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idea NZD SGD
NZDSGD has just priced a Lower High on its 1W Channel Down (RSI = 35.543, MACD = -0.009, Highs/Lows = -0.0089, B/BP = -0.0174). 1D has just touched its 50% Fibonacci retracement point (STOCHRSI = 54.611, ADX = 20.663, Highs/Lows = 0.0000) and is expected to make a swift 100% completion. We are targeting the cross of the channel's intermediate and Lower Low inner ...
NZD/SGD Trading Plan
Currency rate made a fake broke of key level 0.9192. D1 close upper it.
For me, it is a signal to open long position with low risk.
Most of the times big players protect such levels because when they made fake broke of the key level. They activate all limit orders of retail traders, for big players it is fuel. If someone wants to buy ...
As seen on the chart NZDSGD hit and rebounded off the Novemeber 2017 0.91994 support. A similar 1D Channel Up is being formed (RSI = 55.929, ADX = 40.714). Resistances (and TP points) are illustrated with the purple rays. We are long (TP 0.96992).
Shows Where Price Might Be Headed Long Term
I Keep My Charts Clean No Indicators Just Simple Naked Easy To Analyze Charts
It has finally reached our point D so i'm expecting an upward move.
Here we have a valid Bat pattern forming on the day chart. Valid due to points all falling within their given ratio:
B:0.382 - 0.50
C:0.386 - 0.886
D:1.618 - 2.618
Weekly chart trendline close to the D point so could show a test of that support trendine causing a bounce upwards
Will update daily
We can look for buy if there will be some price action signal. Goals will be 0.9434 or even 0.9710.
It looks like we are heading for a Bat pattern. i'll start looking to buy at point D
Momentum shift which sign of potential pullback
Price broke above horizontal resistance turned support line at 0.960
Price is on an uptrend channel and is staying above on a well supported 21 MA
Bullish wicks can be found on 4H chart
Stop Loss: 0.9555
Risk:Reward = 1:2
I see some short term SGD strength that will outpace NZD strength
The downtrend seems to be coming to an end.
Wait for a positive reaction to the L line of pitchfork or trend line, then you can buy.
Set targets according to the chart.