Get started

S/R

Short NZDJPY: Possible Bat Complete at Trendline ResistanceNZDJPY may potentially complete a bearish bat at significant trendline resistance and a S/R zone. If price does reach this level before invalidating the bat patterns, there is a chance price could reach down past the X leg and complete a series of bullish patterns. Entry is placed at the bottom of the PRZ with targets at .618CD and bat/crab completion. SL is placed above 1.13XA. Confluence in the PRZ: Bearish bat Trendline resistance S/R Zone
Short
by glennmercer
EURCAD Short: Bat + Fib Cluster in S/R ZoneEURCAD is nearing the PRZ of a bearish Bat in a heavy S/R Zone. The SMA200 and EMA200 lines have been tested showing weakness. If price should complete the bearish bat this would present an opportunity to go short back toward the moving averages. An important .618 fib level from structure high to structure low aligns precisely with the .886 bat completion level and a Fibonacci cluster. Entry is placed at the bottom of the PRZ with SL above 1.13XA and target at .618CD. Confluence in the PRZ: Bearish bat Retest of EMA200 and SMA200 Strong S/R Zone Highly confluent Fib cluster
Short
by glennmercer
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
Short USDJPY: Bearish Bat + H&S + S/R + Missed PivotUSDJPY is completing a bearish bat pattern near a strong support and resistance zone. We also have the neckline from a head and shoulders pattern striking through the S/R area for added resistance above the PRZ. SL is placed above 1.13XA with targets at .618CD and the unhit monthly pivot for November, 2015. Confluence in the PRZ: Bearish bat pattern completion Head and shoulders neckline S/R zone 2.5BC projection 1.786AB=CD Unhit November, 2015 pivot 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: 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
Short CADJPY: Gartley + Wolfe + TL + PivotCADJPY has completed a bearish Gartley pattern and has thus far respected its resistance in the potential reversal zone. The Gartley PRZ falls in the sell zone of a bearish Wolfe wave which produces a confluent target with the harmonic pattern. To add to bearish bias, an unhit monthly pivot sits below price. SL is set above Gartley 'X' point with targets at .382CD, .618CD, and the unhit pivot for the month of November. Confluence in the PRZ: Bearish Gartley pattern completion AB=CD (Gartley) 1.5BC projection (Gartley) Bearish Wolfe wave setup complete Trendline resistance confluent with Gartley PRZ Unhit monthly pivot below price 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
1
USDJPY Short: 2 Bats, Continuation of Larger TF Bearish GartleyAfter a bullish Wolfe Wave setup completed for +50 pips, profit-taking may bring the pair back down again. Two confluent harmonic patterns present an excellent R/R for re-entry to catch the continuation of bearish movement related to the daily Gartley pattern (see related ideas). Price has been contained below the Wolfe Wave targetline and any close above recent highs will invalidate the entry. Target is placed at T1 (.382CD) with SL above recent highs. Confluence in the PRZ: Bearish bat pattern completion Bearish alternate bat pattern completion Wolfe Wave target line .618 key fib level Bearish Gartley bias on the daily chart Missed monthly pivots below price Bearish Gartley on D1: Wolfe + Elliott, Possible Stall in Bullish PA: 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
Short AUDCAD: Bat, Crab, Wolfe, Trendline, Pitchfork, PivotsAUDCAD is nearing a highly confluent zone of resistance. A bearish bat and a bearish crab are set to complete in a tight PRZ that may be contained by trendline and pitchfork resistance. A bearish Wolfe wave setup may also be completed in this area. To add to the bearish bias, two unhit daily pivots sit below price. RSI is overbought as well. Stop loss is placed above Bat X with targets at .382 and .618 CD retracement levels. Confluence in the PRZ: Bearish bat pattern completion 1.618AB=CD (bat) 1.618BC projection (bat) Bearish crab pattern completion 3.5AB=CD (crab) 6.786BC projection (crab) Bearish Wolfe wave set up Trendline resistance Pitchfork resistance Unhit pivots below price RSI overbought Thanks for your support and don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Short
by glennmercer
2
Short USDJPY: Bearish Gartley at TL Resistance X2USDJPY has completed a bearish Gartley pattern at the intersection of two S/R trendlines. The structure of the Gartley is such that it's AB=CD completion forms a tight PRZ with the .786XA level. The PRZ coincides with the .786CD target for the bullish butterfly completed in August, 2015. To add to the bearish bias, an unhit November, 2015 sits below price and coincides with the .618CD Gartley target. SL is placed above Gartley point X and target set at the monthly pivot for November. Confluence in the PRZ: Bearish Gartley pattern completion AB=CD pattern completion S/R trendline (2X) .786CD butterfly target Unhit November, 2015 pivot below price Thanks for viewing and don't forget to click the thumbs up button for future updates and more trade ideas!
