IvanLabrie
Short

USDSGD: The top could be in, or close

FX_IDC:USDSGD   U.S. Dollar / Singapore Dollar
241 20 13
There's a distinct possibility that we will see either a major correction or a larger scale reversal in this pair, in 3 weeks or sooner, according to the methodology that I use, which is time at mode.
For the channel enthusiasts, we got an intermediate term downtrend channel top upper barrier above, in the area of very strong resistance, which I derive from my own techniques (not the channels or fibonacci, but what Tim West taught me).
This pair is under constant central bank control, since it's a managed float, and based on the technical elements I suspect they will shrink the exchange rate fluctuation band soon.

I'll update once I see a clear short setup with defined risk and reward variables, and a high probability.
Hope everyone has a good weekend, cheers!
Ivan.
Trade closed: target reached: To the pip, and right on time.
The top WAS in.
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Short still valid, on a weekly basis.
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IvanLabrie IvanLabrie
Hope everyone jumped in on this one.
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Nice range expansion to the downside...wonder if this pair will follow the DXY march to a new high or retest of the highs or just head down now. I suspect down after this correction.
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Working beautifully...
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