IvanLabrie
Short

USDGD: Potential strong decline ahead

FX_IDC:USDSGD   US DOLLAR / SINGAPORE DOLLAR
285 6 15
I think this pair has topped for some time, and is currently about to start wave C of a corrective decline (IF the corrective structure that followed the first impulse down is indeed an expanding triangle B).
We have a strong monthly resistance level slowing down price, and a time at mode price projection matching this top area.
I'll wait for a clear opportunity to short under the highest low, stop loss should be above 1.37243 and the target is at the bare minimum the current downtrend mode, and potentially lower as shown on chart.
I'll update with my entry once I sell short.

Good luck,

Ivan.
Trade closed: stop reached
thanks for bringing my attention to this pair, i remember last time we talked about it, its a pity i didnt take that trade because i was starting my studies/vacations. I think also its devoping a 3-3 structure so far, i will be ready to short the killer C-wave.


USDSGD-correction finished
+1 Reply
Hi Ivan, Good spot on this pair. Im now looking at this gartley. not big on harmonic patterns but completes at resistance so I like it. I would maybe get short at this level but first target would be the 150ma as it's still a developed uptrend in place and usd fundamental's are long bias.
snapshot
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Yes, I think this one might work.
It topped at my forecasted level it would seem, but it moved past my monthly invalidation level.
It can still fall from here, but we'll have to wait for a clear entry.
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Watching for entry, looks promising, it's aligning with usdchf topping, eurusd rebounding as well as gbpusd thrusting up in an impulsive wave soon.
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snapshot


In, 0.5% risk.
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Stopped.
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