WaveRidr

WaveRidr

Long GBPUSD. it has been a few months since a good opportunity to trade the cable has arisen. Daily and 4 hour charts have gone bullish with an incomplete sequence developing with the new highs this week. The daily chart is suggesting 1.35 as a likley target before a significant fall all the way to parity might follow! The GBP remains highly correlated with...

WaveRidr

the aussie has shot up against all currencies and has produced an incomplete sequence suggesting that significantly higher prices are likely. To take a trade we need to see a significant pullback against the trend, this AUDJPY would appear to offer the best prospects, the recent rise was impulsive and looks potentially over extended. I would like the pullback to...

WaveRidr Updated 

A large correction has unfolded as the price made it to the extreme level marked on the chart with yellow W. This correction gives us two ways to measure the turning area. The first from yellow W to Red W-x gives the large purple buying area, the stoploss here is too great to consider the trade. The smaller blue buying area is measured from the yellow X to Red X...

WaveRidr

Not much to say, you can't over analyse ETH or BTC. Buy with you gut. Buy because of a genuine passion for crypto

WaveRidr

The power of the CAD continues everywhere and finding a good pullback to trade is the key. The CADJPY has the best sequence at higher degree having made a new high and appearing to trace out a textbook 5 wave advance (yes thats the one i say never happens). Commodities seem to remain supported and the commodity pairs have a great chance of continuing higher. ...

WaveRidr Updated 

Buying the yen pairs remains an attractive proposition and each time one begins to pullback it offers the prospect of a trade. This AUDJPY has begin to pullback and may complete that pullback in 3 waves as it reaches the blue buying area. It is not the ony yen pair i am tracking so it may not be taken if one of the others looks more promising at the time Blue...

WaveRidr

The mantra continues 'Buy the dips in the Yen Pairs' a significant drop in the USDJPY has lead to many of the yen pairs beginning a correction lower, as the commodity currencies are benefiting from surging commodity prices I am looking to catch the end of their pullbacks, This AUDJPY has the best structure with a 3 wave correction currently playing out. A note...

WaveRidr

The trade of the year continue, buying the dips in the yen pairs. It seems not to matter which one you buy or when just as long as you do not buy the yen chances are you will make money. For this sytem we have to wait for a pullback and a 3 wave pullback has developed here, entry will triggered if price moes into the blue box and stop loss will be set to allow...

WaveRidr

The CAD is approaching its make or break day, an 80% chance of a rate hike has been priced in by the market, if that does not happen this trade is likely to get stopped out. If it does happen expect them to extend lower possibly in an impulsive and sharp manner. As always the blue box is the area a turn lower for resumption of the major trend may occur and I...

WaveRidr

Buy oil, the buy zone is marked and as you can see the previous sell zone worked well.

WaveRidr

The EURCAD reacted nicely the last time it moved into an inflection zone and pushed down (first Blue box). The longer term chart is calling for lower prices, significantly so. With all of the commodities starting to suggest that their consolidation and period of deviation is coming to an end, the prospects for the commodity currencies is growing. The Bank of...

WaveRidr

The long triangular consolidation in gold may be coming to an end, all patterns end eventually. The inflection zone sits just above the trendline marking the bottom of the triangle which means I will wait for a clear signal before opening the trade. The Fed will clearly have an impact on this trade and i will not take it close to a fomc or an NFP, caution is the...

WaveRidr

Selling the US Dollar, the dollar has been strong for some time however the run higher is beginning to look extended across a number of pairs. The USDJPY is shown here, i expect it to top out around 115 and intend to use that figure as timing for trades on other pairs. The Yen is likely to remain weak but the 115 area may be reached at the same time as the...

WaveRidr

Long AUDCAD: Aussie Dollar is looking strong everywhere even against its highly correlated cousins the Kiwi and the Loonie. With AUDNZD already being risk free and half profit booked we can consider this opportunity, the measured target comes in just below the trend line, no doubt a trap for many technical traders. An incomplete bullish sequence means I am only...

WaveRidr

Long CHFJPY: Buy the dips in the Yen pairs, the monetary policy situation in Japan means this basic strategy will continue to pay dividends. The CHFJPY has an incomplete bullish sequence meaning it is likely to push higher, the trend is clear and a potential three wave pullback is forming. I will need to see stochastics re set and price move into the buyng...

WaveRidr

Aussie looking extremely low. Commodities looking close to their extremes. Daily chart at the bottom of a long-term triangle and in an inflection point for the move lwer. Crossmarket the NZD is showing it is near the extremes against all of its major counterparts implying it may run out steam.

WaveRidr Updated 

We bought the pullback during the US session at 84.35 after some nice consolidation. Aiming for 90

WaveRidr

I'm too inpatient to do write ups like this for all my posts. Just trust there's more in my analysis than the simple charts I post on here :) AUDUSD appears to have turned earlier than expected, it is the best performing currency of the month and despite the problems with a credit downgrade for its banks it appears to be gaining momentum again. Commodities...