glennmercer

glennmercer Updated 

Hey traders! Cad has been strong and this pair has been on its way down in a bearish channel. I will be short if the support is broken toward potential completion of the C wave. Happy trading

glennmercer Updated 

In FX it is important to leverage strong currencies against weak currencies. GBP is our strongest and AUD is the weakest on news over the past 24 hours. I'd like to get long through wave-((5))-of-v-of-(v) to ride the bullish trend. Next related predicted volatility due to news is in about 20 hours.

glennmercer Updated 

After this bearish impulse, it is likely that if the entry level is taken out we may see further downside. The EW count suggests the same. Also, with the inauguration occurring today, there is a possibility for a "risk off" economic environment to take the reigns which would mean a drop in riskier currencies like the kiwi and a rise in the safer yen. Cheers

glennmercer Updated 

Hey traders, breakout to the downside on this pair. Trade is immediately active. Look for a few longer term targets with the most profitable being 82.5. Moving to B/E at 1:1 as is typical. Cheers

glennmercer Updated 

The Nikkei is in a clear uptrend, as is USDJPY, and based on the extended first wave (if correct) we should see another rally before a drop of questionable magnitude. The Yen has been weak against all pairs, especially the USD, and this week may be a good buying opportunity. This is all pending a rally above the dotted trendline. I like a buy on USDJPY after a...

glennmercer

USOIL is tough to predict in these sideways corrective waves, however there are some knowns based on wave structure. The most potential outcome based on recent structure is further downside. A bearish impulse off of recent highs will solidify the speculation and garner a potential short. Keep an eye out for a drop. Happy trading

glennmercer

Gold is in an uptrend on the hourly chart and a downtrend on the daily chart. On the weekly, we have a classic cypher pattern emerging if price should drop further. During this short-term uptrend (it will likely be short-lived as the wave is best counted as a corrective structure) we can see a channel potentially complete. I won't make any immediate trades, but...

glennmercer

Hey traders! I definitely want to be LONG this pair as the Yen has been weak against the USD and the trend is bullish. However, it looks as though the correction will continue toward the .382 retracement of Wave-(iii) before we see continuation. I will be looking for bullish impulses to get back into the bull rally. Updates to come - Cheers

glennmercer

Hey traders, here's one for next week. Looks as though we have a breakout commencing on KEY. I want to be long above 18.80 with a stop below 18.36. Cheers!

glennmercer Updated 

Hey traders, great bull flag setup here. It's moving on strong volume today so I'm expecting a breakout within the day or tomorrow morning. I will not enter unless resistance is pierced, but this looks like a high probability setup. I'll be letting it run after 1:1. Cheers

glennmercer

Hey traders, we have a few great breakouts this morning. Among them, $RF is looking like a strong buy above the 13.66 level with an initial stop around 13.87. Cheers

glennmercer Updated 

USDCAD has broken out of a short parallel channel in addition to many resistance and trendline piercings. I am a buyer over short term resistance during these next three hours of high volatility. Updates to come, cheers all

glennmercer Updated 

Hey traders, here is another bull flag breakout opportunity. I want to buy after resistance is broken. Happy trading

glennmercer Updated 

Hey traders! EURAUD is descending in a downward trend with a bearish impulse that may continue throughout Wednesday's London and NY sessions. If the support is broken, I will be shorting the pair.

glennmercer Updated 

Hey traders! We have a potential breakout here toward the downside on this pair. I like the bearish impulse in wave-A of the bearish correction. It's a good indication that we have an upcoming five-wave impulse wave-C. In order to be sure wave-B is complete, I want to get in after the support is broken with a SL above the strong S/R zone. Happy trading

glennmercer

Hey traders, looking for bullish confirmation of a breakout here. The technical setup is a quintessential bull flag. Updates to come upon breakout or cancellation. Happy trading

glennmercer Updated 

Hey traders! The wave count is panning out as planned and the long is still active from last week. I like a double-up on this position. The missed pivots are in sight and resistance is minimal up to target. SMA's provide added support between SL. Trade is active. Cheers

glennmercer Updated 

This is a volatile equity and position size must be reduced to mind your risk. However, this is a nice bull flag setup. I will be buying this one with a hard stop if it breaks 1.64.