glennmercer

glennmercer

Not a very clear picture being drawn on this pair as we have a few factors playing for both bulls and bears. I'll be waiting on the sidelines for either a triangle breakout or further drop past the dotted S/R level.

glennmercer

Hey traders, we have an eventful week coming up. I expect some sideways corrective structure prior to Wednesday. Keep an eye on the triangle and the Gartley PRZ to provide potential resistance.

glennmercer

Hey traders, this is an update on my previous idea: I'm getting short this pair in anticipation of the wave-C drop. Trade is active.

glennmercer

Hey traders, here's an update on the wave count for USDCAD. I like the quick powerful rally here followed by corrective structure. Typically, we will see a sharp reversal from this type of move to drop past the original root of the wave. Keep an eye out from a drop from here. After a short bearish impulse, I will open up a short and send an update. Continued...

glennmercer Updated 

This pair has completed a potential falling wedge. Until the first bullish is confirmed with a subsequent more powerful bullish impulse, however, it will be considered an aggressive long. I like a small aggressive position near the completion of an A=C zig-zag and a larger position at the conservative confirmation level. Keep in mind, though, that a drop below...

glennmercer

Hey traders, earlier I posted this idea: This one is entering the PRZ for aggressive entry. If this is indeed the reversal point, we may see a huge risk to reward in our favor toward the follow-through on falling wedge completion. Trade is active with a limit at entry.

glennmercer

This pair has been choppy with short term rallies and drops that have been powerful but indecisive. As we pull out to the daily chart, we can see some structure coming together for this pair. We have both a Cypher and a Gartley nearing completion as we complete Wave-C-of-(B). I'm expecting a big bullish move out of this zone, preferably out of the tighter...

glennmercer

This pair, like other JPY pairs, is in the midst of a short rally while we wait for volatility to return to the market. When it does I'll be looking or opportunities to buy the yen. I will only be pulling the trigger on this on a confirmed breakout. If and when wave-(A) completes, our best move will be to sell the (C) wave toward further dropoff. The next...

glennmercer

After a powerful bullish impulse ending in late 2016, we've seen the pair basing sideways in a series of corrective waves. This month (February) has shown a symmetrical triangle forming on the 4H which could signify the end of the correction if the pair breaks out from wave-(E). Outlined on the chart is a potential move. I would like to see the pair rally so...

glennmercer

AUDJPY is basing on the hourly chart after a strong bearish impulse last week. Based on the recent completion of wave-((B)), I have strong reason to believe that this drop will continue through next week. I will be waiting for a breakout in order to ride it downward. Updates to come...

glennmercer Updated 

Hey traders, we're coming up on a speech from Janet Yellen. I'm expecting some volatility - and if bullish past the entry point I want to be long for the reasons below. I entered last week on a zig-zag completion which stopped out at breakeven as the retracement sank deeper into a double zig-zag correction. SL is placed below invalidation level. Keep in mind,...

glennmercer Updated 

Hey traders, I have been following this impulse in wave-1 waiting for a retracement. After the daily close, a bearish wave-c presented itself to complete wave-2. I want to buy here. Movement past invalidation will have me on the sidelines again. Updates to come as the tide rolls, cheers.

glennmercer Updated 

This pair has completed a descending triangle and has exhibited a strong breakout to the up-side. I want to be bullish in the long term after this correction. However, this correction is very possibly going to be sharp to the downside to satisfy the Elliott Wave rule of alternation since we saw a sideways correction in wave-2. Also, the previous red candle was...

glennmercer Updated 

Hey traders, a potential breakout toward wave-C of this potential zig-zag is approaching. Looking to ride the C wave up toward potential (a)=(c) target. Of course, if invalidation is broken I will be out to re-evaluate. Target is tentative based on price action. Cheers

glennmercer Updated 

Hey traders, looks like the Canadian dollar is responding positively to the trade balance numbers. They were weak but market likely expected weaker. Shorting the pound against CAD here, looking for a drop to the S/R zone. Cheers

glennmercer Updated 

Hey traders! No surprise here on the RBA release, but a good reason to buy a breakout now while we're channeling upward. Also, we may see some sympathetic long bias after the NZD inflation was released to be pushing 2% q/q. Long is active. Cheers

glennmercer Updated 

UK preliminary GDP released tomorrow. If it disappoints, I want to be short this pair. If it beats forecast, I will be looking for GBP pairings against weaker currencies like the yen. Cheers

glennmercer Updated 

Hey traders, GDP came in at 1.9% behind expected 2.1%. The kiwi has been strong and this pair is in an upward channel. I am long from here toward the 1.272 extension. Cheers