glennmercer

glennmercer Updated 

Hey traders! I like a short position here as we're riding a trendline and there's a missed pivot below price. On the daily chart, we have a big bearish candle following a pinbar, a clearcut reversal pattern. I want to be short on the pullback toward the completion of a Gartley pattern. If price breaches SL but does not hit invalidation level, I may re-enter...

glennmercer Updated 

Hey traders! Similar to the GBPUSD trade, we have a potential Gartley lining up on the corrective structure. I want to be long on the breakout. We already have a trendline violation and a retrace. Also, some trendline support below price. I want to buy the zig-zag toward completion of the gartley pattern. Happy trading!

glennmercer Updated 

Hey traders! I'm trying to make some sense of this whipsaw action after the flash crash. We can see a correction is in process after the bearish impulse on 10/6. This trade capitalizes on a possible double combination wave: triangle -> flat -> zig-zag, where we are trading the final stretch of Wave-c. I want to move my stop to B/E quickly to protect the...

glennmercer

Hey traders! I like a long position here, but I want to buy the pullback to the unhit daily pivot which will yield a higher R/R and eliminate that bearish magnet. The .5 bat target is highly confluent, with another .786 fib and a missed daily pivot at the same level. I want to move quickly to breakeven after the trade is active. I will update with another idea...

glennmercer

Hey traders! EURNZD is approaching a high resistance area at the confluence of strong structure, 0.5 fib, and the potential completion of a triangle in wave-B. I want to start looking for reversal signs in that area toward the missed pivots and trendlines. More to come!

glennmercer

Hey traders! I want to buy the ((c)) wave after this potentially completed sideways correction. I'll be looking for bullish impulses off of the bottom barrier as expected by a C wave. Tight stop is placed just below bullish pinbar, and TP set to A=C level. After target 1 is reached, stop will be moved to breakeven. I will exit, even in profit, if the trade...

glennmercer Updated 

Hey traders! CADJPY is producing a nice bull flag and is likely wave-(iv)-of-((c)). That would mean that we have another rally coming before it's time to start looking for shorts. I have target set to the A=C level with SL beyond the point which would invalidate the triangle. Setup is valid unless new highs are made before triangle completion or if...

glennmercer

Hey traders, I am now actively looking for a short on OIL. The final pop that we were waiting for has followed through as planned and a triangle is forming which may mark the end of the bullish corrective price action. I would like to see one final bull flag rally and a nice touch on the upper trendline of the triangle before the dropoff. I will be looking for...

glennmercer Updated 

Hey traders, looking at a couple of speculative triangles for this pair. Although there are a lot of uncertainties at the moment on price action, we do know that this is corrective structure and thus a harmonic pattern like the cypher is an opportunity to take a long position toward further correction. More updates to come as the tide rolls and reveal wave...

glennmercer

Hey traders! I like the pinbar resistance forming here at the A=C level on this interruption of the bearish impulse. I like a short here down to the potential Crab level. Moving to breakeven quickly. Will update with more info as the tide rolls. Happy trading!

glennmercer

We have a potential inverse head and shoulders forming at the support area. This area is the same PRZ as predicted by the potential crab, and the area at which I have long alerts set. Looks like we have an impulse off of the support. I am now looking for a pullback to buy the (c)-wave toward completion of the correction. If the neckline is breached, I will buy...

glennmercer

I want to see price rally toward the PRZ of the potential cypher before selling GOLD. We may see a drop from current levels. This will happen if the previous degree fourth wave has already been completed. This trade will capitalize on a selling opportunity if the fourth wave is not yet complete, which I believe is a strong possibility judging from the wave...

glennmercer

Hey traders! We have a potential correction completion at the PRZ of a bullish bat. I'm looking to get long around the PRZ against trendline support. Two targets are in play, one at the unhit daily pivot and another at the base of the Gartley PRZ. SL will be placed tightly below root of the upcoming bullish impulse. Updates to come

glennmercer Updated 

Hey traders! Corrective structure on NZDUSD is giving us some great pattern trades. I want to buy this bat toward .786 fib. There are two more targets above, one at A=C and another at a potential butterfly completion level. Updates to come, happy trading

glennmercer Updated 

Hey traders! Here is quick setup that may gain a few pips on the move down toward minor degree wave-X. I want to take profit at the potential Gartley pattern to b conservative. SL is placed tightly above invalidation level. Updates to come as the tide rolls. Happy trading! PS: This one just dropped like a rock. Too late to sell, but I wanted to post...

glennmercer

Hey traders! The yen has been dropping against the dollar and is sending this pair into a bullish impulse. I like a long position here to ride out a potential fifth wave rally. I expect some support and a possible trade coming up if price drops into the shaded region. More updates to come as the tide rolls

glennmercer

Hey traders! Coming in with some weekend analysis prior to market open. We have two potential gartley patterns nearing completion on EURUSD. I want to start looking for short opportunities inside the PRZ. If price drops into the target area I will then be looking for long positions. More updates to come!

glennmercer Updated 

Hey traders! Oil has entered the next watch level after an extended corrective bull wave. An alternate bat is complete at the 1.13 projection of the (W)/(X) wave. I expect some resistance at these levels. The short target is our unhit pivots. I expect further drop twoard low 40's after that to complete (Z). More updates as the tide rolls. Happy trading!