Blog Roll

$EURGBP – corrective pattern?
Wednesday, December 7, 2016 - 07:49

Currently we are 0.8505 in a c wave.  We are looking for the corrective more to finish and then a continuation move to the bottom @ 0.8340.  Depending on your broker this pair pays 27-35% more than the EURUSD.  The average daily true range (ATR) for the pair currently is 86 pips

December Pay Your Mortgage Trade Setup Idea
Tuesday, December 6, 2016 - 13:03

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

 

I see that we are just finishing a 4th corrective wave and anticipating the 5th wave to the downside. We already have a head and shoulder reversal pattern in place and there is divergence on the 60-min chart. The size of the range (1.2832- 1.2092) is 740 pips. There is also a square up below the lower target that could add an additional 92 pips to the total. 

 

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 break of the slope support and a break of the 0.214 Fibo @ 1.2716.  Take your first entry on the formation of a “break, hook and go”  below the Slope support and use the respective risk reward ratio to start trading this currency pair. Wait for Rallies to add to this 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.  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 (Average True Range) of the currency is 130 Pips per day, so this might take about 1 1/2 - 2 weeks!

 

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.

$EURAUD – nice big range?
Tuesday, December 6, 2016 - 07:35

Currently we are 1.4396 in a channel and a range.  We are looking for a continuation move to the bottom @ 1.4169. The average daily true range (ATR) for the pair currently is 110 pips.

Target Trading in the Forex week of Dec 4th , 2016 EU,UJ,GU,AU
Target Trading in the Forex week of Dec 4th , 2016 EU,UJ,GU,AU
Target Trading in the Forex week of Dec 4th , 2016 EU,UJ,GU,AU
Target Trading in the Forex week of Dec 4th , 2016 EU,UJ,GU,AU
Sunday, December 4, 2016 - 19:40

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.0566 after a breakout of a symmetrical triangle which is bearish for the pair. A couple of different scenarios:  1:  Bullish: a move to the Day chart bottom and a bounce to the 0.382 Area @ 1.0754 and 2: Bearish: A break down to the 1.270 Fibo support @ 1.0348. The average daily true range (ATR) for the pair currently is 83 pips.

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$USDJPY                                                                                                                   

What ProAct Forex Target Traders See:  We are currently sitting @ 113.075 in a channel on the upper side of a trend.  A couple of different scenarios:  1:  Bullish: a move inside the channel to the 1.270 Fibo Area @ 116.83 and 2: Bearish: A 4th wave break down to the 0.214 Fibo support @ 116.38 and a bounce there. The average daily true range (ATR) for the pair currently is 120 pips.

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Cable is currently @ 1.2700 and finally looks to be trending.  WE are looking for a continuation initially to the day chart resistance @ 1.2868 and then a 4th wave correction before resumption to the 1.3196.  The average daily true range (ATR) for the pair currently is 117 pips.

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

What ProAct Forex Target Traders See:  Aussie is @ 0.7434 and trying to a trend. We are caught in a sideways move which should resolve itself to the downside and looking for a 5th wave continuation to the S4 @ 0.7236. The average daily true range (ATR) for the pair currently is 60 pips.

$EURAUD – channel continuation?
Thursday, December 1, 2016 - 07:37

Currently we are 1.4376 in a channel.  We are looking for a continuation move to the range top @ 1.4467 and maybe up to 1.4500. The average daily true range (ATR) for the pair currently is 109 pips.

1 day of Dealers choice alerts
Wednesday, November 30, 2016 - 12:52

If you are a subscriber - this alert system will certainly be worth $1.00 per day!  Just 1 solid trade idea acted on will pay for the alerts for a month! 2 alerts might pay for your charts also

 

Check it out by clicking the graphic to the left - see if they would have been an opportunity for you!

 

Sign up for it here

http://proacttraders.com/content/dealers-choice-subscription

 

$AUDPY – pennant continuation?
Tuesday, November 29, 2016 - 07:47

Currently we are 84.28 in a channel after breaking out of a pennant.  We are looking for a continuation move to the 1.618 Fibo @ 85.03 with an overall target this week of 86.00-86.34. The average daily true range (ATR) for the pair currently is 87 pips.


$NZDJPY – Flag continuation?
Monday, November 28, 2016 - 07:40

Currently we are 79077 in a flag pattern.  We are looking for a continuation move to the 80.61 Flag Target area and then possibly the 1.618 Fibo @ 81.07. The average daily true range (ATR) for the pair currently is 81 pips.

Target Trading in the Forex week of Nov 27th, 2016 EU,UJ,GU,AU
Target Trading in the Forex week of Nov 27th, 2016 EU,UJ,GU,AU
Target Trading in the Forex week of Nov 27th, 2016 EU,UJ,GU,AU
Target Trading in the Forex week of Nov 27th, 2016 EU,UJ,GU,AU
Sunday, November 27, 2016 - 15:28

$EURUSD

What ProAct Forex Target Traders See:  We are currently sitting @ 1.0584 near the bottom of the day chart trend. We anticipate a 4th wave correction and then resumption to the target @ 1.0348. 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 @ 113.05.  We anticipate a 4th wave correction and then resumption to the target @ 116.81. The average daily true range (ATR) for the pair currently is 148 pips.

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$GBPUSD                                                                                                                   

What ProAct Forex Target Traders See:  Cable is currently @ 1.2476 and in a large range.  A couple of different scenarios:  1:  Bullish: a move above 1.2500 look to the range top @ 1.2800 area and 2: Bearish: A break below 1.2380 look to the range bottom@ 1.2088. USDX will tell the tale. The average daily true range (ATR) for the pair currently is 126 pips.

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

What ProAct Forex Target Traders See:  Aussie is @ 0.7435 and finally in a trend. We are looking for a 4th wave correction either here or higher at the trend wall and then a continuation to 0.7200. The average daily true range (ATR) for the pair currently is 83 pips.

$AUDUSD - continuation?
Tuesday, November 22, 2016 - 07:51

Currently we are 0.7387 after a nice abc correction.  We are looking for a continuation move to the 0.7311 area and then possibly the trend bottom @ 0.7269. The average daily true range (ATR) for the pair currently is 83 pips.

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