USDSGD: Interesting long setup
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!
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
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.
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!
Check out my updated track record here: pastebin.com/6CyyqnPT
If interested in my trading signals, or in personal tuition, contact me privately. I'm offering a considerable discount on a packaged course which includes access to my private trading signals list for a year.
Cheers!
Ivan Labrie
Link to Tim West's chatroom: www.tradingview.com/chat/
We discuss setups like this often there. Feel free to stop by and subscribe to his indicator pack. If you have any questions ask.
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.
