GBP/SGD GBPSGD

Pattern: 1D Channel Up. Signal: Bullish after a Higher Low was made. Target: 1.8200.

Short position.

We are at the bottom of the upward channel and the sentiment is still bullish.

GBPSGD long intraday/swing trade setup Buy 1.78663 TP1 1.79477 TP2 1.80184 SL 1.77863 Entry long on this pullback 3 drive pattern.

I expect the red trendline to be tested before a drop may occure. Yesterday's hammer supports this idea.

... within a current uptrend is just running. I suppose that it shall end soon.

The fast spike has been retraced already and the test of the top may renew.

To reenter the upward channel has been a buying signal. I had lost the trust in it and closed the position. It was a mistake. Now I am trying to jump on the running train. But I see some chance for a further rise.

The fall out of the channel has proved to be short lived. As we are back in the upward channel there will be more space up to test the previous high again.

Broke 200 EMA and retested.

We are below the rising since the beginning of the year channel. This is important the more that at the same time we are also holding below a level which had been the bottom since January 22nd and the top at January 14th.

... of the upward channel.

We've corrected the January rise for almost 50% and have reached the rising trendline. A renewed attempt to rise may be expected.

The fall came to a halt at least temporarily. Thus I am expecting a certain corrective rise at least.

After the break out of the downward channel the way shall lead upward. A retracement towards the top of the channel was likely and has been taken place now. Thus the way may be clear for a rise, even a substantial.

I got stopped in again after having been stopped out yesterday. After the breakout of the downward channel existing since October the way shall be upward only.

GBPSGD - 2a - 190115 - SHORT - OANDA - AT - 12H - (RRR 3.66)

No idea what kind of Brexit we will see after tomorrows session of Britain's parliament. But the chart tells me that we see a temporair bottom which may result in a retracement of yesterday's peak.