glennmercer

glennmercer Updated 

Yesterday I published a EURUSD short on a bearish bat pattern. The bat has hit TP1 and is retesting the PRZ. If you missed the trade, this is a great opportunity to enter. A rare opportunity has presented itself where 3 bat patterns have aligned within a very tight reversal zone. The PRZ aligns with trendine touching the X points which may add resistance in...

glennmercer

NZDJPY may potentially complete a bearish bat at significant trendline resistance and a S/R zone. If price does reach this level before invalidating the bat patterns, there is a chance price could reach down past the X leg and complete a series of bullish patterns. Entry is placed at the bottom of the PRZ with targets at .618CD and bat/crab completion. SL is...

glennmercer Updated 

NZDUSD has retested a BAMM line and in doing so has completed a bearish Wolfe Wave. Going short here would target the completion of the Bullish Bat which coincides with both a missed daily pivot and the EPA/ETA combination from the bearish Wolfe Wave. Market entry used with SL above structure highs and target at the completion of the bullish bat pattern.

glennmercer

EURCAD is nearing the PRZ of a bearish Bat in a heavy S/R Zone. The SMA200 and EMA200 lines have been tested showing weakness. If price should complete the bearish bat this would present an opportunity to go short back toward the moving averages. An important .618 fib level from structure high to structure low aligns precisely with the .886 bat completion level...

glennmercer

AUDUSD is nearing the PRZ of a bearish shark in a S/R zone that is confluent with the a bearish Wolfe Wave setup. 200 EMA and SMA may add resistance in this area. To add to bearish bias, this pair has been in a strong downtrend and this would give us an opportunity to ride it down to the .886 fib if price should reach the PRZ. Entry is placed at the shark...

glennmercer Updated 

GBPCAD is presenting an opportunity to trade a combination of bat action magnet move lines toward a cluster of missed pivots. Trade will be triggered after a candle closes below the BAMM Line (Body) with SL near structure highs. If price should continue to make new structure lows I will move the SL and update the chart accordingly. T1 is at Bat 1 completion and...

glennmercer Updated 

USDJPY is completing a bearish bat pattern near a strong support and resistance zone. We also have the neckline from a head and shoulders pattern striking through the S/R area for added resistance above the PRZ. SL is placed above 1.13XA with targets at .618CD and the unhit monthly pivot for November, 2015. Confluence in the PRZ: Bearish bat pattern...

glennmercer Updated 

GBPJPY has completed a bullish bat at strong trendline support. This allows for a 5:1 R/R because a break and close below the trendline nullifies the trade. In addition to the pattern completion, there was a strong breakout from a 1D trendline that may potentially be retested. A missed pivot cluster may add to the bullish bias. We also have bullish RSI...

glennmercer Updated 

AUDCAD is nearing the PRZ of two bearish harmonic patterns. The PRZ is confluent with resistance from a Fibonacci cluster (.618 and .786) formed by two structure highs and lows. To add to the bearish bias, there is a missed monthly pivot below price which coincides with .618CD. Entry is placed at the center of the PRZ with SL at 1.13XA (bat) and targets at the...

glennmercer Updated 

EURNZD had formed a double bottom and retraced 61.8% to give us an entry for a bullish 2618 trade. At the 127% extension where profit is commonly taken, 3 bearish harmonic patterns may present themselves within a tight PRZ. On the higher TF, a larger bullish shark is emerging. Trade 1: Bullish 2618: Entry at the 61.8% retracement level SL is placed below...

glennmercer Updated 

USDCAD may potentially complete a bearish crab pattern in the reversal zone of a bearish Wolfe wave setup. The Wolfe wave target line is confluent with the 50% retracement of the 2-5 impulse in addition to the XA terminus. To add to bearish bias, crude is nearing the completion of a series of bullish patterns (see related ideas). SL is placed at the 1.13...

glennmercer Updated 

EURNZD has broken the neckline of a bearish head and shoulders breakout. A lower TF bearish bat has provided a nice entry short on the retracement to the neckline. Trendline resistance may also provide bearish bias. Entry is placed at the completion of the bearish bat with target placed at the completion of the bullish shark. 15m Bearish Bat (Entry):

glennmercer Updated 

EURUSD may potentially complete a pair of bullish harmonic patterns within a very tight PRZ. The PRZ is confluent with a horizontal support/resistance zone and depending on timing may find added support from the .5 fib fan taken from structure low to structure high. SL is placed beyond 1.272XA with targets at .382CD and .618CD retracements of the bullish...

glennmercer Updated 

EURUSD will have completed a 5-0 pattern after a 50% retracement of BC. The highest probability target will be around the end of the BC leg. Second and third targets may be placed at daily and weekly pivots, which coincide nicely with 1.272 and 1.618 extensions.

glennmercer Updated 

USOIL could potentially complete a bullish Shark in the PRZ of a bullish Wolfe wave setup. The targets for both patterns align precisely with the unhit pivot for December, 2015. SL is placed at 113% retracement of the shark CD leg. Confluence in the PRZ: Bullish shark pattern completion 2BC projection 1.5AB=CD completion Bullish Wolfe wave setup Unhit...

glennmercer Updated 

USDCAD has completed a bullish Gartley pattern in in a significant area of support. The Gartley PRZ is confluent with previous wave four support, making it possible to catch fifth wave movement to the completion of the impulse. On the longer term, I am bearish on this pair as multiple D1 bearish patterns are emerging. Near-term, this TCT has a R/R of 4.4 and...

glennmercer

AUDCAD has completed several bearish patterns at a significant area of resistance. In addition to containment inside of an upward channel there is a strong trendline beginning in April, 2013 that may help contain price inside of the PRZ. There is also an unhit monthly pivot below price to add to the bearish bias. RSI is bearish divergent on the 4 hour chart...

glennmercer Updated 

AUDCAD has completed a series of bearish patterns at an important .382 retracement level. Two bearish crabs are confluent with a bearish Gartley pattern and a bearish Wolfe Wave 2-4 parallel. To add to the bearish bias, the unhit pivot for the month of December is precisely confluent with 50% retracement of the green crab CD leg. SL is placed above WW entry...