glennmercer

glennmercer Updated 

We had a great slide on AUDUSD today. Major pippage! In order to capitalize on all price action for this pair, I want to take profit on the wave-B completion which will mark the completion of a bullish Gartley pattern. We know that there will be continued bullish correction because the A wave is quite clearly a 5-wave impulse move and thus we should expect AT...

glennmercer

USDCAD is in the midst of corrective structure which may be nearing completion. There is a good possibility that the ending diagonal in B will mark the short term low and we will see a move to target. However, there is too much uncertainty just yet to take a trade in my opinion. Keep a close eye on price action over the next 24 hours. Updates to come as the tide rolls!

glennmercer Updated 

Hey traders! EURNZD is in the midst of a short term abc zig-zag correction and is nearing a level of potential reversal. I have a tight stop semi-conservatively beyond the pinbar support and invalidation level adding to the probability of success. If price drops below pinbar, we have to recount and reconsider our long position. More updates to come!

glennmercer Updated 

Hey traders! I've been stalking this one for awhile. The correction began August 16th after a bearish impulse was completed. We saw a quick zigzag and another retracement to current levels. I took the trade with a 5 pip stop and it took off while publishing. There will likely be a pullback to buy, otherwise SL should be calculated manually (I have mine at...

glennmercer Updated 

Hey Traders! Here's one that's been in the works for a few months. Potential massive R/R opportunity with entry at the completion of the ending diagonal. SL is placed quite tightly behind the invalidation level. This is the level at which price if price passes we will need a recount. Updates to come as the tide rolls. Happy trading!

glennmercer Updated 

Hey traders! Short lesson in wave theory and pattern analysis here. Advanced patterns and EW theory are great supplements to one another. I find that the most successful advanced patterns are "pieces" of waves and that each pattern correlates directly to a corresponding wave count. I like the Gartley for trading zig-zags because we can target higher targets...

glennmercer Updated 

Hey Traders, it looks as though the correction is complete for this pair. If there is a new high, it will likely be very short lived and a re-entry will be the best option. I have my stop set tightly above highs with low targets around the .747 range. This drop could be swift and powerful, so strap yourself in and enjoy the ride.

glennmercer Updated 

Hey Traders! We saw an ending diagonal last night and a beautiful breakout to the upside. Now, we have a great opportunity to trade the third wave after an abc correction. The correction ended in an ending diagonal which is an optimal entry. Target is placed at the completion of a bearish bat with much higher targets above. Updates to come as the tide rolls

glennmercer

The final move up toward the invalidation level will end in a 5 wave impulse UNLESS the wave count is incorrect. Here's what to expect in the next day or so. Judging by the bullish 5 wave structure, it looks as though we'll see a final zig-zag up toward target. However, there is still a possibility that this could become a symmetrical triangle. If that is the...

glennmercer Updated 

Traders, previous entry stopped out at 1.5 pips! Here's a second attempt with another high R/R. SL is placed above lows. It has already started to run a bit, if you take a trade like this, be certain of the amount of capital you're risking and be sure to place your stop accordingly. I intend to ride this to T2 with a quick move to B/E after small rally (if SL...

glennmercer

Hey Traders! Here's a smaller TF higher resolution entry for the EA chart which I posted earlier today. This will be an addition to my current position, for the record. I want to buy after the completion of this ending diagonal to complete wave-((c)). That way, the stop which is placed beyond invalidation will be triggered only if the trade is no longer valid....

glennmercer Updated 

Hey Traders! USDJPY has completed a triangle at the end of wave-(B), alternatively wave-2. This move has potential to find T2. Stop is very tightly placed behind wave ii pullback on a lower TF. Will update as the breakout unfolds. Happy trading!

glennmercer

Hey Traders! Waiting for a pullback and completion of wave-((c)) to buy this pair and ride out the continuation. We have already completed an bullish impulse and have ALMOST completed the pullback. There is a chance the pullback is already complete, but the wave count is not concise and therefor I am not buying it due to uncertainty. If we can see a pullback,...

glennmercer Updated 

I prefer a the long scenario here. We have a great R/R up against invalidation and a target at A=C which would provide huge gains. A single tenth of a pip below invalidation will call for a recount, so a SL is placed here and the triangle will be marked to complete later after continued sideways movement. The R/R potential is great, so I will be testing the...

glennmercer Updated 

USDJPY Has potentially completed its correction wave-(B), a double combination wave. If lows are breached, we will have a triple combination wave and I will look for entry against invalidation. Targets are placed at .886 fib and potential bat completion. Huge R/R on this one with a tight stop! Happy Trading

glennmercer Updated 

Hey Traders! Another potential drop lining up for this pair, although it is not certain yet. We will need to wait for a breakout and pullback to enter with a stop behind the base of the final c-wave. Keep an eye out for this one!

glennmercer Updated 

Hey traders! Looks like we will may see a drop to the 44 zone. If price rallies above invalidatino level, we will need to recount and will likely be seeing further sideways movement in a symmetrical triangle. If price reaches target, the next impulse will yield gains in either direction. We will simply wait for signals if TP is hit.

glennmercer

The AUDUSD rally is not over yet. We know this because highs have been breached and a triple combination correction has revealed itself. However, it is nearing its final rally up against the EW invalidation level. I would love to short form here with a high R/R and a big target. Updates to come as the tide rolls!