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PRZ

ZIOP Long: Alternate Bat and Trendline BreakZIOP has completed an alternate bat pattern. The pattern completion is confluent with a .886 fib level on a higher TF structure low to structure high. A trendline was broken and retested on 12/22, indication of possible upcoming bullish movement at the PRZ. A second trendline was broken today, which may be an opportunity to catch the breakout toward .382CD. Entry is placed at the alternate bat PRZ with target at .382CD and SL below structure lows. Look for heavier volume within the next couple of candles.
ZLong
by glennmercer
Long ACRX: Bullish Bat at Trendline SupportACRX is nearing the completion of a bullish bat pattern on the daily chart. The PRZ falls in a significant support zone and may be confluent with support from a 3-month trendline. 3 Missed weekly pivots sit above price to add to the bullish bias. Entry is placed at the bottom of the PRZ with target at .618CD and SL below the 1.13XA fib level. Confluence in the PRZ: Bullish bat pattern completion 4BC projection AB=CD 3 month trendline support Missed weekly pivots above price S/R Zone
ALong
by glennmercer
Long NZDCAD: Bat + Crab + S/R + MA SupportNZDCAD is nearing the completion of two confluent harmonic patterns within a tight PRZ. A heavy S/R zone sits below the PRZ for added support. 200 EMA and SMA lines may add support as well. To add to bullish bias, RSI is oversold at current levels. Entry is placed at the bottom of the PRZ with target at .382CD and SL below the S/R zone. R/R = 1.44 Confluence in the PRZ: Bullish bat pattern completion Bullish crab pattern completion 3BC projection 2AB=CD 200 SMA Support 200 EMA Support 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
Short NZDJPY: Possible Bat Complete at Trendline ResistanceNZDJPY may potentially complete a bearish bat at significant trendline resistance and a S/R zone. If price does reach this level before invalidating the bat patterns, there is a chance price could reach down past the X leg and complete a series of bullish patterns. Entry is placed at the bottom of the PRZ with targets at .618CD and bat/crab completion. SL is placed above 1.13XA. Confluence in the PRZ: Bearish bat Trendline resistance S/R Zone
Short
by 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
Short USDJPY: Bearish Bat + H&S + S/R + Missed PivotUSDJPY is completing a bearish bat pattern near a strong support and resistance zone. We also have the neckline from a head and shoulders pattern striking through the S/R area for added resistance above the PRZ. SL is placed above 1.13XA with targets at .618CD and the unhit monthly pivot for November, 2015. Confluence in the PRZ: Bearish bat pattern completion Head and shoulders neckline S/R zone 2.5BC projection 1.786AB=CD Unhit November, 2015 pivot 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 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
Short AUDCAD: Bat + Crab + Fib Cluster + PivotAUDCAD is nearing the PRZ of two bearish harmonic patterns. The PRZ is confluent with resistance from a Fibonacci cluster (.618 and .786) formed by two structure highs and lows. To add to the bearish bias, there is a missed monthly pivot below price which coincides with .618CD. Entry is placed at the center of the PRZ with SL at 1.13XA (bat) and targets at the .382 retracement of the CD leg. Confluence in the PRZ: Bearish crab pattern completion Bearish bat pattern completion 3.382AB=CD 3BC Projection Fibonacci cluster Missed 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
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