glennmercer

glennmercer Updated 

Hey Traders! Here are a few levels to look for to short this pair. The first level I'll be looking for is break out of the rising wedge. A close below the bottom of the wedge will likely mean further price action toward the target zone. If no breakout occurs, I'll be looking for rejection at the Gartley PRZ, then the deep crab if the bullish pullback is strong...

glennmercer Updated 

Good Morning Traders! AUDNZD has completed a beautiful Gartley pattern on the 4H chart. The PRZ is tight, with confluence between AB=CD, .786XA and 1.13BC extension. The weekly pivot is precisely confluent with the .382CD retracement and provides a great target. It is smart to put stops beyond XA on these patterns. Happy Trading!

glennmercer Updated 

Mornin' traders! There are a couple of key levels to watch here on USDCAD. The most important of which to me is the 1.284 area. Before taking a long position I want to see price close the weekend gap and touch the unhit daily pivot for Friday. Since a higher low was created from a bullish impulse, I will be looking for bullish price action (pinbars, engulfing...

glennmercer Updated 

Hey Traders! NZDUSD has entered the potential reversal zone of two confluent harmonic patterns. This zone is supported by additional long-term trend line support to add to bullish bias. Stops can be placed below Cypher point X with targets at .382, .500, and .618 CD fib retracements. Happy trading!

glennmercer Updated 

EURGBP has completed a bearish Wolfe Wave setup and may be ready to short toward the target line. Triangle is complete on the APRR oscillator as well. As always, it's a good idea to wait for confirmation before placing a trade. Close below the 1-3 extension would be a good indicator of continued bearish pressure in this case, with a tight stop above recent...

glennmercer

There is a clear head and shoulders pattern complete on the monthly chart for cable. Instead of shorting the pair immediately, I'd rather sell it from the 1.6 area to create a higher R/R and minimize risk. If we see a monthly pinbar for August I will be buying the pair up to this level on the 1-4 hour TF. There's an overage of pessimism surrounding the GBP at...

glennmercer

Yesterday I posted this: With a conservative short TP at the .786 fib. The pair has now dropped to the 1.618 level and is showing us several signs of bullish confluence, indicating a rebound is in order. A falling wedge/Wolfe Wave is complete and is pushing the upper retaining resistance line. Pinbar support has also formed on the 1HR chart at a key level:...

glennmercer

EURUSD has reached an excellent level to look for shorting opportunities. A daily resistance trendline has rejected price on 8/11 and sent the pair downward over some important moving averages. These averages are now being retested and are confluent with the new daily pivot. Below price, there is a missed daily pivot that may help drag the pair downward. The...

glennmercer Updated 

USDCAD is showing short term and long-term weakness. Many indications of an upcoming drop, followed closely by what could be a rebound toward the unhit daily pivot before further bearish movement out of the rising wedge. See chart for more details. Happy Trading!

glennmercer Updated 

GBPUSD is setting up for a potential long setup toward a Gartley completion. TL support protects a SL below lows and an unhit daily pivot may help pull price up toward target. R/R of 2.0

glennmercer

AUDUSD has broken a bullish TL on 15m APRR in addition to forming an APRR Wolfe Wave on the 1HR timeframe. This may be an opportunity to short the break of the curved wedge. A support/resistance zone sits above price to protect the SL with target at the predicted 59p drop correlating with the missed daily pivot from 8/10.

glennmercer Updated 

Hey Traders! USDJPY is showing some bull signs. The break of APRR trendlines on the 15m and 1H chart after a strong bullish impulse allows for optimal entry toward the completion of a potential bearish cypher

glennmercer Updated 

GBPUSD is forming a wedge on the 1H chart. The 15m chart is now showing bullish signs as well with the APRR oscillator forming a triangle and pinbar support forming at resistance from the daily range minimum.

glennmercer Updated 

USDCAD has formed a bullflag potential continuation breakout. The APRR has broken a major bearish trendline as well, confirming potential continued bullish price action and providing an opportunity to get long toward wave 5 completion. SL is placed below recent lows with Target at the next S/R area.

glennmercer Updated 

GBPJPY is showing bearish signals after breaking the bullish TL on APRR. Target at Friday close with SL above highs. I will also exit the trade if a bearish trendline is created and broken on the same indicator.

glennmercer Updated 

Long opportunity on NZDUSD with a SL protected by MA's and a target at a potential left shoulder peak.

glennmercer Updated 

CADJPY is nearing the completion of a bearish bat on the 1 HR chart. In addition to this harmonic setup, the average period range relativity oscillator is forming a bearish Wolfe Wave at the same level. SL is placed above highs on APRR with target at the APRR WW target line.

glennmercer

APRR Shows weakness on the 1HR, selling on a break and close below TL2. SL above highs with target at .886 retrace on the APRR oscillator which is confluent with the pair's next strongest support line.