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PRZ

GBPAUD: Very nice structure tradeHello traders! We have a very good shorting opportunity on #GBPAUD. As we see the market is in a bearish trend and it is a good moment to go short at the structure level around @2.0953. There is a confluence of fibs and bearish divergence. I see this level is very strong and it will be hard to break up. If the momentum will slow down, and I think it does, we should see the downfall. Our targets will be the minor structure @2.0735 and the target 2 will be 2.0337 -- Avto_T Financial Analyst www.rcpforex.com
by RCP
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
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 AUDUSD: Wolfe Wave + 3 Patterns at Trendline ResistanceAUDUSD has entered the PRZ of 3 bearish harmonic patterns. The zone falls in the sell area of a bearish Wolfe Wave and is backed by strong resistance. SL is placed above bat completion. Targets are set at .382 and .618 retracements of CD. Confluence in the PRZ: Bearish bat pattern completion (2X) Bearish crab pattern completion Bearish Wolfe wave Strong trendline resistance 2.24BC projection AB=CD pattern completion 2.24BC projection 1.618ab=cd Trendline Resistance: Thanks for viewing 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
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
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
NZDCAD LONG - POTENTIAL REVERSAL ZONEAlthough NZDCAD has not completed a technically valid Gartley pattern since the C point has exceeded its .886 conventional limit, the pair has still found support in the .786XA area. In addition to this key retracement level, there is confluence in this area between 1.272AB=CD and the 1.272 projection of BC. To add to the bullish bias, a missed monthly pivot sits about 1,000 pips above the PRZ. I like to enter at the bottom of the PRZ with a target near the missed monthly pivot for April, 2015.
Long
by glennmercer
4
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
EURCHF Short: Ending Diagonal & Wolfe Wave Reversal to PivotsEURCHF has completed a possible ending diagonal and has made a reversal in a confluent PRZ. Wolfe Wave theory defines the sweet zone, or the area of a probable reversal, as the area between 1-3 and the 2-4 parallel extension from point 3. Similarly, EW theory suggests that wave 5 will often overshoot in an ending diagonal which may be followed by a swift and powerful reversal. This area also coincides with 1.272AB=BC, the 2.5 projection of wave 2, and 707AB. To add to bearish bias, there is also a missed weekly pivot, missed daily pivot, unhit weekly pivot, and an unhit monthly pivot below current levels, all of which could drag down price. Profit is typically taken at the 1-4 target line or at any of the unhit pivots. If price should extend past the September, 2015 pivot I will start looking for long opportunities in the bullish shark PRZ.
Short
by glennmercer
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