Don't make this mistake
Added by Scott Barkley on October 31, 2011 at 6:11pm — No Comments
Currently the cross is @0.8126 after a strong correction during the London session. The cross has built a bear flag and we should further correction to the ..618 Fibo @ 0.8040. Once the bounce is in the Target is the double top @ 0.8243. Further target is at the .270 Fib Extension @ 0.8332.…
ContinueAdded by Scott Barkley on October 31, 2011 at 1:03pm — No Comments
$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.4158 just above the R7. It is rare for the cross to go past this level but it is looking very bullish. This means we could have some more upside potential so will look for this to follow through this week. Target to the upside is the 0.270 Fib Extension @ 1.4552. On a break down look to break to the .382 Fibo @ 1.3830 area. The average daily trading range for the cross currently is 179…
ContinueAdded by Scott Barkley on October 29, 2011 at 2:45pm — No Comments
Currently the cross is @0.8621 after hitting our target yesterday. The cross has built a bear flag and we should see an assault on the .786 Fib extension @ 0.8585 and then the 0.8551. Further target is at the S6 @ 0.8459.…
ContinueAdded by Scott Barkley on October 28, 2011 at 1:14pm — No Comments
Just one of 6 trades in the live NY session training room got this trade today + 85pips
others:
AUDUSD +34
GBPUSD +52
USDCHF +45 and still in
EURGBP Still in @ Break even
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ContinueAdded by Scott Barkley on October 27, 2011 at 4:51pm — No Comments
Currently the cross is @1.0650 after a nice ride during the London. The cross has broken the R5 and his taken out the 1.270 target. We should see some consolidation here before an assault on the R6 @ 1.0768. Of course it could just keep on going but we have had not pullbacks at all so expect some profit taking.…
ContinueAdded by Scott Barkley on October 27, 2011 at 1:29pm — 2 Comments
Currently the cross is @.8759. The cross has broken the descending wedge and is poised to continue this downward move which is bearish. We do have some divergence in the cross which is Bullish for the cross so we expect that once the target is hit we will bounce pretty hard.. We have a strong support point at the S5 ( .8708) which will provide a good bounce point back to the S4 @ .8849. …
ContinueAdded by Scott Barkley on October 26, 2011 at 12:58pm — No Comments
Currently the cross is @1.0478. The cross has tested the R6 and is poised to continue this upward move which is bullish. We do have some divergence in the cross which is bearish for the cross. We have a strong resistance point at 1.0515 which will need to be broken to continue the continued climb to the 1.270 Fib Extension @ 1.0595. If bears win look for the return to the .382 Fibo @ 1.0326. …
ContinueAdded by Scott Barkley on October 25, 2011 at 1:10pm — No Comments
Currently the cross is @0.8863. The cross has broken through the S5 and is just above the top .786 Fibo. We have a bear flag on the 60 minute chart indicating further bearish bias. We look to continue to the .786 Fibo @ 0.8791 and then the S6@ 0.8708. IF - they bounce up look for the return to the S5 @ .8941.…
ContinueAdded by Scott Barkley on October 24, 2011 at 1:19pm — No Comments
$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.3897 just above the .trend line from the day chart. This break could provide some more upside potential so will look for this to follow through this week. Targets to the upside are the R5 @ 1.4032 and the -270 Fib Extension (R7) @ 1.4124. On a break down look to break to the .500 Fibo @ 1.3531 area. The average daily trading range for the cross currently is 170…
ContinueAdded by Scott Barkley on October 22, 2011 at 1:58pm — 1 Comment
Currently the cross is @1.3796. The cross has bounced on the bottom trend wall and is just below the top wedge line. Expecting the bulls to win this one BUT it is a square up day! A break north look to continue to the .500 Fibo @ 1.3850 and then the R4@ 1.388. IF - they square up look for the R1@ 1.3707.…
ContinueAdded by Scott Barkley on October 21, 2011 at 1:19pm — No Comments
Currently @ 9859. The cross has broken out of the bear flag and sitting on major support. A break of this targets the 0.8893 support with further targets at the S4 @ 0.8846. A bounce targets a move back to the S1 @ 90.32 is possible today. We are bearish on the cross today.…
ContinueAdded by Scott Barkley on October 20, 2011 at 1:20pm — No Comments
Currently the cross is @0.9015. The cross has bounced on the bottom trend wall and is at the heart line of the downtrend. Expecting the bounce to continue to the .500 Fibo @ 0.9098 and then the .618 Fibo @ 0.9149. A move to the downside would target the S5 @ 0.8947.…
ContinueAdded by Scott Barkley on October 18, 2011 at 12:58pm — No Comments
Currently the cross is @1.5778. The cross has bounced on the .618 fibo after retreating from a double top. Expecting the bounce to continue ( we are in an uptrend) to the R6 @ 1.5879 and then the .270 Fib extension @ 1.5903. A move to the downside would target the trendline near the .785 fibo @ 1.5706.…
ContinueAdded by Scott Barkley on October 17, 2011 at 12:49pm — No Comments
$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.3878 just above the .500 Fibo from the day chart. It appears that we still have some upside potential so will look for this to follow through this week. Targets to the upside are the .382 Fibo @ 1.4016 (also day chart resistance so it could turn it) and the -270 Fib Extension @ 1.4097. On a breakout look to break to the .500 Fibo @ 1.3521 area. The average daily trading range for the cross currently is 196…
ContinueAdded by Scott Barkley on October 15, 2011 at 2:41pm — No Comments
Currently the cross is @1.3802. The cross has formed a ascending wedge which is bullish. Expecting a break out and then a continuation to the .270 Fib extension @ 1.3896. Further targets are the 1.618 Fib Extension @ 1.3982 area. Be wary of a double top @ 1.3939.…
ContinueAdded by Scott Barkley on October 14, 2011 at 1:29pm — No Comments
Currently the cross is @0.8981. The cross has broken out of the bear flag and moved to our targets: the bottom trendline and the S5. Expecting a bounce and then a continuation to the double bottom and the day chart trendline @ 0.8920 area.
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ContinueAdded by Scott Barkley on October 12, 2011 at 11:44am — No Comments
Currently the cross is @1.3600. The cross has made a double top. Expecting a continuation to the .382 Fibo @ 1.3488 downside before the bounce. If this area is broken expect a move to the .618 Fibo @1.3357 with further targets @ 1.3314. If the bears fail to break the .382 look for a move back to the 1.3699 area.…
ContinueAdded by Scott Barkley on October 11, 2011 at 1:06pm — No Comments
Note: Monday is a USA and Canada holiday – short week
$EURUSD
WHAT ProAct Traders SEE: We are currently sitting @ 1.3387 just above the .382 Fibo. It appears that we had a strong rejection on the Down Trendline so will look for this to follow through this week. A break of 1.3291 (.618 fibo) will confirm a continued move to the downside until then a bounce is possible to the upside. Targets to the downside are the .786 Fibo @ 1.3228 and the…
ContinueAdded by Scott Barkley on October 8, 2011 at 3:57pm — 1 Comment
Currently the cross is @1.3482 after NFP. The cross has hit the down trendline and poised to break out. Target up is the S7/.786 Fibo @ 1.3565. If the bears win the battle here look for a move to the 1.3350 area. …
ContinueAdded by Scott Barkley on October 7, 2011 at 1:20pm — No Comments
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