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Gmercerfx

AUDUSD Short: Shark + Wolfe + S/R + Trend ContinuationAUDUSD 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 pattern completion point with a SL above 1.272XA/Moving averages and targets at .618CD, C point, and the .886 fib retracement level. Bearish Confluence: Bearish shark pattern completion 2.272AB=CD 1.618BC Projection Bearish Wolfe Wave setup S/R Zone 200SMA Resistance 200EMA Resistance Trend Continuation
Short
by glennmercer
8
Long GBPJPY: Alternate Bat at Trendline SupportGBPJPY 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 divergence printed, which is also oversold. Entry at current levels with SL below structure lows and target at the .382 retracement of the CD leg. The target is confluent with the missed pivot cluster. Confluence in the PRZ: Bullish alternate bat pattern complete Strong daily trendline support Missed pivot cluster at .382CD retracement Bullish RSI divergence RSI Oversold Possible retest of breakout line
Long
by glennmercer
2
EURNZD Bullish 2618 to Bearish Bat + Gartley + ButterflyEURNZD 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 the double bottom Target is taken at the 127.2% extension Trade 2: Bearish Bat + Butterfly + Gartley Entry in the center of the PRZ TP at .618CD (or move to B/E at this level and let the trade run toward the bullish shark completion) SL outside of 113% XA Thanks for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Long
by glennmercer
Long EURUSD: Crab + Shark + Fan Support + S/R ZoneEURUSD 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 advanced patterns. Confluence in the PRZ: Bullish shark pattern completion Bullish crab pattern completion Strong S/R zone .5 fib speed fan support TCT Thanks for your support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Long
by glennmercer
USDCAD Long: Gartley TCT at Wave ((iv)) S/R ZoneUSDCAD 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 the Gartley/EW targets align precisely with my short entries. Confluence in the PRZ: Bullish Gartley pattern completion AB=CD pattern completion Wave ((iv)) support at entry Wave ((v))/5 completion at target Thanks for your support and don't forget to click the thumbs up button and follow for future updates and more trade ideas! Here is a longer TF Outlook to consider:
Long
by glennmercer
AUDCAD Short: Gartley, 2 Crabs, Wolfe Wave, Pivot, S/RAUDCAD 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 with target at the December pivot/.5CD. Confluence in the PRZ: Bearish Gartley pattern completion Bearish crab pattern completion (2X) .382 Fib S/R level Bearish Wolfe wave setup Unhit December, 2015 pivot below price Thanks for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Short
by glennmercer
Long EURUSD: Huge Gartley Complete at Support + Bat + ButterflyEURUSD has completed a large Gartley pattern on the weekly TF at a very important area of support. The support comes from a trendline dating back to the year 2000 which has been tested three times and has yet to be broken in the past 15 years. This is the second time price has tested the Gartley PRZ, proving it to be a key area of support as well. To add to the bullish bias, two confluent harmonic patterns have emerged on shorter time frames. These 4H harmonic patterns provide an excellent opportunity to enter the larger TF Gartley more precisely. Possible Stop Loss and Targets: T1: Unhit pivot for November, 2015 | .618CD (Bat & Butterfly) | R:R=3 T2: Missed pivot for January, 2015 | .382CD (Gartley) | R:R=9 T2: Missed pivot for September, 2014 | .618CD (Gartley) | R:R=15 SL: Below bat point X Confluence in the PRZ: Bullish Gartley pattern completion Bullish bat pattern completion Bullish butterfly pattern completion 6 missed monthly pivots above price Strong trendline support Weekly Chart: Thank you for your continued support!
Long
by glennmercer
9
AUDCAD Short: Bearish Wolfe Wave Complete at ResistanceAUDCAD has completed a bearish Wolfe Wave setup at a crucial point of resistance. In the Wolfe wave sell zone, two 200% projections are closely aligned. In addition to this, a strong long term trendline sits at current price to provide potential resistance. To add to the bearish bias, MACD is bearish divergent and multiple missed daily pivots sit below price. Target is placed at the 1-4 Wolfe Wave target line. Trendline Resistance Thanks for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Short
by glennmercer
$AUDJPY Short: Wolfe, 2 Crabs, Pivots, Divergence, OverboughtAUDJPY has completed a bearish Wolfe Wave setup in the PRZ of two confluent bearish harmonic crabs. RSI is overbought and has printed bearish divergence. To add to bearish bias, two unhit pivots sit below price. SL is placed above the PRZ with target at .618CD (yellow crab). Confluence in the PRZ: Two bearish crab patterns complete Bearish Wolfe wave setup Unhit daily pivot below price Missed daily pivot below price RSI overbought Bearish RSI divergence Thank you for your continued support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Short
by glennmercer