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Glennmercer

USDCAD Trendline Breakout: Sell Wave-(v) to GartleyHey 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 depending on price action. After target is achieved, I want to continue short toward missed weekly pivot unless price action shows signs of bullishness. Happy trading!
Short
by glennmercer
7
GBPUSD Long: Making Sense of the CorrectionHey 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 position from a potential triangle, which is a possibility in this scenario. However, I'm counting wave-a as a five wave sequence which if true will follow through as a zig-zag, hence this trade idea. More updates to follow. Happy trading
Long
by glennmercer
3
EURAUD Long: Triangle Complete in Wave-((b))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 looks to be undergoing further corrective structure as this will add uncertainty to the setup. Happy trading and more to come!
Long
by glennmercer
5
OIL: Ready to Drop!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 bearish impulses to ride down toward the missed pivots within the next 24-48 hours. Happy trading, and more to come
TVC:USOILShort
by glennmercer
SILVER LONG: I Want to Buy a PullbackWe 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 the breakout with a tight stop behind the root of the impulse. Updates to come. Cheers
FX:XAGUSDLong
by glennmercer
2
EURO: Combining EW With Harmonics - Triangle BreakoutHey traders! Looks as though the complex correction is complete for this pair. We have a bullish impulse that followed which points to wave count confirmation, but not until the fifth wave completes. I want to trade this fifth wave after the triangle completes. At the schedule completion of the triangle, a potential bullish Gartley has formed a potential reversal zone. In addition to a high probability breakout, we also get a nice risk to reward ratio out of it. It is smart to wait for bullish confirmation and pullback. PS: Video support for analysis coming soon! This complex correction is a good candidate for explanation. Cheers!
Long
by glennmercer
8
GBPUSD Wave-X Complete with Bat: Ready to RallyHey traders! Looks like the minor degree Wave-X is complete on GBPUSD. In addition to the wave count, a bullish bat is complete and has shown some pin support. I want to buy here with a tight stop below the root of potential wave-1. If SL is hit, this is not the first wave of the rally and I don't want to be in the trade any longer. Otherwise, we have huge profit targets above including missed pivots and weekend gap level. Happy trading!
Long
by glennmercer
9