IvanLabrie
Short

USDSGD: The top could be in, or close

FX_IDC:USDSGD   US 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 PRO 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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snapshot


Few more days until the last uptrend signal expiration.
Price is already looking bearish, I'll post a suggested entry as soon as possible.
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dingying85 IvanLabrie
i guess that is why the energy and natural resources stocks are shooting higher today
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IvanLabrie PRO dingying85
Time to cover shorts...probable DXY rally now.
snapshot

Suggested entry, if you want to ride the last wave up.
1 atr stop under the previous low, you can also wait for the timer to expire. Both work.
Target is speculative, it will go higher than that.
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Beautiful weekly bar so far!
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