. There is a possibility of temporary retracement to suggested support line (1.6908). if so, traders can set orders based on Price Action and expect to reach short-term targets.
. GBPSGD is in a range bound and the beginning of uptrend is expected.
.The price is above the 21-Day WEMA which acts as a dynamic support.
Price is at support
PA still bearish
late to short, early to long.
if price break 1.6955, bearish.
The information contained in this presentation is solely for educational purposes and does not constitute investment advice. We may or We may not take the trade.
The risk of trading in securities markets can be substantial. You should carefully...
GBPSGD is expected to drop to 1st support at 1.72191 where it could potentially react off and up to 1st resistance at 1.73065.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.7085
• Take Profit Level: 1.7200 (115 pips)
Right now is a low risk trade
price hit week support again at 1.6914
over the last 3 hours since japan open price showing upwards travel
you could go long when price is in Purple box
But would keep stop loss around 1.6910 depending on how much risk you are willing to take.
Your take profits should be 1.6960 and 1.7000 (yellow lines)
If first take profits...
We can open BUY in marked Zone at the begining of trading session in Monday because:
- The price is near 33-Months Low 1.66716.
- Weekly candle made a fake breakout of this level and it's a huge pisibility to close above.
- If GBPSGD will bounce from this Low we will have great trade with sweet risk/reward correlation.
Buy Limit @ 1.6885
Protective Stop Loss @ 1.6830
Take Profit @ 1.7035
Buy Un-Filled Orders (Green UFO ) available in the 2h time-frame
Sell Un-Filled Orders (Red UFO ) further above allowing for the current trend to continue developing
Higher time-frame moving average values or Fibonacci retracements coinciding with the entry...