glennmercer

glennmercer

CADJPY has formed a falling wedge and a three drives pattern. This is an ideal Wolfe Wave setup, with the 1-4 profit line providing a target. Missed and unhit pivots will likely add pressure to the upside.

glennmercer

EURUSD has potentially completed a minor wave 2 correction and may be ready to resume strong bullish movement in wave 3 of (3). Entry above S/R after breakout with SL below top of ((i)) of 1 (movement below this level will invalidate EW count). 0.5 of primary bearish impulse is an aggressive target, yet not out of reach with an upcoming 'third of a third'...

glennmercer

A clear zig-zag correction is forming after strong bullish movement. The 50% retrace of the bullish impulse is confluent with the 1.272 ext. of the A wave. An AB=CD pattern will have also completed in that area.

glennmercer

A Bullish 5-0 pattern has completed on USDCHF at 0.938 on the H1 chart. The optimal entry has passed, however a bearish gartley pattern may present a second long opportunity to T2 with a R/R of 1.5 and a high probability of completion. Target is confluent with weekly pivot and positive USD Core Durable Goods news will likely send the pair higher.

glennmercer

EURGBP is completing a possible ending diagonal in a critical S/R zone. Entry below support provides a substantial R/R with possible profit targets at the wolf wave profit line and at the .5 fib which coincides with wave ((iv)) price territory. Bearish Knoxville divergence combined with two unhit daily pivots will likely drag the pair down from current levels.

glennmercer

CHFJPY has completed a 5 wave impulse and is due for a correction. Bearish divergence in addition to a trendline break provide indication that the correction has started. Entry at the break and target at the .5 fib above unhit daily pivot provide a nice R/R for a short trade.

glennmercer

CADCHF has completed a 5 wave impulse and is due for a correction. Bullish divergence in addition to a TL break indicates the beginning of the correction. Entry at the .382 fib of "A" wave with target at daily pivot/.382 fib provides a high probability long position.

glennmercer

GBPCHF has completed a 5 wave impulse and is due for a correction. Upon a 1HR candle close above the trendline and broken resistance, a long position to the daily pivot for 8/20 provides a high probability trade.

glennmercer

Previous EURCAD short did not trigger as support was not broken. A new short opportunity has presented itself. Bullish impulse is complete at a critical fib level. The beginning of a correction has been confirmed with a 1Hr close below the trendline. Short to daily pivot for 8/20.

glennmercer

EURCAD is showing resistance around 1.4612 which has thus far contained price within a 5-week long daily chart channel. Divergence has been printed on the 1HR chart. I anticipate that if minor support is broken a retrace to 1.534 is likely.

glennmercer

YHOO is completing a C wave down in the price territory of its previous degree wave 4. Buy on breakout with a SL at 28. Targets may be placed below all time highs and at the 1.272 ext. of primary impulse wave.

glennmercer

PG has met a very heavy support and resistance zone: We can also observe the printing of triple bullish Knoxville divergence (RSI oversold, significant momentum divergence) and a bullish broken trendline, indicating an upcoming move upward. A conservative entry can be placed above recent highs for further confirmation. Three targets may be set as...

glennmercer

Details on chart

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Details on chart

glennmercer

Resistance from the top of the diagonal provides a short opportunity toward the missed pivot for Friday, 8/14 and the newly printed weekly pivot for 8/16. If the profit target is reached before the trade is triggered the trade will become invalid. If the SL is hit, I will start building a long position for a longer-term breakout trade.

glennmercer

Short EURJPY on correction towards new daily pivot. R/R of 2.5.

glennmercer

Long EURUSD for the following reasons: 1. Coming up on long-term trendline support 2. Bullish Knoxville Divergence (Momentum Divergence + RSI Oversold) printed on 15m and 1HR charts 3. Price closed above 12 hour trendline 4. Unhit daily pivot and an unhit pivot cluster sit above price, acting as high probability reversion-to-mean targets 5. Elliott Wave count...

glennmercer

EURJPY has broken a 6 hour trendline after completing a 5 wave structure. Opportunity to go long at the break with a SL below recent lows and target at the unhit daily pivot.