Scott Barkley's Blog – December 2012 Archive (22)

$GBPUSD –reverses

Currently we are at 1.6257  and have just broken out of the downtrend.   The target is the 1.6300 after a pullback to the .382 Fibo @ 1.6216. The big target is the R5 Top  at the 1.6450. The ATR (Average True Range) for the pair currently is 57 pips.…

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Added by Scott Barkley on December 31, 2012 at 5:31pm — No Comments

Target Trading in the Forex upcoming week of Dec 30th ,2012

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.3222  in a retracement.  Looking for the bounce around 1.3100  and then we are bullish up to 1.3400.  A pullback or reversal that breaks the 1.3150 would invalidate this. The average daily true range (ATR) for the pair currently is 77 pips. …

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Added by Scott Barkley on December 29, 2012 at 5:18pm — 1 Comment

$EURCAD reversal?

Currently we are at 1.3161 after 5 waves to the top.  Look for an A-B-C  pullback and then MAYBE  a go at the top again.   The target area down  is the support  cluster (S3/.382 fibo) @ 130.50.  The average daily trading range (ATR) is 69 pips.…

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Added by Scott Barkley on December 28, 2012 at 3:02pm — No Comments

$GBPJPY more left?

Currently we are at 139.01 and have just Fibonacci extension) @ 140.03.  Look for a pullback and then a go at it.   The average daily trading range (ATR) is 101 pips.broken the 01.270 Fibonacci extension  level to the north.   The target area is the resistance cluster (Day top/1.618 fibo) @ 140.03.…

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Added by Scott Barkley on December 27, 2012 at 2:52pm — No Comments

Target Trading in the Forex upcoming week of Dec 24th ,2012

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.3175  after a breakout of the uptrend.  If the move does not prove to be a false breakout we will look for a retrace to the 0.786 Fibo @ 1.2969.  If we do move back into the trend ( this is an a-b-c move) we will look to the resistance  @ 1.3351.   We are bearish below 1.3143. The average daily true range (ATR) for the pair currently is 80 pips. …

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Added by Scott Barkley on December 22, 2012 at 2:33pm — No Comments

$AUDUSD continues fall

Currently we are at 1.0429 and have just broken the 0.786 Fibonacci level to the south.   The target area is the support @ 1.0357-1.0384.  Look for consolidation there.   The average daily trading range (ATR) is 53 pips.

Added by Scott Barkley on December 21, 2012 at 2:13pm — No Comments

$GBPCHF wedge

Currently we are 1.4825 and have just bounced on the ascending wedge support.   The target area on the wedge break is the support cluster (support/S5) @ 1.4691-1.4720.  The big target is the1.270 Fibo extension @ 1.4665.   The average daily trading range (ATR) is 71 pips.…

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Added by Scott Barkley on December 20, 2012 at 2:05pm — No Comments

$USDJPY wedge

Currently we are at 84.54 and have just broken the ascending wedge  on the 1.270 Fibonacci level to the north.   The target area is the resistance cluster ( Resistance/R6/1.618 Fibonacci extension) @ 85.17-85.53.  The average daily trading range (ATR) is 55 pips.…

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Added by Scott Barkley on December 19, 2012 at 2:12pm — No Comments

$NZDJPY bounce

Currently we are at 70.62  and looking to see if we get a bounce  on the 0.214 Fibonacci level to the north.   The target area is the resistance cluster 1.270 Fibonacci extension @ 71.60.  The big target is the1.618 Fibo extension @ 72.48.   The average daily trading range (ATR) is 61 pips.…

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Added by Scott Barkley on December 18, 2012 at 2:00pm — No Comments

$EURAUD Poised to move

Currently we are at 1.2497in a rectangle pattern to the north.   The target area is the R4@ 1.2517.  The next target is the double top @ 1.2546.   The average daily trading range (ATR) is 72 pips.

