glennmercer

glennmercer

Wrong Chart - Please Ignore - See SODA

glennmercer

A long Wolfe Wave setup has completed at its 1-4 profit line. If price re-enters and closes within its bearish channel, this will provide an opportunity to go short with two possible targets. Details on chart.

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T1 Achieved A Bullish Crab formation has been completed by EURGBP which provides an opportunity to go long with a substantial R/R ratio. It is good to enter around .6966, with a first target around .705 and a SL around .692. A second target may be placed around .712.

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4Hr Knoxville Divergence + Trendline Break + Kings Crown Pattern After a bearish trend, NZDCAD has printed bullish Knoxville Divergence, broken a major trendline, and made new highs that present us with an opportunity to go long on a possible Kings Crown reversal pattern. A trading strategy for this pattern is explained below: 1. Determine a total position...

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Quick short idea based on a simple bearish doji reversal pattern and an overbought UC: 1. Bullish movement 2. Doji (cross), indicating indicision 3. Bearish candle The new daily pivot provides a nice conservative target, as this pair has been in a vicious uptrend. SL above structure highs. Note: For counter-trend trades such as this one, a small position...

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A potential long opportunity has presented itself in EURGBP after a Bullish Bat pattern has been completed. Bullish Knoxville divergence has also been printed at the completion point, providing another indication of a potential move upward. Targets and details on chart. Knoxville Divergence: The presence of significant Momentum (20) divergence while RSI (21)...

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Short EURCAD after bearish Knoxville divergence (momentum, RSI overbought) and the completion of a bearish Gartley pattern: T1: 1.403 T2: 1.393 SL: 1.413

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Details on chart. 15m TF analysis:

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Short EC based on divergence, trendline break, AB=CD pattern and Wolfe Wave. Taking the more conservative profit target of AB=CD harmonic around 1.393 which also coincides precisely to halfway the distance between the most recent .618 fibo and missed daily pivot from 6/30. A move to this level will complete the AB=CD harmonic. Details on chart. Wolfe Wave:

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Update 2: Stopped Out Update 1: Close above highs - Trade is Active Possible Wolfe wave setup on GBPNZD. Long on 60m close above recent highs. After resistance at 2.339 is broken there is little to hold the pair back from reaching the 2.36-2.37 TP zone. Trade will become invalid if price closes below bottom of parallel channel.

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I believe GA is in a corrective wave 4. Buy on break of swing high. Take half profit and move the SL of second half to break even at 1.272 extensions of waves 1-3. Take full profit at 1.618 extension.

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USDJPY has been showing weakness since last week after a decline from around 124.3. After reaching Bearish Bat target T2 it has retraced .618 to a high resistance area. We may start looking to short the pair with targets at the 1.272 and 1.618 extensions from the previous swing high. Stop loss around 124. T1: 121.4 T2: 120.7 SL: 124.0

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USDJPY has met Target 1, 61.8% retracement of CD leg of the bearish bat pattern created on 6/24. From here, we may look for a potential setup of a number of future harmonic patterns. If price does not reverse at T1, the next Bat target to look for is 122.05. If price rebounds from T1, we may look for a reversal in PRZ, which is the 38.2-88.6 retracement of our...

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If the 88.6% fib level holds, the bullish bat pattern will remain valid and I will target the 61.8% retracement of CD leg. If the stop loss is hit, the next level I will be looking for is 113% for an alternate bat formation.

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EC has formed falling wedge at NY close. Long after breakout and close above the top of the wedge. Profit target at the 38.2% retracement from swing high with a stop loss around 1.3735.

glennmercer

EC has formed falling wedge at NY close. Long after breakout and close above the top of the wedge. Profit target at the 38.2% retracement from swing high with a stop loss around 1.3735.

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EU has retraced to key level 127.2 after passing the important 78.6 Gartleyarea. Kathy Garber has refered to this pattern as a Garfly. I am long with a target near the 51.8 retracement of XA.

glennmercer

AUDNZD has approached the Sept-Oct 2014 resistance level after a strong bullish move. Short at 1.1243 with profit target at the .786 retracement from recent low on June 17th 2015.