Blog Roll

$GBPJPY –Next Target?
Wednesday, February 10, 2016 - 07:48

Currently we are 166.73 in a 3rd wave.  We are looking to continue to the S7 @ 163.88 and then correct. The average daily true range (ATR) for the pair currently is 229 pips.

$EURUSD –Next Target?
Tuesday, February 9, 2016 - 07:51

Currently we are 1.1290 in a 3rd wave.  We are looking to continue to the R6 @ 1.1330 and then correct. The average daily true range (ATR) for the pair currently is 95 pips

$AUDJPY –Next Target?
Monday, February 8, 2016 - 07:44

Currently we are 82.16 in a 3rd wave.  We are looking to continue to the S5 @ 81.30 and then correct to finish near 78.75. The average daily true range (ATR) for the pair currently is 150 pips.

Target Trading in the Forex week of Feb 1st, 2016 (EU,UJ,GU,AU)
Target Trading in the Forex week of Feb 1st, 2016 (EU,UJ,GU,AU)
Target Trading in the Forex week of Feb 1st, 2016 (EU,UJ,GU,AU)
Target Trading in the Forex week of Feb 1st, 2016 (EU,UJ,GU,AU)
Saturday, February 6, 2016 - 09:14

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.1145 and starting a 3rd wave.  Short term of course you can see a potential move down to the 1.1019 but looking to continue to the 0.618 Fibo @ 1.1385 with a continuation to the R7 @ 1.1500. The average daily true range (ATR) for the pair currently is 95 pips.

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$USDJPY                                                                                                                   

What ProAct Forex Target Traders See:  We are currently @ 116.90.  We are looking for a pullback to the S5 and then a decision.  Range: look to the 120.43.  Trending:  move to 113.97.  The average daily true range (ATR) for the pair currently is 126 pips.

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Sterling is currently @ 1.4500 and we are looking to finish the correction and then bounce to the R6 @ 1.4692   The average daily true range (ATR) for the pair currently is 148 pips.

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$AUDUSD – A great smooth currency for Newbie’s! 

What ProAct Forex Target Traders See:  Aussie is @ 0.7067 and possibly still in a large range. A couple of different scenarios:  1:  Bullish: a move to the square up @ 0.7267 area) and 2: Bearish: A break down to the support @ 0.6816. The average daily true range (ATR) for the pair currently is 95 pips.

$EURUSD –Next Target?
Thursday, February 4, 2016 - 08:23

Currently we are at 1.1198 in a 3rd wave.  We are looking to continue to the square up @ 1.1495 and then correct. The average daily true range (ATR) for the pair currently is 82 pips.

 

$GBPCHF –Rising wedge?
Wednesday, February 3, 2016 - 07:53

Currently we are at 14.4758 in a rising wedge which is bearish for the pair. We are looking to continue to the R5 top @ 1.4805 and then reverse to 1.4640. The average daily true range (ATR) for the pair currently is 177 pips.

$CADJPY –Range Opp?
Tuesday, February 2, 2016 - 08:55

Currently we are at 85.43 in a nice big range. If we break the current 0.214 Fibo support, we are looking to continue to the 0.382 Fibo @ 0.83.93 with a near term overall target near 82.98. The average daily true range (ATR) for the pair currently is 155 pips.

February Pay Your Mortgage Trade Setup Idea
February Pay Your Mortgage Trade Setup Idea
Monday, February 1, 2016 - 09:01

This month's pay your mortgage trade setup is found in the AUDUSD pair. When looking at this pair on a 240 min chart you'll notice a possibility of two scenarios:  a large range or a possible finish of a 4th Elliott wave in a trend. The nice thing about this setup is that even though we do not yet know what it is, the result of either should produce similar results. There are two sell entry points but both must be out of this corrective wave so easy to see when to execute.  Depending on the entry execution we are looking for 270-500 pips!

 

Keep in mind the chart scale as you prepare for a trade like this. It took over 2 weeks to complete wave 3 but that move had very little sideways moves.  We can't know how long it will take to complete the 5th wave, but the impulse wave is a good indicator. Plus, 500 pips is well over the pair's average true range so this is going to take a number of days.  Also be aware that if this is NOT a large range but is indeed a trending move then there are an additional 100 pips potential at the end of the wave.  Both Elkana and I agree that this is a great opportunity, we just are not sure of the range or the trend.  What is it?  The market will confirm that as we go along.

 

Our trading methodology is based on proprietary technical indicators. We pay attention to what the big banks are doing in the markets (the Big Boys) and specifically look for opportunities that have a high opportunity and low risk. We always identify our target before entering a trade, and we focus on the risk of the trade instead of the reward. We have (and follow) rules, and we press our winning trades without exception.

 

Margin management is a topic for another day, but remember that we recommend that you always trade with stops. And if you don't trust yourself or think you'll get cold feet in a long trade like this, then place the trade and walk away. Better to get taken out by a stop or target than to second guess an active trade and take yourself out. Do your research before you place the trade. Trust your research.

 

Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. Before deciding to trade foreign exchange you should carefully consider your investment objectives, level of experience and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading and seek advice from an independent financial advisor if you have any doubts.

Target Trading in the Forex week of Feb 1st, 2016 (EU,UJ,GU,AU)
Target Trading in the Forex week of Feb 1st, 2016 (EU,UJ,GU,AU)
Target Trading in the Forex week of Feb 1st, 2016 (EU,UJ,GU,AU)
Target Trading in the Forex week of Feb 1st, 2016 (EU,UJ,GU,AU)
Saturday, January 30, 2016 - 10:05

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.0827 and ranging.  I have posted the inset of the USDX which is potentially close to topping out so we are setting up for an interesting opportunity.  If the USDX reacts to the downside at the top, we should see Euro strength up to 1.1202 and maybe higher.  Short term of course you can see a potential move down to the 1.0500. The average daily true range (ATR) for the pair currently is 82 pips.

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$USDJPY                                                                                                                   

What ProAct Forex Target Traders See:  We are currently @ 121.11 and a nice reaction from the BOJ.   We are looking for a pullback to the R4/0.500 Fibo and then a bounce to 122.53 with a further target @ 123.62.  The average daily true range (ATR) for the pair currently is 112 pips.

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Sterling is currently @ 1.4241 and while currently still in a range, is most likely in a 5th wave down. We are looking for a continuation to the S5 @ 1.43370 and then a continuation to the S6 area @ 1.3804-38.  The average daily true range (ATR) for the pair currently is 133 pips.

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$AUDUSD – A great smooth currency for Newbie’s! 

What ProAct Forex Target Traders See:  Aussie is @ 0.7068 and still in a large range. A couple of different scenarios:  1:  Bullish: a move to the square up @ 0.7267 area) and 2: Bearish: A break down to the support @ 0.6816. The average daily true range (ATR) for the pair currently is 94 pips.

The average daily true range (ATR) for the pair currently is 93 pips.

$AUDCHF –Range opp?
Thursday, January 28, 2016 - 07:46

Currently we are at 0.7168 in a Nice range. If we break the current Fibo resistance, we are looking to continue to the double top @ 0.7315 with a near term overall target near 0.7400. The average daily true range (ATR) for the pair currently is 117 pips.

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