Blog Roll

Target Trading in the Forex week of January 22nd
Target Trading in the Forex week of January 22nd
Target Trading in the Forex week of January 22nd
Target Trading in the Forex week of January 22nd
Saturday, January 21, 2017 - 09:10

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.0705 in a large channel in a range.  We are looking to continue working this channel up to the range top @ 1.0796 and then start a down move.  The average daily true range (ATR) for the pair currently is 87 pips.

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$USDJPY                                                                                                                   

What ProAct Forex Target Traders See:  We are currently sitting @ 114.31.  We are looking to initially move to the S6 @ 112.50 and correct there before resumption to the bottom @ 111.38.  The average daily true range (ATR) for the pair currently is 144 pips.

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Cable is currently @ 1.2377.  We are in a large range.   We are looking to move to the 0.214 Fibo @ 1.2556 area with a continuation to the range top @ 1.2689.  The average daily true range (ATR) for the pair currently is 150 pips.

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

What ProAct Forex Target Traders See:  Aussie is @ 0.7560 and in a 5th wave.  We are looking to the 0.7679 are to top pout and then rollover for a down move. The average daily true range (ATR) for the pair currently is 68 pips.

$AUDJPY–5th wave continuation?
Thursday, January 19, 2017 - 07:43

Currently we are @ 86.86 and just breaking through the 1.618 Fibo.  This is a continuation of our January Pay Your Mortgage trade stated at 84.50.  We are looking for a move to the 2.270 Fibo top @ 86.67.  The average daily true range (ATR) for the pair currently is 73 pips.

$GBPAUD–channel continuation?
Wednesday, January 18, 2017 - 07:37

Currently we are @ 1.6270 and in a channel.  We are looking for a move to the 0.214 Fibo @ 1.6143 and then a continuation to the 1.6004 later this week. The average daily true range (ATR) for the pair currently is 180 pips

Pay Your Mortgage Trade Idea for January 2017 UPDATE
Pay Your Mortgage Trade Idea for January 2017 UPDATE
Saturday, January 14, 2017 - 11:24

We started this trade on January 4th at around 84.50 looking for an overall target of 89.86 ( 493 pips potential not counting pullbacks).  We have progressed to the first major resistance at 87.73 which means we are up 323 Pips- about 2/3rds of the way to our target.  This resistance could create a significant pullback as it is a double top and the R5 of this 5th wave.  So a pullback here means move stop fairly tight as the pair may not be able to push into the new territory.  No need to give back a bunch of pips – you can always reenter.  A pull back would allow you to add to this position and then on the break of the double top add a position for the 1.270 Fibo @ 88.55 in route to the overall target.

 

Hope this has been a good opportunity for you.

 

In HIS Grip!

Scott Barkley

Target Trading in the Forex week of January 15th
Target Trading in the Forex week of January 15th
Target Trading in the Forex week of January 15th
Target Trading in the Forex week of January 15th
Saturday, January 14, 2017 - 09:08

Note: January 16th is Martin Luther King Day in the USA – Bank Holiday!

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.0644 in a large channel in a range.  We are looking to continue working this channel up and down to the range top @ 1.0796.  The average daily true range (ATR) for the pair currently is 104 pips.

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$USDJPY                                                                                                                   

What ProAct Forex Target Traders See:  We are currently sitting @ 117.47.  We are looking to initially move to the S6 @ 112.50 and correct there before resumption to the bottom @ 111.38.  The average daily true range (ATR) for the pair currently is 130 pips.

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Cable is currently @ 1.2188.  We are in a large range.   If we can break the slope resistance around 1.2300 we are looking to move to the 0.214 Fibo @ 1.2556 area.  The average daily true range (ATR) for the pair currently is 119 pips.

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

What ProAct Forex Target Traders See:  Aussie is @ 0.7503 and finished with the cup and handle pattern.  By rights we should move to the 0.382 Fibo @ 0.7300.  But USDX pressure may push it higher and if wo we are looking to the 0.7659 area if that happens. The average daily true range (ATR) for the pair currently is 63 pips.

#56th of the top 100 Financial blogs
Friday, January 13, 2017 - 14:41

ProAct Traders was awarded a prestigious award as one of the top financial blogs in the world (we were #56) in 2016.  Click here to see the criteria

$AUDJPY–channel continuation?
Thursday, January 12, 2017 - 07:38

Currently we are @ 85.83 and in a channel.  This is our Pay Your Mortgage trade for January and are looking for a move to the 1.270 Fibo @ 86.28 and then a continuation to the 86.75 later this week. The average daily true range (ATR) for the pair currently is 83 pips.

$EURUSD–Pennant break?
Wednesday, January 11, 2017 - 07:44

Currently we are @ 1.0506 and out of a pennant in a down channel.  We are looking for a move to the 0.214  Fibo @ 1.0463 and then a continuation to the 1.0372 later this week. The average daily true range (ATR) for the pair currently is 96 pips.

$AUDNZD–channel break?
Tuesday, January 10, 2017 - 07:35

Currently we are @ 1.0530 and out of a well-built down channel.  We are looking for a move to the 1.618  Fibo @ 1.0585 and then a continuation to the 1.0700 later this week. The average daily true range (ATR) for the pair currently is 60 pips.

December Pay your Mortgage Trade UPDATE
December Pay your Mortgage Trade UPDATE
Monday, January 9, 2017 - 16:30

Started this trade on December 6th. 2016 - it is still going our way so we have not exited.  Plus 491 pips not counting add ons.  Here are the two screenshots.

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