USDSGD: Interesting long setup

FX_IDC:USDSGD   U.S. Dollar / Singapore Dollar
We have an aggressive long entry here in USDSGD             , I copied the rally from April 29th, 2015, since it matches the current prices very well to illustrate what is possible here.
There was a downtrend which has expired and we're above weekly support, so we can expect higher prices soon.
In the 4h chart we can observe a potential uptrend forming, so it's potentially a good long entry here, even though it is indeed early to join the long side.
We should see this pair gain traction after the FOMC meeting, let's give it a try and see how it goes. Good luck!

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Ivan Labrie

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Risk disclaimer: My analysis is provided as general market commentary and does not constitute investment advice. I will not accept liability for any loss or damage including, without limitation, to any loss of profit which may arise directly or indirectly from use of or reliance0.57% on such information.
Comment: This trade is punishing from the start, but let's give it some breathing room. I think it will trend clearly after FOMC, let's just hope it doesn't go for our stops first. If not we might have to reenter with a different strategy, but we'll know soon enough.
Comment: Good progress, looks promising.
Entry is still pips away but looks good
IvanLabrie KevinSinghDhaliwal
Hi Kevin. What do you mean? The entry at C, or what?
+1 Reply
Hi Ivan, no I missed the entry at C leg. Now got the entry at 1.3576. Are you already in? Or are you waiting for the news tomorrow?
IvanLabrie KevinSinghDhaliwal
I'm in, waiting around for momentum. Thanks for clarifying. Cheers!
Looking good! I'll monitor this and join the wagon w/ you
IvanLabrie moorekapital
It's early, 4h has potential for an uptrend, daily and weekly maybe, but not yet 100% there.
I think after FOMC, everything will be clearer here.
moorekapital IvanLabrie
Very correct! Let's wait . Looks a good guy when it picks the baton.
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