Added by Scott Barkley on December 17, 2012 at 2:08pm — No Comments

Target Trading in the Forex upcoming week of Dec 16th ,2012

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.3172  after an impressive upside move.  We are right at the day chart trend line so traditional wisdom says look for the bears.  We are not so sure!  Wave 2 was very shallow so that may lend credibility that this is only wave 3 of the up move so it is prudent to prepare for a breakout and trade the longs or the short once it is proven.  Expecting a pullback at current levels and then continuation to the upside…

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Added by Scott Barkley on December 15, 2012 at 3:31pm — 1 Comment

$NZDUSD tops out

Currently we are at 0.8409 and have just stalled on the 0.382 Fibonacci level after printing a head and shoulders and then  breaking out of the well-established up-trend.   The target area is the former top @ 0.8355.  The big target is the support cluster @ 0.8319.   The average daily trading range (ATR) is 53pips.…

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Added by Scott Barkley on December 14, 2012 at 2:17pm — No Comments

$NZDUSD going and going

Currently we are at 0.8456 and have just broken the Ascending wedge to the north.   The next target area is the 1.270 Fibonacci extension @ 0.8491.  The big target is the R5@ 0.8550.   The average daily trading range (ATR) is 53 pips.

Added by Scott Barkley on December 13, 2012 at 2:17pm — No Comments

$AUDJPY 5th wave top?

Currently we are at 87.44 after taking out our target from yesterday.  We are in the 5th wave and seeking the top.   The first target area is the 1.618 Fibonacci extension @ 87.73.  The big target is the Day chart top @ 88.65.   The average daily trading range (ATR) is 65 pips.…

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Added by Scott Barkley on December 12, 2012 at 2:02pm — No Comments

$AUDUSD bounces

Currently we are at 1.0502 and have just bounced on the 0.214 Fibonacci level and the top of the ascending wedge to the north.  The target area is the resistance cluster (Resistance/R5) @1.0537.  The big target is the TOP @ 1.0613.   The average daily trading range (ATR) is 58 pips.…

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Added by Scott Barkley on December 11, 2012 at 2:23pm — No Comments

$EURUSD bounces

Currently we are at 1.2932 and have just bounced on the 0.500 Fibonacci level to the north.   The target area is the S3 and Trend wall  @1.3000.  This will complete the ABC pattern and will expect a move then back to the double bottom @ 1.2869.  The big target is the 0.786 Fibo / S5 @ 1.2748.   The average daily trading range (ATR) is 74 pips.…

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Added by Scott Barkley on December 10, 2012 at 2:05pm — No Comments

Target Trading in the Forex upcoming week of Dec 9th ,2012

$EURUSD

What Forex Target Traders See:  We are currently sitting @ 1.2927  after a bounce on the .500 fibo.  Expecting a bounce and then continuation to the downside first to the support @ 1.2869.   We are bearish below 1.3000 and waiting for the pullback to finish. A break of the .618 Fibo and we should see downward traction to the confluence of the S5 and .86 Fibo @ 1.2750 area. The average daily true range (ATR) for the pair currently is 74 pips. …

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Added by Scott Barkley on December 8, 2012 at 2:53pm — No Comments

$AUDUSD testing a break

Currently we are at 1.0493 and just now above the resistance level to the north.   The target area is the resistance cluster ( Resistance/R5/1.618 Fibonacci extension) @ 1.532-1.0537.  The big target is the1.270 Fibo extension @ 1.0581.   The average daily trading range (ATR) is 66 pips.…

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Added by Scott Barkley on December 6, 2012 at 2:03pm — No Comments

$NZDJPY break?

Currently we are at 67.81 and just under the R5 resistance  level to the north.   The target area is the - 0.270 Fibonacci extension @ 65.85.  The big target is the-0.618 Fibo extension/resistance  @ 69.20.   The average daily trading range (ATR) is 69 pips.…

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Added by Scott Barkley on December 5, 2012 at 1:54pm — No Comments

$AUDUSD - break?

Currently we are at 1.0481 and just under  a resistance  level.  A break here to the north and the target area is the resistance cluster (Resistance/R4/) @ 1.0537.  The big target is the 5th wave R5 resistance @ 1.0613.   The average daily trading range (ATR) is 66 pips.…

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Added by Scott Barkley on December 4, 2012 at 2:10pm — No Comments

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