WHY IT IS A GOOD IDEA TO TRADE USD/SGD USING CHANNELS PART 2 Long

U.S. DOLLAR / SINGAPORE DOLLARICE

Description

⋅ Feb 18, 2015 10:24 AM

Fellow traders,

Please see my previous post for context: tradingview.com/v/ICvvXpPt/

Looking to take advantage of channels and slopes and fib levels as shown in my chart.

Entry: 1.3566
SL: 1.3493
TP: 1.37769

All the best,

Luke

USD (US Dollar)fibextensions Parallel Channel Trend Lines

Comments

jangseohee

⋅ Feb 22, 2015 3:45 PM

its kind of overbought for the moment

IvanLabrie

⋅ Feb 22, 2015 6:37 PM

When was the channel policy introduced?

jangseohee

⋅ Feb 23, 2015 12:28 AM

hahaha, channel is never the policy

IvanLabrie

⋅ Feb 23, 2015 2:22 AM

It is!

businesstimes.com.sg/sites/default/files/attachment/2014/10/13/monetary_policy_v2.pdf

luke1827

⋅ Feb 19, 2015 3:35 PM

Closing Trade here @ 1.3584. Reason being that the DX is hitting resistance

luke1827

⋅ Feb 19, 2015 3:39 PM

See chart.

luke1827

⋅ Feb 18, 2015 10:50 AM

Hi Ivan,

The slope I'm referring to is the channel slope. Not using MAs in this analysis.

Regards,
Luke

IvanLabrie

⋅ Feb 18, 2015 10:47 AM

Looks good.
One question though: slopes? Moving average slope?

IvanLabrie

⋅ Feb 18, 2015 10:49 AM

Nevermind, gotcha! Nice going ;)