glennmercer

glennmercer

USDJPY has likely made its final drop before jumping back up toward the top barrier of a newly solidified symmetrical triangle. Invalidation only below terminal of wave-((D)). Otherwise, I am long up to the completion of the potential bearish bat. If I find a great R/R opportunity, I will update with a trade idea. Cheers!

glennmercer Updated 

Hey Traders, see related idea for sell from last week. I'm still in this trade. However, I would like to add and post another short entry for those who missed the first. We can still achieve a high R/R if price pulls back to previous fourth degree wave zone as shown on chart. I will update as the tide rolls. Short Bias remains valid

glennmercer Updated 

Hey traders, quick update here. No trade yet. Watch this bullish bat completion level for bullish impulses. I will buy on a pullback. This could complete the combination wave, although it is not a surefire EW count as there are alternatives that could drop deeper. However, there is a high probability of reversal at this level and I will factor my R/R accordingly.

glennmercer Updated 

Is the ending diagonal complete? I have reason to believe so, based on the pop we just saw off of the bottom parallel. A drop below this level would require a recount. Therefor, stop is placed tightly below. Two targets stand on the chart. One is placed at ((a))=((c)) in a potential zig-zag. Another is placed at the completion of a potential bat pattern. ...

glennmercer Updated 

Again in the PRZ we can see a bearish impulse that may be the beginning of the bearish actionary wave-C. By Placing stop above highs, we're maximizing R/R potential and exitting the trade if uncertainty is introduced. My entry will be on the pullback. Updates to come as the tide rolls. Happy trading!

glennmercer Updated 

Mornin' Traders! As predicted, we saw a dip before another push up to complete wave-((2)). If the count is correct, this level will hold. Otherwise, a recount is in order and will have sideways corrective structure. For this reason, I'm willing to put a stop against this level and shoot for the gap in the 0.81's which yields a very high R/R. Updates to come...

glennmercer Updated 

Hey Traders! USDJPY is forming a potential triangle combination on the higher primary degree. We have a complex sideways combination wave on the intermediate degree currently rolling out. We cannot guarantee that wave-((b)) is complete, but a rally past wave-((a)) will provide significant enough evidence to buy toward the completion of wave-((c)). Ideally, I...

glennmercer Updated 

Hey Traders! I'm shorting this one as well. We have a completed bearish alternate bat up against pinbar resistance. Although we have no invalidation level to stop against, I'm willing to use pinbar resistance and assume this one is an expanded flat. If price rallies again, we will recount. Otherwise, this is a R/R I'm willing to negotiate. Stay tuned!

glennmercer

Hey Traders! We got the pullback we were looking for in this idea: It was an ideal A=C Zig-zag correction and we may see a pop toward the completion of wave-((c)). I'm limiting risk by placing SL just beyond invalidation level. That way, if price invalidates my idea and adds uncertainty, I will re-evaluate with no capital in the market on this pair. More...

glennmercer

Hey Traders! We have a potential completion of the sideways correction on EURAUD. That means we'll be looking for big gains on the long side unless the invalidation level is violated. If price drops below the invalidation level, I'll be expecting further bearish movement to complete ((E)). Otherwise, this pair could have legs throughout the next couple of...

glennmercer

Hey Traders! Looking forward to this one too. Great trade opportunity coming if the pair shows a nice impulse and pullback off of the base of the symmetrical triangle and wave-B terminal. From here, I will be targeting the A=C level (pending accompanying price action). When I see the right opportunity, I'll deliver updates. Keep your eyes peeled in the Buy Zone!

glennmercer

Hey Traders! We're looking for shorts here. A pullback against invalidation yields the highest R/R and a beautiful potential drop to the base of the crab. Price could fall lower, but the target at wave-(v) terminal covers potential triangle combination on the primary. I'll update as the tide rolls.. Happy trading!

glennmercer

Hey Traders! Great trading last week on the post-triangle rallies. This week we have an exciting new opportunity that will provide more of a long-term target. A bearish bat is complete nearing the end of the correction. Likely, and optimally, we will see one more rally to get short against invalidation at the completion of wave-c-of-(Z)-of-(2)

glennmercer

Hey Traders, it's weekend review time! GBPUSD, originally viewed as a possible flat on an intermediate degree, has broken recent lows. What does this mean? We should expect some lower lows into next week. The double zig-zag has created a new motive wave and is expected to now become a triple zig-zag. This is a great short opportunity if we see a nice...

glennmercer

As predicted by our wave count, we saw a drop after the completion of ((X)). The reason why I didn't trade this drop on Oil is because the end of ((X)) is difficult to predict, but I WILL sell the pull back down toward Gartley levels. Here is the original idea. Let's see how it plays out!

glennmercer Updated 

For those who missed this entry, we had a great Cypher/EW Count trade to first target here: This completes wave A of the correction. Then, wave-B has on folded into a rising wedge, typically marking the final wave in its degree series. Tight stop placed above base of wave-i-of-C. PS: This one is a little late, it ran away on me while publishing...

glennmercer Updated 

Hey Traders! After taking a low-risk, high reward attempt on a potentially completed correction, CADJPY has dipped further into its corrective structure. Now, we have a better probability trade while still maintaining a high R/R. Also, a Bat is complete and may add to bearish biais. SL is placed above invalidation level. If TL resistance fails and price rallies...

glennmercer Updated 

Hey traders! After a bearish impulse witnessed 9/20, we saw a correction to the .786 fib. This correction has ended on an ending diagonal, a quintessential reversal pattern. The target is 75.8. Any price movement above recent high will force me out and I will re-evaluate. Otherwise, ride it down. Happy Trading!