We haven't looked into the USDSGD pair in a long time (May 16), with the last idea giving a great bullish break-out signal:
The pair has since entered a Channel Up pattern, with the latest bullish leg since July 14, just reaching the top (Higher Lows trend-line) of the pattern. This is also the 0.5 Fibonacci retracement level from the 2022 High. As long as...
• If price impulses back down below our upper rayline, it does so in a convincing manner and a subsequent tight flag forms, then I'll be looking to get short with either a reduced risk entry on the break of the flag or a risk entry within it.
• If my entry requirements are not met then I will simply wait until another setup which meets my plan...
I already have a long term view on this in the related ideas already, so this is just an update. Its a short term sell which will eventually become a long term trade. This structure once broken, drops like a rocket. Thank you for the support.
I have 2 trades open. They are both at only 0.01
My 2 take profits are on the chart. This chart is very clear! Price made many tops on the daily and has started its move down.
If you trade this big , you could get caught in days of ranges , get aggervated and close the trade that should be a winner , but was a loss instead. This kind of trading has changed the...
I am waiting for SGD/USD to hold above 0.6876 before starting higher.
Quite likely, the upwards correction will eventually reveal itself to be partial and a new corrective wave sequence will likely commence.
Short term; short
medium term; long
long term; short
If you would like to speculate a little bit, this can be your next trade.
SGD/USD is at a weekly 61.8 Fibonacci level. This level is also known as the golden level, meaning that if we have the price above the same level, we are in an uptrend, and vice versa.
I will take a closer look at future market development and RSI 40 level.
If the price holds above...