Technician
Long

USDSGD: I am Long for the long-term

1370 21 21
Update: First Target Hit
Stop loss moved to break even
All targets reached
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I just initiated a long term long position.

If you're looking for a longer term position trade, this might be a good choice to speculate on. The pair has been in a major consolidation phase within the past few years, that kind of action usually precedes major long term trend shifts. The price may have broken out recently, and could be just the start of something much bigger.

The fundamentals support this view, as markets continue love the U.S. dollar, the out-performance of the U.S. economy and potential reversal in the monetary policy cycle could be the main catalyst for this trade.

Best of Luck , join me at https://twitter.com/thefxchannel
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My best regards,
Technician
My trading channel https://telegram.me/technician_forex_trades
ZarNegar
2 years ago
As a possible

snapshot
+1 Reply
Technician TOP ZarNegar
2 years ago
The opposite trade, that what makes a market :)
Reply
thanks technician
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Olu
2 years ago
I agree with this trade. One thing though imho. Yo would need to leave the stop at the botom for a long time if you want to hold it till target.
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Technician TOP
2 years ago
Update: First Target Hit
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HexVex
2 years ago
I was range trading this with a upward bias for a while. When the Dollar didn't move after Yellen I switched to a sell :P No loss only modest gains so thanks as always for this one!

It's been a manic day so EUR/JPY maybe escaped your attention. The weekly chart is looking juicy for a short to me. Being a simpleton I like trend lines :) Would be great if you shared your thoughts!

Reply
Technician TOP HexVex
2 years ago
Oh buddy, i would be shaking shorting anything against the yen now :D
+1 Reply
HexVex Technician
2 years ago
One of my mantras which I can't stick to most the time is - Buy fear, sell euphoria. Not very technical but yeah... Maybe we go back to tomorrow on Monday or Tue :)
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Technician TOP
2 years ago
Stop loss moved to break even
Reply
Technician TOP
2 years ago
Blowing through second target
+1 Reply
HamedAghajani PRO Technician
2 years ago
The move was were strong. I was waiting for the price to test the broken trend-line, and it never occurred to me. What is your trailing stop strategy in this long term trades?
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Technician TOP HamedAghajani
2 years ago
I think this trade could easily reach my final target, so i wont trail, i only moved stop to entry point for the rest of the position.
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LastBattle
2 years ago
http://www.bloomberg.com/news/articles/2015-01-28/singapore-joins-global-wave-of-monetary-easing-after-prices-fall
http://www.bloomberg.com/news/articles/2015-01-28/why-china-may-not-follow-singapore-in-global-push-for-weaker-currencies

Nailed it. Blew through the third target now :)
It may possibility hit 1.4 and beyond too.
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Technician TOP
2 years ago
Full target hit on this trade
Reply
CarlosEspeleta Technician
2 years ago
Amazing Technician
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Technician TOP CarlosEspeleta
2 years ago
Thanks Carlos :)
Reply
ersoytoptas PRO
2 years ago
very good
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HexVex
2 years ago
This was a bit like your AUDCHF last year. Magnificent! Paid for a lot of vet bills.. Thank you!
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HexVex HexVex
2 years ago
-10
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Technician TOP HexVex
2 years ago
-10?
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HexVex Technician
2 years ago
That's for me. Since I set my self up for the wrath of the Mods with some irreverant comments and I'm a contrarian to some heavily publicized prophesies here I thought why not dish out exaggerated reputation points based on a very innocent understanding of Tradingview etiquette. Don't worry I'll grow out of it by tomorrow morning
Reply
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