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Glennmercer

Glennmercer

Short Bias in the EURO - Will We See it Consolidate This Week?Hey traders, I have definite short bias on the Euro on the Weekly timeframe. However, the question remains, "will we see consolidation this week or bearish breakout?" The next couple of days should unfold the next chapter in this story. Stay tuned

Short

AUD: Next Few Days Will Be Critical Hey traders, look for consolidation in the Australian dollar next week. My bias is toward the downside since we're channeling down on the short term. Breakout to the upside cannot be ruled out. We will see in the upcoming couple of days.

Short

Pound Downside Ahead: Look for GBP Shorts Hey traders, here's an opportunity I've been scouting for a few weeks. It seems as though we are about to see some bearishness in the pound next week. I will be looking for short opportunities as we may confirm a triangle breakout and potentially fall further down the bearish channel.

Short

Momentum Change in Aussie: Potential Short Opportunity Hey traders, as you can see we've had a change in momentum toward the downside in Aussie pairs. The AUDCAD is channeling down and creating clear S/R lines off of which to place a short. Break of the dotted support will confirm. Cheers

Short

Updated

Bearish Kiwi vs Bullish Franc: Short to #cypher Hey traders, I like a short on this pair. I see a lot of potential downside for the Kiwi against potential bullishness in the Franc. Also, the wedge retainer and parallel channel resistance is strong and there is MA resistance on the 1H. Cheers

Short

Updated

Channel Slide Short on Wave-((C)): #Pitchfork #EW #elliottwave Hey traders, as stated earlier this week I've been looking for a short on this pair. Aussie has been weak across the board following the RBA announcement and technically speaking this pair has been responding well to channels. I like the bearish pitchfork here to sell against its resistance but only if the support line is broken. This trade aims to capitalize on a wave-((C)) of a potential zig-zag correction. Updates to come. Cheers

Short

Updated

Trading Pitchforks for Fun.. and Profit! #pitchfork Hey traders, as you can see AUDJPY is responding very well to pitchforks and is in a raging downtrend as we look forward to a more risk-off environment. I want to follow it using the pitchfork method which has been very effective as of late. Check out all of the rejection points preceding entry. Looking at targets at the median line and near the bottom median parallel.. Cheers

Short

Updated

$DXY: Making Sense of the Dixie #eliottwave #EW Hey Traders, here's an updated count on our beloved Dixie. I like a short in both the short-term and the long-term. We may see a pop on the bottom triangle barrier into wave-(E) of the triangle. Compare this against the other indicies and you'll find some nice trades on USDJPY and AUDUSD. Cheers

Short

Updated

$SXY: Swiss Franc Outlook #elliottwave Hey traders, here's another index outlook. I like both the Franc and the Euro long if we can break recent highs. This would be an indication of continued bullishness toward completion of a triangle on the 1H.

Long

Updated

Short at Wave-(ii) through ((c)): #elliottwave #ew Hey traders, I like the bearish impulse we're seeing here out of the channel breakout. Bearish channel support is a nice place to short. Good reward/risk if the price action is right. Cheers

Short

Updated

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.

Updated

AUDNZD EW: Potential Zig Zag Short Opp.The pair has broken and re-tested its channel. The bearish impulse nods toward a potential zig zag with a nice risk to reward.

Short

EURNZD Wave Count: Bullish Impulse Continuation Hey traders, I like the bullish impulse on the lower TF going into this Friday morning. If bullishness continues, there is a chance for a 400+ pip move to the upside. If invalidation level is broken we could see a continued sideways movement for a few more days. I like the odds enough to attempt a long here. Cheers

Long

Updated

USDCAD Wave Count: Long @ Potential ((1))-of-iii Hey traders, coming in with an update on USDCAD and a trade on possible wave count with a >2:1 reward/risk ratio. I like the impulsive bullish move toward a potential five wave impulse to complete wave-((b)). After this move, should it complete, I want to look for shorts through a possible ((c))-wave which should be substantial and powerful. Cheers

Long

Updated

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 republican support". If Trump cannot secure the win, we may see further downside on this pair. We may also see potential downside if the vote is cancelled or further postponed. As for the technicals, the pair seems to be basing in a symmetrical triangle in the midst of wave-(e). This could potentially be the final bullish move before another large drop so I'll be keeping my eye out for a short. If the pair breaks wave-(c) resistance we may see the pair rally. I am trading the downside scenario only. Stay tuned and cheers

Short

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

Long

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

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:

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.

Short

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.

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.

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.

Long

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.

Short

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