Scott Barkley's Blog – October 2013 Archive (23)

$CADJPY- Wedge Break?

Currently we are at 94.03 trading in a big sideways move.  We are looking for a bullish continuation to the Resistance  area @ 94.70.  The average daily true range (ATR) for the pair currently is 88 pips.

Added by Scott Barkley on October 31, 2013 at 1:13pm — No Comments

$GBPUSD- turning?

Currently we are at 1.3765 after putting in a top.  The Trend is your friend till it bends and we are bending.  Look for the square up at 1.3710 as the next target down.  The average daily true range (ATR) for the pair currently is 113 pips.

Added by Scott Barkley on October 30, 2013 at 1:03pm — No Comments

$AUDUSD- Wedge Break?

Currently we are at 94.93 after the break of the day chart trend line.  We are looking for a continuation to the 0214 Fibo area @ 0.9444 and 2) the next target the S5 wave target @ 0.9384.  The average daily true range (ATR) for the pair currently is 77 pips.…

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Added by Scott Barkley on October 29, 2013 at 1:07pm — No Comments

$GBPAUD- Wedge Break?

Currently we are at 1.6850 at a bounce point.  A couple of different scenarios.  1:  bullish: a move above 1 .6882 would signal a continuation to the Resistance@ 1.6987 area) 2: Bearish : A break down here would prove the current possible head and shoulders pattern is real and would set up a nice move back to the R3 @ 1.6789.  The average daily true range (ATR) for the pair currently is 131 pips.…

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Added by Scott Barkley on October 28, 2013 at 1:02pm — No Comments

$USDCAD- near top?

Currently we are at 1.0439 at the end of the third wave. This is a 2 part trade opportunity.  1) We are looking for a bullish continuation to the resistance area @ 1.0469 and 2) the next target the R4 @ 1.0503.  The average daily true range (ATR) for the pair currently is 47 pips.…

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Added by Scott Barkley on October 25, 2013 at 1:04pm — No Comments

$USDCHF- Continuation?

Currently we are at 0.8910.  We are looking for a bearish continuation to the -0.618 (1.618) Fibo area @ 0.8834.  The average daily true range (ATR) for the pair currently is 75 pips.

Added by Scott Barkley on October 24, 2013 at 1:13pm — No Comments

$USDJPY- break through?

Currently we are at 97.42 after the break of the wedge.  Now we are sitting on a day chart diagonal and if we break through we are looking for continuation to the S5 – double bottom area @ 96.70.  The average daily true range (ATR) for the pair currently is 80 pips.…

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Added by Scott Barkley on October 23, 2013 at 1:04pm — No Comments

$GBPJPY- run to the top?

Currently we are at 158.67 and looking for a  break north. This is a 2 part trade opportunity.  1) We are looking for a bullish continuation to the  1.2700 Fibo area @ 159.23 and 2) the next target the top and 1.618 fibo  @ 159.81.  The average daily true range (ATR) for the pair currently is 88 pips.…

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Added by Scott Barkley on October 22, 2013 at 12:58pm — No Comments

$CADJPY- Wedge Break?

Currently we are at 95.41.  If we negate the head and shoulders pattern we are looking for a bullish continuation to the Resistance @ 95.90. The average daily true range (ATR) for the pair currently is 88 pips.

Added by Scott Barkley on October 21, 2013 at 1:02pm — No Comments

$EURAUD- Wedge Break?

Currently we are at 1.4168  in a descending wedge.  If it breaks down we are looking for a continuation to the 1.618 Fibo area @ 1.4122  and maybe to the 1.4074 ( 2.270 fibo),  The average daily true range (ATR) for the pair currently is 126 pips.…

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Added by Scott Barkley on October 18, 2013 at 1:09pm — No Comments

$AUDUSD- At the Top?

Currently we are at 0.9626 after taking out the target.  We are at the confluence of the Trend, Channel and Resistance.  We are looking for a correction to the channel bottom area @ 0.9581.  The average daily true range (ATR) for the pair currently is 72 pips.…

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Added by Scott Barkley on October 17, 2013 at 1:33pm — No Comments

$GBPJPY- Wedge Break?

Currently we are at 157.74 after the break north of the symmetrical wedge.  We are looking for a bullish continuation in the channel to the R5 area @ 158.50.  The average daily true range (ATR) for the pair currently is 146 pips.

Added by Scott Barkley on October 16, 2013 at 1:08pm — No Comments

$GBPUSD- Flag Break?

Currently we are at 1.5934 after the break of the bear flag.  This is a 2 part trade opportunity.  1) We are looking for a bearish continuation to the S5  @ 1.5881 and 2) the next target the support @ 1.5826.  The average daily true range (ATR) for the pair currently is 102 pips.…

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Added by Scott Barkley on October 15, 2013 at 12:55pm — No Comments

$EURCAD- Wedge Break?

Currently we are at 1.4087 after the break above the 1.4100 Psychological level.  This is a 2 part trade opportunity.  1) We are looking for a bullish continuation to the day chart top area @ 1.4141 and 2) the next target the 5th wave R4  @ 1.4181.  The average daily true range (ATR) for the pair currently is 83 pips.…

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Added by Scott Barkley on October 11, 2013 at 12:48pm — No Comments

$NZDUSD- Wedge Break?

Currently we are at 0.8256 after the break south of the wedge.  We are looking for a bearish continuation to the support area @ 8200.  The average daily true range (ATR) for the pair currently is 89 pips.

Added by Scott Barkley on October 10, 2013 at 12:49pm — No Comments

$USDCHF- Reversal?

Currently we are at 100.17 after the break north of the down trend.   We are looking for 2 possibilities: 1)a bullish continuation to the 0.9150  and 2) a pullback first (more likely due to its ATR) and then a run to the 0.9150. The average daily true range (ATR) for the pair currently is 110 pips.…

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Added by Scott Barkley on October 9, 2013 at 12:56pm — No Comments

$GBPJPY- Wedge Break?

Currently we are at 156.52 after the bounce north on the day chart trend.  We are looking for a bullish continuation to the R3 area @ 100.55-73 and 2) the next target is the R4  @ 157.74.  Watch for a stall near 157.40-50.  The average daily true range (ATR) for the pair currently is 135 pips.…

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Added by Scott Barkley on October 8, 2013 at 1:00pm — No Comments

$GBPCHF- Trend Bounce?

Currently we are at 1.4536 after an a-B-C correction to the trend wall.  We are looking for a bullish continuation of the 5th wave initially to the 1.4620 area.  The average daily true range (ATR) for the pair currently is 110 pips.

Added by Scott Barkley on October 7, 2013 at 1:05pm — No Comments

$GBPUSD – Will it bounce?

Currently we are at 1.6054 after the break of the channel.  We are looking for a continuation to the.0214 Fibo area @ 1.6010-20 and we should see a bounce there back to 1.6160. The average daily true range (ATR) for the pair currently is 103 pips.…

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Added by Scott Barkley on October 4, 2013 at 12:45pm — No Comments

$CADJPY- Wedge Break?

Currently we are at 94.46 in a bear flag which is bearish for the cross.  We are looking for a bearish continuation to the S5 area @ 93.73.  The average daily true range (ATR) for the pair currently is 86 pips.…

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Added by Scott Barkley on October 3, 2013 at 12:45pm — No Comments

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