Is it GBP Selling Time ?(18/08/2014)

The Great Britain Pound has been on a declining mode over the past weeks. A recovery that has been observed today provides potentially good selling opportunities.

After scanning the markets using the  Trend/Wave/Extreme  indincator we see how the GBP coninues to downtrend and how the wave and extremes have reached up overbought conditions.

twx 20140818

GBPUSD (H4) SELL

GBPUSD 20140818

The Trend/Wave/Extreme mini indicator is showing us

  • The Trend Bar is Red filled pointing Down Trend
  • Wave and Extreme Bars are Up Overbought pointing an up correction that may be ending
  • A very solid down trend line.
  • 2 consecutive down candles
  • The correction so far has been 60 pips

EURGBP (H4) BUY

EURGBP20140818

The Trend/Wave/Extreme mini indicator is showing us

  • The Trend Bar is Up Green filled pointing UpTrend
  • Wave and Extreme Bars are Down Red Oversoldt pointing a down correction that may be ending
  • An up trend line.

Note*:  If you are planning on buying this pair wait for two consecutive up candles.

GBPJPY (H4) SELL

A more adventurous trade on pair that is still correcting.

GBJPY 20140818

The Trend/Wave/Extreme mini indicator is showing us

  • The Trend Bar is Red filled pointing Down Trend
  • Wave and Extreme Bars are Up Overbought pointing an up correction that may be ending
  • A very solid down trend line.
  • The correction so far has been 100 pip

Note: This pair is still correcting so wait for two consecutive down candles prior to selling.

A likely reversal is about to happen with the 172.00 price being a significant resistance.

EURAUD (H4) SELL

This is a bonus trade which one can jump in now.

EURAUD20140818

 

The Trend/Wave/Extreme mini indicator is showing us

  • The Trend Bar is Red filled pointing Down Trend
  • Wave bar is showing down pointing the momentum and trend are alligned
  • Extremes bar is overbought pointing an up correction that has ended
  • A major down move occured prior to the correction,

Read about the Trend/Wave/Extreme system here

The following is an analysis of the currency markets using the Trend/Wave/Extreme system . You can read about the system here. Please read our Risk Disclosure and Terms of Use  prior to making a trade using this information.