Trend/Wave/Extreme Analysis

Time to buy the US Dollar again 21/05/2013

The US Dollar has been gaining consistently over the previous week against nearly every currency in the board. Yesterday we the saw however the US Dollar pulling back a bit. Possibly some people who were long the USD decided to take their profits. What does this mean for you as a trader ? It is time to buy USD again.


NZDUSD/AUDUSD (4-HOUR) Sell
Why Sell
•A strong downtrend line
•Trend (long term indicators) are pointing down
•One extreme indicators pointing overbought
•Chart pattern shows a bounce has occurred after an upwards correction.

Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.

Buying the Oil.

The rise in Oil stockpiles brought the value of Oil lower continuing its decline over the past couple of days. With the overall trend however being up it’s an opportunity to get in this and buy oil.

Oil (4-Hour) Buy

Why Buy

1. A strong up trend line formation
2. Trend (long term) indicators are pointing up for both the 4-Hour and Daily timeframe
3. Wave (short term) indicators for 4-H and Daily point down being consistent with the trend under 1-H (a shorter timeframe)
4. Extreme indicators under 4-Hour point oversold while neutral under 1-Hour and daily
5. Support was found and bounce occurred after the 38.2% Fibonacci retracement level

Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.

To celebrate our 3 consecutive successful trades we are giving for June free MT4 indicator of the Trend/Wave/Extreme system.
You can get it here.

On Friday (31.05.2013) we pointed a sell trade on USDJPY following a head and shoulders formation. This can be seen here.
Here is how this trade earned us 180pips.

Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.

USDCF(4-HOUR) SELL

Why sell

1. A continuous down trend line
2. Trend (long term) and Wave (short term) indicators are all pointing down
3. None of the Extreme indicators are pointing oversold
4. Two consecutive down candles formed

Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.

And yes we keep on making money .

Check here how our last trade to Sell USDCHF made 115 pips quick.

Read about the Trend/Wave/Extreme system here.

Get your FREE copy of the indicator here.

A while we shorted AUDUSD and bought EURAUD. we shorted the Australian Dollar in general.

AUDUSD

Why sell

1. A continuous down trend line
2. Trend (long term) and Wave (short term) indicators are all pointing down
3. Extreme indicators are pointing overbought
4. Two consecutive down candles formed
5. Distance from the previous low is around 200 pips

Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.

Selling USDJPY/EURJPY

Why sell

1. A down trend line being apparent
2. Trend (long term) are pointing down
3. Extreme Indicators are pointing overbought

Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.

NZDUSD (4-HOUR) BUY
Why Buy

1. An evolving uptrend developing
2. Trend (long term) indicators are pointing up
3. An extreme Indicators pointing oversold
4. Two consecutive up candles
5. Instrument bounced higher after finding support at 50% fibonacci retracement level

Read about the Trend/Wave/Extreme system here

USDCHF is forming a reverse head and shoulders and has support at 38.2% making it a buy opportunity

Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.

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USD has reached oversold region against many currencies making it a good buy opportunity.

Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.

An opportunity to buy EURUSD in approaching

1. the Trend Bar is green filled pointing an Up-Trend
2. There’s a strong upward trend chart pattern
3. Extremes Bar is in the oversold region.

Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.

An opportunity to short USD through EURUSD ,GBPUSD,USDCHF

Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.

An opportunity to short USD through USDCAD arising through a head and shoulders setup

Read more about today's analysis here, and about the Trend/Wave/Extreme system where this analysis is based on here.

Today we are looking at two potential trades involving the GBP. The GBP is a currency that has been falling and we can take opportunitiy of the up correction it showed over the past couple of days.