Short
by glennmercer
5
Short AUDCAD: Gartley, Alt. Bat, Wolfe Wave, Trendline & PivotAUDCAD is nearing the completion of two bearish advanced patterns. The pattern PRZ is confluent with a potential Wolfe Wave setup. A daily trendline may add to the resistance in the PRZ. An unhit weekly pivot sits below price to add to the bearish bias. SL is set above secondary trendline resistance. Targets are set at .382 and .618 retracements of XA. A third target is placed at the BC terminus which is confluent with the Wolfe Wave target line. Target Risk/Reward Ratios: T1: 0.75 T2: 1.23 T3: 2.02 Confluence in the PRZ: Bearish Gartley pattern completion Bearish AB=CD (Gartley) 1.272BC projection (Gartley) Bearish alternate bat pattern completion 2.24BC projection (alt. bat) 1.786AB=CD (alt bat) Bearish Wolfe Wave setup Unhit weekly pivot below price 2 daily S/R trendlines (see below) 3 Day Chart: Trendlines Thanks for your support and please don't forget to click the thumbs up button and follow for future updates and more trade ideas
Short
by glennmercer
2
EURJPY Long: Bullish Bat PRZ Confluent with S/REURJPY has entered the PRZ of a bullish bat that is confluent with various other S/R elements. On the D1 time frame, a pitchfork aligns with with the .50 retracement of a larger XA leg. This area is confluent with the 1.786 projection of BC and and the completion of an alternate AB=CD pattern. There's a secondary structure low below this level to add support. Target is placed at the .382 retracement of CD which coincides precisely with the new pivot for this week. I am taking a conservative profit target at the .382 retracement of CD because a daily support trendline will likely act as resistance on the way back up. SL is placed below S/R. Confluence in the PRZ: Bullish bat pattern completion Pitchfork support .5XA (D1) Previous structure low 1.786BC projection 1.272AB=CD Unhit weekly pivot above price D1 Trendline, .5XA and Pitchfork Support: Thank you for your support and motivation!
Long
by glennmercer
6
SHORT GBPJPY: 6 ReasonsGBPJPY has completed a series of bearish patterns. Two bearish Wolfe Waves are entering a their sell zones. A bearish Gartley pattern makes for a good place to enter. The Gartley PRZ is confluent with trendline resistance. SL is placed above X/5/5 with target at the unhit weekly pivot. Confluence in the PRZ: 1. Large bearish WW pattern potentially complete 2. Small bearish WW pattern potentially complete 3. Bearish Gartley pattern complete 4. Trendline resistance 5. .886AB=CD 6. Unhit weekly pivot below price GARTLEY 15M Thanks for viewing and follow for future updates and more trade ideas!
Short
by glennmercer
Short EURJPY: 5 ReasonsEURJPY is showing bearish price action in the PRZ of multiple confluent harmonic patterns. After completing a bearish bat, price was rejected at the PRZ and is retesting the reversal area. In this area we have two bearish butterflies that have completed at trendline resistance and a bearish Wolfe wave setup as well. To add to the bearish bias, two unhit weekly pivots sit below price. Confluence in the PRZ: 1. Bearish bat pattern completion 2. Two bearish butterfly pattern completions 3. Unhit weekly pivots below price 4. Bearish Wolfe wave setup 5. Trendline resistance Thank you for viewing and please don't forget to click the thumbs up button and follow for future updates and more trade ideas!
Short
by glennmercer
Long EURNZD: 10 Reasons!EURNZD is completing a conglomerate of potential harmonic patterns to produce a highly confluent kill zone. In addition to a host of pattern completions, there is added support from a long term trendline and another strong S/R area further below price. SL is placed below the S/R area and targets placed at the .382 and .614 retracement of CD. Confluence in the PRZ: 1. Bullish Gartley pattern completion 2. Bullish crab pattern completion 3. Bullish deep crab pattern completion 4. Bullish butterfly pattern completion 5. 2BC Projection 6. .786XA 7. 2.13AB=CD (Coincides with its .886AB reciprocal ratio) 8. 2.618BC Projection 9. Long-term trendline support 10. Strong S/R area Thanks for viewing and please don't forget to take a second to click the thumbs up button and follow for future updates and more trade ideas!
Long
by glennmercer
Short USDJPY: Possible Wolfe Wave & Bearish Cypher -TIGHT PRZUSDJPY is forming a possible Bearish Cypher pattern, potentially ending in the territory of an optimal Wolfe Wave SELL zone. If price reaches this level I would expect a quick reversal as this area is highly confluent with multiple key levels of interest. Stop loss can be placed above S/R with a target at .382CD. Confluence in the PRZ: 1. Bearish Cypher Completion 2. 1.272BC 3. 2AB=BC 4. Possible WW Reversal Zone Follow for updates and trade ideas
Short
by glennmercer
1
AUDJPY Short: Gartley Complete, Target at Weekly PivotAUDJPY has completed a precise bearish Gartley pattern after a .618 retracement of the xa leg followed by another .618 retracement of ab. Although the pattern is technically complete, Gartley patterns will often test all of the levels in their potential reversal zones which typically consist of the area between .786xa and ab=cd. A conservative entry is at the top of the PRZ, should price reach that level. This allows for a stop above structural S/R while maintaining a substantial risk-to-reward ratio. The new weekly pivot provides a nice target as it is confluent with .618cd.
Short
by glennmercer
Bullish Cypher PatternCypher pattern completed and another cypher pattern setting up in smaller time frame. I Break this trade into 3 targets Target 1 - 38.2% retracement of the cypher pattern which also close to 78.6% D leg (Smaller cypher pattern) Target 2 - I always set target 2 at 61.8% for cypher pattern Target 3 - Other side corrective wave 4 is on progress (ABC flat correction) wave A just completed and expecting wave B to be completed at 91.95 area which is 90% of the whole A leg Have a Good Trading Week!!!
Short
by EWA