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Missedpivot

GBPJPY Short: 5-0 Pattern to Missed PivotsHey Traders! GBPJPY has entered the potential reversal zone for point E on a 5-0 pattern. The short at the 0.500 fib retracement remains valid unless price drops lower than 1.345 without entering the short area. Any entry into the short area from these levels will warrant a short and the pattern will be triggered and active. SL is placed above point B with target at the lowest missed pivot, confluent with the missed weekly pivot from last week. Happy Trading! GM
Short
by glennmercer
2
USDJPY Long: Multichannel ReboundUSDJPY may potentially produce a reverse head and shoulders pattern at the base of two descending channels. Two weekly pivots sit above price and are confluent with important fib levels. If price does not met entry, the trade will be cancelled and I may start to consider short opportunities. If SL is hit, there may be a wolfe wave complete just beyond the base of the demand zone. Bearish price action past 105.5 would indicate short bias. GM
Long
by glennmercer
USDJPY Long: Potential Expanding Triangle, Bat, Missed PivotsHey traders! USDJPY is approaching a potential reversal zone that could spark a large bullish move. A bullish bat is nearing completion near the descending trendline. Missed weekly and unhit weekly pivots sit above price. The .382 fib is also confluent with the missed pivot from last week which may signify a nice supply zone. Movement past the 1.272 mark could mean further bearish movement so that's where I put the SL. Targets at the nearest weekly pivot and the missed pivot from last week. Entry near point X of the bat should price reach those levels. This entry is also confluent with the short-term descending channel shown in gray.
Long
by glennmercer
1
NZDCAD Short: Wolfe Wave + Expanding Triangle at 50% RetraceAfter the RBNZ announcement cancelled the last NZDCAD short, a new opportunity has presented itself. A bearish WW has formed with the touch of the 2-4 parallel confluent with the 50% retracement level. We also have a potential E point of an expanding triangle complete which may mark a larger reversal from these levels. On the daily chart, the pair is contained within a bearish expanding triangle and this could present an opportunity to ride it down toward point E on the larger TF. The unhit pivot for June 2016 presents a nice target at which to take profit. Bearish Confluence: Bearish Wolfe Wave complete Expanding triangle 50% retracement level Descending expanding triangle on daily TF Unhit June, 2016 pivot below price Bearish RSI Divergence RSI Overbought Again, be mindful of news events. It is a good idea to wait until the Poloz speech at 11:15EST for entry as this may present significant CAD volatility. Happy trading to all!
Short
by glennmercer
AUDNZD Long: Breakout to Potential Bat CompletionAUDNZD has broken through the bullish channel center line and countertrend resistance. There is also a missed daily pivot above price which may add to bullish bias. Watch for resistance around the top of symmetrical triangle, BAMM line, and top of the rising channel. Entry is placed at the retest of the trendline with targets at bat point B and bat completion. SL is placed below structure lows for a R/R of 2.5 (T1) and 6.5 (T2). Bullish Confluence: Trendline breakout & retest Missed daily pivot above price Channel center line break
Long
by glennmercer
Long GBPJPY: Bat + Crab Complete at Weekly Trendline SupportGBPJPY has entered the PRZ of two bullish patterns on the daily chart. The PRZ aligns with both horizontal and trendline support which may add to the potential for reversal at this level. Multiple unhit monthly and weekly pivots sit above price and may help pull price toward target. To add to bullish bias, MACD has produced bullish divergence and RSI is oversold. Entry is placed at crab completion with SL below horizontal support and targets at the unhit January, 2015 pivot and the 50% retracement of the bullish bat CD leg. Bullish Confluence: Bullish Bat Bullish Crab Weekly horizontal support Weekly TL support Multiple missed pivots above price Bullish MACD divergence RSI Oversold
Long
by glennmercer
Short EURUSD: Bat + S/R + Divergence + Overbought + Weekly PivotEURUSD is nearing the PRZ of a bearish bat in a significant area of S/R. MACD is also printing divergence in addition to RSI being overbought. A missed weekly pivot sits below price and is confluent with a larger .5 retracement. Entry is placed at the bottom of the PRZ with a SL above 1.13XA and targets at .618CD and the missed weekly pivot. Confluence in the PRZ: Bearish bat pattern completion 2.5AB=CD 2.618BC projection S/R Zone RSI Overbought Bearish MACD Divergence Missed weekly pivot below price
Short
by glennmercer
7
EURUSD Short: 3 Bats Align in Tight PRZ at TL ResistanceYesterday I published a EURUSD short on a bearish bat pattern. The bat has hit TP1 and is retesting the PRZ. If you missed the trade, this is a great opportunity to enter. A rare opportunity has presented itself where 3 bat patterns have aligned within a very tight reversal zone. The PRZ aligns with trendine touching the X points which may add resistance in this area. We also have very strong bearish RSI and MACD divergence with RSI being overbought as well. Target is placed at the bottom of the PRZ with SL at 1.13XA (yellow bat) and TP at the missed weekly pivot and .5 Fib level. Confluence in the PRZ: Bearish bat (240m) Bearish bat (60m) Bearish bat (15m) Bearish MACD divergence Bearish RSI Divergence RSI Overbought Missed weekly pivot below price
Short
by glennmercer
4
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
$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
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
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
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
SHORT GBPJPY: 6 ReasonsGBPJPY has completed a series of bearish patterns. Two bearish Wolfe Waves are entering a their sell zones. A bearish Gartley pattern makes for a good place to enter. The Gartley PRZ is confluent with trendline resistance. SL is placed above X/5/5 with target at the unhit weekly pivot. Confluence in the PRZ: 1. Large bearish WW pattern potentially complete 2. Small bearish WW pattern potentially complete 3. Bearish Gartley pattern complete 4. Trendline resistance 5. .886AB=CD 6. Unhit weekly pivot below price GARTLEY 15M Thanks for viewing and follow for future updates and more trade ideas!
Short
by glennmercer
Short GBPUSD: Bearish Crab + Pivot Cluster + Wolfe + S/R GBPUSD has formed a potential bearish crab which contains a PRZ that coincides precisely with an unhit pivot cluster and a potential Wolfe Wave target. As profits are taken at the pivots, price may have a tendency to reverse quickly and drastically. SL is placed above a significant support and resistance area. Profit is taken at the PRZ of a potential bullish butterfly pattern confluent with a Wolfe Wave buy zone. If trade is triggered and target is hit, I will look for PA reversal signs at the bullish butterfly/Wolfe wave PRZ. Confluence in the PRZ: 1. Bearish crab pattern completion 2. 3.14BC projection 3. 2.5AB=CD completion 4. Unhit monthly pivot for October, 2015 5 Unhit weekly pivot 6. Significant S/R area 7. Potential WW target Thanks for viewing and please don't forget to take a second to click the thumbs up button and follow for future updates and trade ideas!
Short
by glennmercer