EURGBP (4 Hour) BUY
Looking at the Trend/Wave/Extreme mini indicator I received an alert about a potential BUY trade at the EURGBP pairhttp://www.theforexcabin.com/wp-cont...P-20140805.png
The Trend/Wave/Extreme mini view indicator is showing us

1. Trend bar is Up Green filled pointing Up Trend
2. Extremes bar is Down Red filled pointing the pair is oversold
3. A solid up trend line chart pattern
4. We can allready see two consecutive bullish candles

It appears that an uptrend finished a down correction and should resume its up movement

GBPUSD (4 Hour) SELL
GBPUSD is a pair that has been dropping non-stop and has significantly retraced over the past couple of days.
http://www.theforexcabin.com/wp-cont...D-20140805.png
The Trend/Wave/Extreme mini view indicator is showing us

1. Trend bar is Down Red filled pointing Down Trend
2. Extremes bar is Up Green filled pointing the pair is oversold
3. A solid down trend line chart pattern

Opportunity to Buy USDCAD

USDCAD (H4) BUY
http://www.theforexcabin.com/wp-cont...D-20140806.png

The Trend/Wave/Extreme mini view indicator is showing us

1. Trend bar is Up Green filled pointing Up Trend
2. Extremes bar is Down Red filled pointing the pair is oversold
3. A solid up trend line chart pattern

*Note: The pair is still in correction mode so wait for two consecutive candles prior to buying as it possible for a reversal to occure here.
Read about the Trend/Wave/Extreme system here

The US Dollar which continues to dominate the Forex markets has exhibited some correction. Therefore we keep an eye for opportuniites to jump back in and buy it.

After performing a quick scan of the markets using the Trend/Wave/Extreme under the 4 Hour timeframe we can see that the USD continues to be strong trending. Neverhteless the wave and extreme indicators are pointing the USD has retraced sufficiently is some pairs.
http://www.theforexcabin.com/wp-cont...x-20140807.png
More specifically we can see USDCFH/USDCAD being Up Trend Oversold and the NZDUSD being Down Trend Overbought.
NZDUSD (H4) Sell
http://www.theforexcabin.com/wp-cont...D-20140807.png
The Trend/Wave/Extreme mini view indicator is showing us

1. Trend bar is Down Red filled pointing Down Trend
2. Extremes bar is Up Green filled pointing the pair is becoming overbought
3. A solid down trend line chart pattern

*Note: The pair is still in correction mode so wait for two consecutive candles prior to buying as it possible to move higher prior to dropping.
Read about the Trend/Wave/Extreme system here

EURUSD (H4) Sellhttp://www.theforexcabin.com/wp-cont...D-20140808.png

The Trend/Wave/Extreme mini view indicator is showing us

1. Trend bar is Down Red filled pointing Down Trend
2. Extremes bar is Up Green filled pointing the pair is becoming overbought
3. A solid down trend line chart pattern
4. It has exhibited so far a 70 pips upward correction

*Note: The pair is still in correction mode so wait for two consecutive candles prior to buying as it possible to move higher prior to dropping.
EURJPY (H4) Sell
http://www.theforexcabin.com/wp-cont...Y-20140808.png
The Trend/Wave/Extreme mini view indicator is showing us

1. Trend bar is Down Red filled pointing Down Trend
2. Wave bar is Up showing that the pair is in correction mode
3. A solid down trend line chart pattern
4. It has exhibited so far an 80 pips upward correction

*Note: The pair is still in correction mode and not overbought so wait for two consecutive candles prior to buying as it possible to move higher prior to dropping.
Read about the Trend/Wave/Extreme system here

After performing a quick scan of the markets using the Trend/Wave/Extreme under the 4 Hour timeframe we can see that the JPY crosseses are all pointing down an up wave and in 4 out of 6 times overbought . Therefore this pull back provided chances to sell pair such as EURJPY,AUDJPY,CHFJPY,ANZDJPY. We investigate the first two.
http://www.theforexcabin.com/wp-cont...X-20140811.png


EURJPY (H4) Sell
http://www.theforexcabin.com/wp-cont...-201408081.png
The Trend/Wave/Extreme mini view indicator is showing us

1. Trend bar is Down Red filled pointing Down Trend
2. Extremes bar is Up Green filled pointing the pair is becoming overbought
3. A solid down trend line chart pattern
4. It has exhibited so far a 110 pips upward correction

*Note: Looks like the downtrend has completed an up correciton.