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Weekly Pivots

Short GBPCAD: Trigger at BAMM Line Toward Pivot ClusterGBPCAD is presenting an opportunity to trade a combination of bat action magnet move lines toward a cluster of missed pivots. Trade will be triggered after a candle closes below the BAMM Line (Body) with SL near structure highs. If price should continue to make new structure lows I will move the SL and update the chart accordingly. T1 is at Bat 1 completion and T2 is at Bat 2 completion. A third target will be placed at the pivot cluster if the bullish bat patterns reach their respective targets and another short opportunity presents itself. If this occurs I will publish a new short idea targeting the pivots.
Short
by glennmercer
3
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
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
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
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
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
Short EURJPY: 5 ReasonsEURJPY is showing bearish price action in the PRZ of multiple confluent harmonic patterns. After completing a bearish bat, price was rejected at the PRZ and is retesting the reversal area. In this area we have two bearish butterflies that have completed at trendline resistance and a bearish Wolfe wave setup as well. To add to the bearish bias, two unhit weekly pivots sit below price. Confluence in the PRZ: 1. Bearish bat pattern completion 2. Two bearish butterfly pattern completions 3. Unhit weekly pivots below price 4. Bearish Wolfe wave setup 5. Trendline resistance Thank you 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
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
Sell GE: Wolfe Wave & Bearish Crab - Perfect Confluence!GE has completed a bearish crab pattern in the optimal sell zone for a short Wolfe Wave trade. There is significant bearish divergence in addition to an overbought RSI which add to the bias toward the short side. Two missed weekly pivots sit below price as well, which may help drag the price down. Stop loss can be placed above a significant S/R level while maintaining a substantial R/R. The higher probability target is the .382 retracement of the xa leg at 25.24, but a more aggressive trader may chose to target the 1-4 target line. Confluence in the PRZ: 1. 1.618 extension of XA (bearish crab pattern completion) 2. 1.786ab=cd 3. 1.618ab=cd 4. .886 XA 5. 2bc projection 6. Overbought RSI 7. Bearish divergence Follow me for more updates and trade ideas!
NYSE:GEShort
by glennmercer
Buy OPK: Bullish Bat Complete at Psychological SupportOPK has completed a bullish bat pattern at an excellent support level. Price is showing clear signs of respecting the tight and confluent PRZ and may begin to reverse toward the upside in the next couple of days. The company has strong fundamentals with Phillip Frost's outstanding track record in biopharmaceutical innovation as its backbone. PRZ Confluence: 1. Bullish Bat Completion 2. 3.14BC Projection 3. 1.886AB=CD 4. 10 dollar psychological support level T1 is set at .382XA and the unhit monthly pivot for September, 2015. T2 is set at .618XA, confluent with a missed pivot cluster.
OLong
by glennmercer
AUDCAD T2 Achieved: Now Short at Bearish Deep CrabAUDCAD has achieved T2 of the bullish crab idea that I recently published (see below) and has now completed a bearish deep crab pattern. The PA has respected the 1.618 projection of xa and it is time to look for a short entry. Confluence in the PRZ: 1. Bearish Deep Crab Completion 2. Weekly Pivot 3. September, 2015 Pivot 4. .618CD (Bullish Crab Target) 5. 1.5ab=cd; upper limit 6. 1.41ab=cd; lower limit Target set at confluence between .618cd and the new weekly pivot. Bullish Crab Idea:
Short
by glennmercer
AUDJPY Short: Gartley Complete, Target at Weekly PivotAUDJPY has completed a precise bearish Gartley pattern after a .618 retracement of the xa leg followed by another .618 retracement of ab. Although the pattern is technically complete, Gartley patterns will often test all of the levels in their potential reversal zones which typically consist of the area between .786xa and ab=cd. A conservative entry is at the top of the PRZ, should price reach that level. This allows for a stop above structural S/R while maintaining a substantial risk-to-reward ratio. The new weekly pivot provides a nice target as it is confluent with .618cd.
Short
by glennmercer
Long SHAK on Strong Divergence and TL Break at S/R ZoneAn hourly close above the 7-week-long bearish trendline provides a great opportunity to go long SHAK, which has made a strong bullish move at its daily support zone. With low float, high volume, and an appearance on Friday's Top Gainers for many popular signal services, there is a high probability of more bullish movement in the upcoming weeks. Enter on any short-term pullbacks. Minor resistance area below the unhit monthly pivot for July provides a nice target. SL should be placed below daily support area.
NYSE:SHAKLong
by glennmercer