USDSGD CONTINUATION SELL Short

U.S. DOLLAR / SINGAPORE DOLLARICE

Description

⋅ Jul 23, 2015 5:12 AM

AFTER A SUCCESSFUL SELL OF USDSGD (POSTED AN IDEA DAYS AGO),
WE HAVE BEAR FLAG PATTERN NOW.
ITS PRETTY OBVIOUS ON H4 H1.

THIS BEAR FLAG SHOULD COMPLETE @ 61.8%.
ONE COULD SELL @ 61.8%
OR WAIT FOR BREAK OF BEAR FLAG TO SELL TO 127.2%.

CURRENTLY PRICE NEAR 61.8% AND IS FACING RESISTANCE FROM PREVIOUS RESISTANCE,
AS INDICATED BY ARROW.
FOLLOW THIS IDEA TO SEE HOW I WOULD TRADE THIS.

Comments

IvanLabrie

⋅ Jul 23, 2015 9:58 AM

Great.

PriceActionTrading

⋅ Jul 23, 2015 9:51 AM

UPDATE 1 : RESPECTING THE BEAR FLAG AT THE MOMENT.

moneymaking

⋅ Jul 23, 2015 5:22 AM

Hey Price, could this have been considered a BULL flag on GBPUSD (4 HR):

PriceActionTrading

⋅ Jul 23, 2015 5:24 AM

That was. Im still holding long from the bottom of the bull flag. I believed i posted that idea. Hold on let me post it here.

PriceActionTrading

⋅ Jul 23, 2015 5:26 AM

Sorry moneymaking, i posted that GU long idea in my NZDUSD idea. You can take a look at my analysis here.

PriceActionTrading

⋅ Jul 23, 2015 5:26 AM

At the comments section.

moneymaking

⋅ Jul 23, 2015 5:31 AM

Oh yes, I remember now, I asked you for your analysis on GBPUSD. At that moment I was still looking at the bull flag but didn't bring it up. I thought that I might be wrong. No problem. At least I am starting to recognize bull and bear flags :)

PriceActionTrading

⋅ Jul 23, 2015 5:33 AM

Yea. Once you recognise the impulse move, you should be able to recognise the correction. which could be in any form (flags/range).