Tradeciety

Aussie setups building up

OANDA:AUDSGD   AUD/SGD
546 0 11
There are quite a few reversal setups building up right now and I wanted to highlight one in particular.

The AUDSGD             has been in the recent uptrend for some time and 1.048 is the bottom of a previous resistance zone . The ultimate high is a little higher at 1.0516 but it seems like price is already finding supply.

We haven't broken the 20 SMA in 10 days and the uptrend shows a strong structure. The divergence is also adding confluence here. The BB spike didn't happen and price even failed to reach the outer BB. We had some type of reversal pattern: large bullish candle, pinbar , large bearish candle.

The only thing missing is the break of the 20 SMa with a strong bearish candle. DON'T enter just yet but wait for the confirmed signal.
I am trading Forex for 10 years and 5 years ago I quit my corporate job to travel the world


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