glennmercer

glennmercer Updated 

With the market opening lower and the gap being filled with pin resistance, I want to short this toward potential completion of the E leg. If prie rallies outside of the trendline, I'll be waiting for a long position after the completion of the bullish Gartley.

glennmercer Updated 

Hey traders! Looks as though we have a completion of the symmetrical triangle here on oil. The price action after the breakout looks as though we could see a leading diagonal and a pullback to wave 2 of the diagonal will make for a great entry (updates to come). A bearish butterfly pattern is nearing completion in the PRZ of a potential wave-((I))-of-3 as well...

glennmercer Updated 

Entry triggered at the long-term watch level on this pair. Targets are deep, and there are four of them. First target to watch is the weekend gap fill. Of course with these tight stops you have a high probability of stop-put, if you take trades like these manage risk accordingly. I placed SL tightly above highs because any rally above will invalidate the setup...

glennmercer Updated 

Hey traders! We have some big targets below. I want to ride the third wave, but only after the wave-(2) correction completes. We have some potential advanced patterns lining up that could make for good short entries. We may see a drop before a rally to pattern levels, so I won't go long here as this X wave has potential to drop back down to the base of wave-(X).

glennmercer

Hey traders! The USD index wave count is indicating upcoming bearish price action. Price is clearly in a triangle pattern and looks to be preceding a bearish continuation toward the completion of minor Wave-C. Might find price bouncing at the completion of a potential gartley patter, a level at which I will take profit. Happy trading, and more updates to come

glennmercer

Hey Traders! Keep an eye out for the completion of this triangle and potential continuation of bearish movement on the S&P. May start looking for short opportunities if we see a bearish impulse after wave-E of the triangle completes. Updates to come as the tide rolls. Happy trading!

glennmercer Updated 

Hey traders! Check this out. We have a nice corrective structure rolling out in the form of a symmetrical triangle. Wave-((e)) is involved with prolonged sideways movement and may present a great opportunity to trade a bearish bat down toward the bottom barrier of the triangle. Exact entry will be assessed as price enters the PRZ of the bat. I will likely...

glennmercer Updated 

Hey traders! We have another opportunity to short AUDUSD at the 50% retracement of the bearish leg we just traded. There is some resistance being shown in the entry area, and SL has been placed above potential pin resistance. Three targets can be seen on the chart, at 1, 1.272, and 1.618 fib levels respectively. If price continues to rally, we will re-evaluate...

glennmercer Updated 

Hey Traders! We have been in a sideways correction on EURUSD for over a week now. The wave count suggests that were looking for a bullish rally into impulsive wave-((C)). This will be a five count wave and should be swift and powerful. If this is the case, then the smaller impulses leading to this wave were a series of ones and twos and could unleash a series...

glennmercer Updated 

Hey traders! As predicted by the wave count, we have a continued drop into the final ipulsive C wave of combination wave-(Z). I did not get the pullback I was looking for for that drop, so I sat it out and waited for another opportunity. Now that we have established potential first wave of the final impulse, this is our invalidation level and can be used as a...

glennmercer Updated 

We had a nice win on EURGBP earlier today by realizing a correction was in order by the wave count, then trading the correction using advanced patterns. Bullish price action is expected to continue for this pair based on the wave count. Then, stay tuned for bearish price action around the completion of the bearish bat. Stay tuned!

glennmercer

Hey traders! I love this setup. We have a few different scenarios unveiling for this pair. I would prefer to see a triangle completion so that we can ride the completion of the E wave before the potential downward slide. If not, I'll wait for the completion of wave-((E)) and bearish bat on the Primary degree. Updates to come after market open and waves are delivered.

glennmercer

Hey traders! Looking to buy the terminus of wave-((b)) if the opportunity presents itself around the target of the triangle thrust coming off of last week's indecision. From there, I'll be looking for the completion of a potential gartley pattern to sell with a conservative target. Updates to come as the tide rolls.

glennmercer

Hey traders! I'm looking for trendline resistance to push this pair down toward completion of wave-B here. We may be able to find some advaned pattern confluence lining up when price reaches target short area. If price drops from here without a pullback, I'll be looking for long opportunities around the wave-B completion level. This would be the ultimate...

glennmercer

Hey Traders! There is a lot of uncertainty with this pair, as three different scenarios are possible. We have a potential triangle complete from last week which could mark the completion of wave-((B)) and a fast drop ensues before a rally into completion of wave-(z) on the supercycle degree. If we see a rally, this will likely confirm an ((A)) count on the five...

glennmercer

Hey Traders! Here's an update wave count on EURUSD. I'm expecting a small drop before a rally into the completion of a shark pattern, but there are multiple possibilities and none which I find tradable yet. If price does drop into previous fourth wave support, I will be looking for long opportunities. I'll be looking or short opportunities around the shark...

glennmercer

Hey traders! Aussie made some interesting moves in the form of EW triangles toward target last week. Then, a deep correction produced higher highs and stopped out my re-entry. It's important to not only prepare for these types of moves, but to expect them! The corrective wave count has a bit of ambiguity so I won't be going long toward a potential fifth wave,...

glennmercer Updated 

Hey traders, looking for a pullback rally here to trade the rising wedge toward pattern completion. If high of wave-E is breached, we have a combination to take into account and will need to re-locate (B). Otherwise, I'm anticipating a drop toward the 1.281 area. I want to be long at the crab/shark combination. The triple combination has a great possibility of...