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GBCHF Range trade

Bearish:  We are currently @ 1.2148 in a range after putting in a double top at the range top. IF we can break this support, we are looking for a move down to the ATR Target @ 1.2059 area. We should get a reaction there.  A continuation would target the 0.382 Fibo @ 1.2019.  Watch the USDX for any change in direction. The ATR for the pair currently is 86 pips per day. 

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GBPAUD channel trade

Bearish:  We are currently @ 0.8915 in a range. We are looking for a move down to the ATR Target @ 1.7600 area. We should get a reaction there.  A continuation would target the 0.786 Fibo @ 1.7496.  Watch the USDX for any change in direction. The ATR for the pair currently is 121 pips per day. 

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EURGBP channel trade

Bullish to Bearish:  We are currently @ 0.8915 in a channel. We are looking for a move to the ATR Target @ 0.8954 area. We should get a reaction there.  A break out or a channel continuation.  Watch the USDX for any change in direction. The ATR for the pair currently is 62 pips per day. 

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This is what I see in the Forex the week of January 18th , 2021: USDX, EU,UJ,GU,AU

Note: USDX: Bullish: We are in a channel. We have the possible start of divergence in play for the down move.  The Question is : is this an ABC for the sell or a 123 for the 5 waves up? ATR’s overall are higher than last week except for the GBPUSD (-20) and will change again on Sunday – use as a reference. BE SMART - TRADE WITH STOPS!!!!

 

Monday is a USA Bank Holiday – Markets will be dead.

$EURUSD

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What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex
What I See in the Forex

Great article

Thanks to Robert B

 

Risk Control Rules That Let You Trade Forever

AUDUSD Range trade

Bearish:  We are currently @ 0.7755 in a range. We are looking for a move to the ATR Target @ 0.7642-55 area. Watch the USDX for any change in direction. The ATR for the pair currently is 85 pips per day. 

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GBPCHF Topping out

Bullish to Bearish:  We are currently @ 1.2152 in a range. We are looking for a move to the ATR Target @ 1.2225 area. The shorter Target are the Tops @ 1.2201 area. Watch for the reversal at one of those targets. Watch the USDX for any change in direction. The ATR for the pair currently is 109 pips per day. 

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GBPAUD Channel Trade

Bullish:  We are currently @ 1.7612 in a well-built channel. IF we can break this resistance we are looking for a move to the ATR Target @ 1.7700 area. The Further Target is the R5 @ 1.7800 area. Watch the USDX for any change in direction. The ATR for the pair currently is 123 pips per day. 

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