vlad.adrian
Short

USDSGD - Weekly and daily downtrend

FX_IDC:USDSGD   U.S. DOLLAR / SINGAPORE DOLLAR
30 4 2
This pair has been in a downtrend for a few months. I am looking for the major support at 1.31500 to get tested.
Will you ignore the weekly bullish div?
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What bullish divergence?
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Yahia.Awes vlad.adrian
Last week we had a hammer, and the price didn't touch the lower part of the hammer this week. Which is for me a sign of bullish power. The macd has a lower low and the price is higher low in the weekly.
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Well I do not share the same view regarding bullish power, I trade a trend until it is not a trend anymore, that obviously means I will sometimes trade exactly when the trend changes. About the MACD ticking up, that is not a divergence, it is just slowing momentum. In other words, the rate of change of price is slowing down. So yes, I am going to ignore all that and go with the flow, it's just not the type of information that would keep me from trading a trend. Of course, I might be wrong, but this is betting, not accurate science :)
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