glennmercer

glennmercer

GBPAUD is forming a potential confluence of 3 pattern completions in a tight PRZ. In addition to a precise alignment between the completion of a bearish bat and a bearish butterfly, an ideal alternate AB=CD reciprocal ratio completes in the area as well (.707/1.41). Targets placed at the .382 and .618 retracement of CD. Confluence in the PRZ: 1. Bearish bat...

glennmercer

CADJPY has completed several patterns in an area confluent with a bullish Wolfe Wave buy zone. There's also a strong trendline to support price in alternate bat PRZ. Confluence in the PRZ: 1. 3 Bullish Crab Patterns 2. Alternate Bullish Bat Pattern 3. Long Wolfe Wave Buy Entry 4. Strong Trendline Support Thanks for viewing and don't forget to hit the...

glennmercer

USDCHF has completed a bearish shark at confluent reversal zone. Unhit weekly and daily pivots add pressure to the downside. The new unhit daily pivot aligns with .382cd and makes for a nice target level. SL above S/R provides a substantial R/R. A more aggressive T2 may be placed at .618CD. Confluence in the PRZ: 1. Bearish Shark Completion 2. 1.618bc 3....

glennmercer

CHK has bounced at a very significant level of support. In May, 2012, the stock rebounded at .886XA and retraced to .786AB. The two reciprocal ratios for these fib levels are 1.13 and 1.272 respectively, which align precisely at the August 2015 low. There's also an ideal bullish Wolfe Wave setup that completed in an the optimal WW buy zone, which again aligns...

glennmercer

AUDUSD has completed 3 separate bearish bat patterns in a bearish Wolfe Wave sell zone. This placement of the SL and TP will still be technically valid if the FOMC spike is ignored by traders and the pair rises to the .73 area again. If traders respect the spike then a drop from current levels is what I would expect. If the trading strategy calls for two...

glennmercer

EURJPY has achieved Wolfe Wave T2 (attached below) and is completing a series of bearish patterns in a confluent reversal zone. On the longer TF, a 1.13 projection of 0X lies at the top of the PRZ. There are also bearish bat and butterfly patterns completing in the area of a Wolfe Wave SELL zone. Missed pivots lie below price which may also drag down price. ...

glennmercer

USDJPY is forming a possible Bearish Cypher pattern, potentially ending in the territory of an optimal Wolfe Wave SELL zone. If price reaches this level I would expect a quick reversal as this area is highly confluent with multiple key levels of interest. Stop loss can be placed above S/R with a target at .382CD. Confluence in the PRZ: 1. Bearish Cypher...

glennmercer

GE has completed a bearish crab pattern in the optimal sell zone for a short Wolfe Wave trade. There is significant bearish divergence in addition to an overbought RSI which add to the bias toward the short side. Two missed weekly pivots sit below price as well, which may help drag the price down. Stop loss can be placed above a significant S/R level while...

glennmercer

OPK has completed a bullish bat pattern at an excellent support level. Price is showing clear signs of respecting the tight and confluent PRZ and may begin to reverse toward the upside in the next couple of days. The company has strong fundamentals with Phillip Frost's outstanding track record in biopharmaceutical innovation as its backbone. PRZ Confluence:...

glennmercer

EURJPY has completed a 5 point Wolfe Wave setup after price overshot the 1-3 line and reversed in the 'sweet zone'. Conventional profit target is the 1-4 target line, but a conservative target may be taken at the alternate target line. As published previously, there is a bullish crab T3 at the top of previous structure highs so the trade may be carried out...

glennmercer

AUDCAD has achieved T2 of the bullish crab idea that I recently published (see below) and has now completed a bearish deep crab pattern. The PA has respected the 1.618 projection of xa and it is time to look for a short entry. Confluence in the PRZ: 1. Bearish Deep Crab Completion 2. Weekly Pivot 3. September, 2015 Pivot 4. .618CD (Bullish Crab Target) 5....

glennmercer

AUDJPY has completed a precise bearish Gartley pattern after a .618 retracement of the xa leg followed by another .618 retracement of ab. Although the pattern is technically complete, Gartley patterns will often test all of the levels in their potential reversal zones which typically consist of the area between .786xa and ab=cd. A conservative entry is at the...

glennmercer

MSFT is consolidating after bearish price action in what appears to be a sideways combination corrective pattern. Regardless of EW count, there are multiple congruent harmonic patterns that if completed will be met with significant trendline resistance, helping to drive price down. List of confluence in PRZ is listed below. PRZ Confluence: 1. Two Bearish...

glennmercer

EURGBP has completed a bearish bat near significant trendline resistance. An unhit monthly pivot may drag the pair further past its X origin and toward the territory of 3 potential long opportunities.

glennmercer

EURJPY has completed a bullish crab and has shown signs of a reversal, opening up a nice potential bullish 5-0 trade opportunity. Entry will be at the 50% retracement of the bc leg with a very confluent target area. Target confluence between missed pivots, 61.8%CD (crab target) and 1.618bc=de (5-0 target).

glennmercer

GBPNZD has consolidated in a contracting triangle presenting an opportunity to trade short using Wolfe Wave with a high R/R. Potential target and SL provided on chart.

glennmercer

Multiple patterns setting up on EURGBP providing an opportunity to go long. Potential targets and SL on chart.

glennmercer

Potential patterns setting up on USDCHF opening up a short opportunity. Pending order set at top of expanding triangle with SL outside PRZ for bearish crab. Target set at at S/R zone and unhit weekly pivot. A second target may be set at the Wolfe Wave profit line.