OANDA:USDSGD Example of 1:2 risk/reward at 1st target the 38% from the pattern completion point; Safe Trades;
Double top forming on USDSGD on the H4 chart. Entry below neckline @ 1.41600 with TP values scaling out at 50,61 and 78 Fibonnaci Levels
Short USDSGD, bouncing off 1.43500 resistance. Looking to enter below the low on a candle closing below the consolidation low. Target is .5 Fib
I am still bearish on this pairs BUT don't forget that much is going! Big news today and the Election in the US next week. You have to be careful taking your decisions, for me i am trading small position for now till after things get more clear. Like if you agree, follow and support please!
Price didn't make a new high here, on a nice resistance look left. We have divergence on the MACD also. So IF price close below the TL and retest with failure, i will go short as shown in the chart. Like if you agree, follow and support please!
Reason2Enter: Mid Term - USDSGD on selling pressure Since February 16. Overall bias MT is still downwards. However price met strong buying pressure @ 1.3422 that cant seem to penetrate through just yet. Trade idea: Sell when price hit obvious Resistance level @ 1.3700 area, Intraday, 5min, 1hr, 4hr. Stop loss 50 - 100pips depends on your TF. Take profit around...
Break down through the bottom of the wedge. This is a higher time frame than my usual trades; not 100% conviction on the shape of the wedge. Moving averages are clumped and range has recently tightened.