Blog Roll

$USDCAD-break?
Thursday, June 22, 2017 - 07:39
$CADJPY-channel finish?
Wednesday, June 21, 2017 - 07:33

Currently we are @ 84.01in an up channel.  We are looking to move to the day chart top @ 84.91 and then reverse.  The average daily true range (ATR) for the pair currently is 90 pips.

$EURGBP-channel?
Tuesday, June 20, 2017 - 07:48

Currently we are @ 0.8810 in an up channel.  We are looking to move to the triple top @ 0.8858 and then to the 1.618 Fibo @ 0.8973.  The average daily true range (ATR) for the pair currently is 58 pips.

$GBPCHF-channel Break?
Monday, June 19, 2017 - 07:48

Currently we are @ 1.2426 out of the up channel.  IF we can break this support, we are looking to move to the 0.382 Fibo @ 1.2354 and then to the 0.214 Fibo @@ 1.2305.  The average daily true range (ATR) for the pair currently is 108 pips.

Target Trading in the Forex week of June 18th, 2017
Target Trading in the Forex week of June 18th, 2017
Target Trading in the Forex week of June 18th, 2017
Target Trading in the Forex week of June 18th, 2017
Saturday, June 17, 2017 - 08:24

$EURUSD

What ProAct Forex Target Traders See:   We are currently sitting @ 1.1120 (5 pips difference then last week). We are looking to complete a 5th wave in the 1.1500 area. Might take a while though since the pair’s ATR is so low for its popularity.  The average daily true range (ATR) for the pair currently is 67 pips.

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$USDJPY                                                                                                                   

What ProAct Forex Target Traders See:  We are currently sitting @ 110.84 in a range.   We are looking to continue down to the Bottom @ 108.37 area. The average daily true range (ATR) for the pair currently is 93 pips.

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Cable is currently @ 1.2784 and in a trend down due to the election.  WE are looking to move first to the S5 Target @ 1.2602 and then to the 0.786 Fibo @ 1.2512.  The average daily true range (ATR) for the pair currently is 108 pips.

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

What ProAct Forex Target Traders See: We are currently sitting @ 0.7623 in a channel.  We are looking to continue to the 1.618 Fibo @ 0.7698 and then print a 4th wave before resumption to the 0.7800 Target.  The average daily true range (ATR) for the pair currently is 56 pips.

$AUDJPY-channel continuation?
Thursday, June 15, 2017 - 07:48

Currently we are @ 83.59 in a nice channel.  IF we can break this top, we are looking to move to the Resistance @ 84.00 and then reverse there back to the channel bottom.  The average daily true range (ATR) for the pair currently is 73 pips

$EURAUD-descending wedge break?
Wednesday, June 14, 2017 - 07:44

Currently we are @ 1.4778 and just out of a descending wedge which is bearish for the pair.  We are looking to move initially to the -0.618  Fibo @ 1.4741 and then continue to the Day chart bottom @ 1.4069.  The average daily true range (ATR) for the pair currently is 119 pips.


June Pay Your Mortgage Trade Setup Idea
June Pay Your Mortgage Trade Setup Idea
Tuesday, June 13, 2017 - 12:03

This month's ProAct Traders “Pay Your Mortgage Trade” idea is found in the GBPAUD and the EURAUD pair.

 

06/13/17

 

GBPAUD

 

We see that we are still in a 3rd wave to the downside and are waiting to finish this correction and then resume the move to the downside. The overall target from here is 682 Pips away @ the S7 (1.6234).  The 4th wave could be 150 pips or so which would add that to the total if caught at the top.

 

How to trade it? You will need to wait for your set-up to show up, for London & New York traders, that will mean waiting for the reaction now in the current area.  Take your first entry and use the respective risk reward ratio to start trading this currency pair. We have preplaced entry orders (sell stops) on the break of each Fib and barrier to the downside and any rally should be considered an area to add to the position.  DO NOT TRY AND CROWD THIS PAIR WITH TIGHT STOPS.  Remember the “pullback is your friend” in route so use those to add to the position. 

 

Be careful at the 0.618 Fibo @ 1.6605 since that may be a bounce point to pullback and go up.

 

The pair typically has pullbacks in the 180 pips range so every pullback could add an additional 180 pips to the trade with another position. Currently the ATR (14 Day - Average True Range) of the currency is 183 Pips per day, so this might take about 2 weeks with pullbacks!

 

EURNZD

 

We see that we are still in a 3rd wave to the downside and are targeting the 0.786 Fibo @ 1.5277 as the target for the 4th wave bounce.  The overall target from here is 557 Pips away @ the S7 (1.4946).  The 4th wave could be 150 pips or so which would add that to the total if caught at the top.

 

How to trade it? You will need to wait for your set-up to show up, for London & New York traders, that will mean waiting for the reaction now in the current area.  Take your first entry and use the respective risk reward ratio to start trading this currency pair. We have preplaced entry orders (sell stops) on the break of each Fib and barrier to the downside and any rally should be considered an area to add to the position.  DO NOT TRY AND CROWD THIS PAIR WITH TIGHT STOPS.  Remember the “pullback is your friend” in route so use those to add to the position. 

 

Be careful at the 0.786 Fibo @ 1.6605  and also the 1.5089 area since these may be bounce points to pullback and go up.

 

The pair typically has pullbacks in the 150 pips range so every pullback could add an additional 150 pips to the trade with another position. Currently the ATR (14 Day - Average True Range) of the currency is 124 Pips per day, so this might take about 2 weeks with pullbacks!

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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.

 

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 your own 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.

$AUDCHF-topped out?
Tuesday, June 13, 2017 - 07:45

Currently we are @ 0.7289.  We are looking to move initially to the 0.500 Fibo @ 0.7241 and then continue in a 5th wave.  The average daily true range (ATR) for the pair currently is 64 pips

$AUDNZD-Square Up?
Monday, June 12, 2017 - 07:44

Currently we are @ 1.0480.  We are looking to square up @ 1.0582 and then start another move to the downside.  The average daily true range (ATR) for the pair currently is 64 pips.

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