ. SL is placed above point X of the Gartley pattern and a cluster of pivots lies below price, providing a nice target. Confluence in the PRZ: Bearish Gartley pattern completion 1.272BC projection AB=CD pattern completion Pitchfork resistance Bearish RSI divergence Bearish MACD divergence Unhit weekly and monthly pivot clustered below price Bearish Wolfe Wave complete Pitchfork Resistance (D1 TF): 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
Short AUDCAD: Gartley, Alt. Bat, Wolfe Wave, Trendline & PivotAUDCAD is nearing the completion of two bearish advanced patterns. The pattern PRZ is confluent with a potential Wolfe Wave setup. A daily trendline may add to the resistance in the PRZ. An unhit weekly pivot sits below price to add to the bearish bias. SL is set above secondary trendline resistance. Targets are set at .382 and .618 retracements of XA. A third target is placed at the BC terminus which is confluent with the Wolfe Wave target line. Target Risk/Reward Ratios: T1: 0.75 T2: 1.23 T3: 2.02 Confluence in the PRZ: Bearish Gartley pattern completion Bearish AB=CD (Gartley) 1.272BC projection (Gartley) Bearish alternate bat pattern completion 2.24BC projection (alt. bat) 1.786AB=CD (alt bat) Bearish Wolfe Wave setup Unhit weekly pivot below price 2 daily S/R trendlines (see below) 3 Day Chart: Trendlines Thanks for your support and please don't forget to click the thumbs up button and follow for future updates and more trade ideas
Short
by glennmercer
2
EURJPY Long: Bullish Bat PRZ Confluent with S/REURJPY has entered the PRZ of a bullish bat that is confluent with various other S/R elements. On the D1 time frame, a pitchfork aligns with with the .50 retracement of a larger XA leg. This area is confluent with the 1.786 projection of BC and and the completion of an alternate AB=CD pattern. There's a secondary structure low below this level to add support. Target is placed at the .382 retracement of CD which coincides precisely with the new pivot for this week. I am taking a conservative profit target at the .382 retracement of CD because a daily support trendline will likely act as resistance on the way back up. SL is placed below S/R. Confluence in the PRZ: Bullish bat pattern completion Pitchfork support .5XA (D1) Previous structure low 1.786BC projection 1.272AB=CD Unhit weekly pivot above price D1 Trendline, .5XA and Pitchfork Support: Thank you for your support and motivation!
Long
by glennmercer
6
Long GBPAUD: 5 ReasonsGBPAUD has formed a tight PRZ where a series of bullish harmonic patterns have completed. There is also an unhit weekly pivot above price which may help drive price upward. SL is placed below .886XA with targets at .382CD and the unhit weekly pivot which coincides nicely with .618CD. 5 Reasons to Buy: 1. Bullish Gartley pattern completion 2. Bullish crab pattern completion 3. Bullish butterfly pattern completion 4. Bullish RSI Divergence 5. Unhit weekly pivot above price Thank you for viewing and please don't forget to take a second to click the thumbs up button for future updates and more trade ideas!
Long
by glennmercer
Long EURAUD: Butterfly Complete at Trendline SupportEURAUD has entered the PRZ of a bullish butterfly pattern. A strong trendline will provide support at the entry. A missed pivot cluster lies above price around .618CD which provides a target with a large R/R. SL is placed below S/R. Confluence in the PRZ: Bullish butterfly pattern completion Long term trendline support 1.27AB=CD 1.618BC projection Missed pivots cluster above price Trendline Support: Thanks for viewing and please don't forget to click the thumbs up button for future updates and more trade ideas!
Long
by glennmercer
GBPAUD Short: 3 Patterns Confluent w/ WW and TL ResistanceGBPAUD has been rejected at the PRZ of 3 bearish patterns: Alt. Bat, and 2 Bearish Crabs. A bullish engulfing candle suggests continued downward PA in the short term, and trendline resistance in addition to missed pivots below price may help to drag price down long term. On the D1 chart, a potential head and shoulders pattern is emerging. Targets are placed at the unhit weekly pivot and the head and shoulders neckline. Confluence in the PRZ: Bearish alternate bat pattern completion Bearish crab pattern completion (2X) Unhit weekly pivot below price Trendline resistance Bearish engulfing 1Hr candle Potential H&S pattern Bearish Wolfe Wave D1 H&S Pattern: Thanks for viewing!
Short
by glennmercer
GBPJPY SHORT: 3 Harmonic Patterns + Wolfe Wave + PivotsGBPAUD may potentially complete 3 bearish advanced patterns which would all be confluent with a bearish Wolfe Wave setup. To add to the bearish bias, an unhit weekly pivot sits below price. This provides for a nice target since it coincides with .618CD. SL is placed above X. KILL ZONE CONFLUENCE: Bearish cypher pattern completion 2.24AB=CD (cypher) 1.618BC projection (cypher) Bearish bat pattern completion 1.272AB=CD (bat) 1.618BC projection (bat) Bearish crab pattern completion 1.618AB=CD (crab) 2.382BC projection (crab) Bearish Wolfe Wave setup Unhit weekly pivot below price Thanks for viewing and please don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Short
by glennmercer
2