IvanLabrie
Short

USDGD: Potential strong decline ahead

FX_IDC:USDSGD   U.S. DOLLAR / SINGAPORE DOLLAR
292 6 16
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
Stopped.
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snapshot


In, 0.5% risk.
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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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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. <