Blog Roll

Target Trading in the Forex week of May 15th, 2016
Target Trading in the Forex week of May 15th, 2016
Target Trading in the Forex week of May 15th, 2016
Target Trading in the Forex week of May 15th, 2016
Friday, May 20, 2016 - 15:54

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.1216 we said last w2eek “We are looking to work through the Fibs first to 1.1223”.  We are just below that and a continued downward move targets the 0.618 Fibo @ 1.1072 and the 0.786 Fibo @1.0965.  Be aware a corrective 2 wave has not appeared.  The average daily true range (ATR) for the pair currently is 77 pips.

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$USDJPY                                                                                                                   

What ProAct Forex Target Traders See:  We are currently @ 110.17 out of a nice big flag. We are looking initially for a continuation to the top@ 111.87. The average daily true range (ATR) for the pair currently is 124 pips.

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Cable is currently @ 1.4492 and in a large range. We had a strong reaction to the Brexit but seems to have calmed down now.  If we continue down, we are looking initially to the 0.786 Fibo @ 1.4452 and a continuation to the 0.618 Fibo of the past swing @ 1.4299. The average daily true range (ATR) for the pair currently is 116 pips.

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

What ProAct Forex Target Traders See:  Aussie is @ 0.7224. We are looking for a bounce to complete the C wave @ 0.7280 and then a continuation move down to the bottom @ 0.7122. The average daily true range (ATR) for the pair currently is 98 pips.

May Pay Your Mortgage Trade Idea – Update
May Pay Your Mortgage Trade Idea – Update
May Pay Your Mortgage Trade Idea – Update
Thursday, May 19, 2016 - 17:30

On May 3, 2016 we alerted traders to an opportunity on the GBPCHF that we call “Pay Your Mortgage” for the month of May. The idea is to give traders a heads up on a big play that may happen based on the current structure.

Currently the trade is up 621 pips from our bounce point and we are projecting a possible 331 pips to go.  IF the trade completes at our new target it will have produced 952 Pips in only 16 days.

We use tried and true technical analysis to arrive at what we think may be an excellent opportunity for traders.  It is not a trade call, just a heads up that the market structure shows this potential in advance of actually happening.

Take a look at the 3 graphics:  The first is the current chart and the first two were are charts that we posted before the move.

Enjoy!

$USDCAD– last target?
Thursday, May 19, 2016 - 07:55

Currently we are 1.3138 in a large range. We hit our first target @ 1.3060 and looking for continuation to the range top around 1.320. Watch for the correction there. The average daily true range (ATR) for the pair currently is 111 pips.

$AUDCHF– bottom and more?
Wednesday, May 18, 2016 - 07:57

Currently we are 0.7134 in a large range. We are looking to break down to the former bottom @ 0.7060 with a possible continuation to the 1.270 Fibo @ 0.7015. The average daily true range (ATR) for the pair currently is 97 pips.

$USDJPY– rectangle break?
Tuesday, May 17, 2016 - 07:41

Currently we are 109.46 in a large range and attempting a rectangle break. We are looking to break up to the 0.214 Fibo @ 110.56.  Watch the USDX for signs of weakness at the end. The average daily true range (ATR) for the pair currently is 124 pips.

$EURNZD– channel?
Monday, May 16, 2016 - 07:56

Currently we are 1.6668 in a large range and channel. We are looking to break down to the 0.382 Fibo @ 1.6554 either now at the 0.618 Fibo or after a move to the top of the channel around 1.6727. The average daily true range (ATR) for the pair currently is 197 pips.

Target Trading in the Forex week of May 15th, 2016 EU,UJ,GU,AU
Target Trading in the Forex week of May 15th, 2016 EU,UJ,GU,AU
Target Trading in the Forex week of May 15th, 2016 EU,UJ,GU,AU
Target Trading in the Forex week of May 15th, 2016 EU,UJ,GU,AU
Friday, May 13, 2016 - 20:05

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.1311 after the reversal we anticipated last week.  We are looking to work through the Fibs first to 1.1223 then 1.1148 and finally 1.1072.  However, a second wave in not printed which means we could bounce first (look to the 0.382 Fibo) before all of this.  The average daily true range (ATR) for the pair currently is 77 pips.

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$USDJPY                                                                                                                   

What ProAct Forex Target Traders See:  We are currently @ 108.65 in a nice flag. We are looking initially to the 0.214 Fibo @ 110.56 with a continuation to the top@ 111.87. The average daily true range (ATR) for the pair currently is 124 pips.

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Cable is currently @ 1.4369 and in a large range. We have buried the upside bias and now looking initially to the 0.618 Fibo @ 1.4299 and a continuation to the 0.786 Fibo@ 1.4170. The average daily true range (ATR) for the pair currently is 116 pips.

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

What ProAct Forex Target Traders See:  Aussie is @ 0.7270 and in a 3rd wave. We are looking for a bounce to complete the 4th wave @ the S6/ 0.7110 and then a continuation move down to the bottom @ 0.6733. The average daily true range (ATR) for the pair currently is 98 pips.

$EURGBP– range trading?
Thursday, May 12, 2016 - 07:44

Currently we are 0.7876 in a large range. We are looking to break down to the 0.786 Fibo @ 0.7790 and with a further target to the range bottom @0.7704 area. The average daily true range (ATR) for the pair currently is 57 pips but it pays 40-50% more per pip depending on broker.

$USDCAD– range trading?
Wednesday, May 11, 2016 - 07:46

Currently we are 1.2878 in a large range. West Texas Intermediate is rallying and the USDX is correcting and the result is a chart that looks very close to the USDX (see graphic).  We are looking to continue to the 0.500 Fibo @ 1.2840 and with a further target to the 0.618 Fibo @1.2751 area. The average daily true range (ATR) for the pair currently is 112 pips.

$GBPUSD– Bounce?
Tuesday, May 10, 2016 - 07:46

Currently we are 1.4447 and attempting a break out of the down channel. We are looking to continue to the 0.382 Fibo @ 1.4524 and with a further target this week to the 1.4617 area. The average daily true range (ATR) for the pair currently is 120 pips.

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