Price has made new high in daily chart , wait for pullback and confirmed support in order to enter long setup ..
In these articles we post intraday possible outcomes of pairs based on naked trading setup only .. We do not take into account fundamental news which may move pair significantly in any direction , follow your trading plan .
USDSGD completed a bullish bat on daily chart and price reacted perfectly in the zone. The first two target have the highest probability to be reached. The third target is for extended wave development.
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With the recent big financial assistance package and the recent news of possible recession in coming quarters, through the economic cycle, the SGD may be weakening to overcome potential inflation rise. If this is true, then this formation of possible right angled TA may become bullish in time to come. Potential target is shown. What do you think?
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Price is at overlap resistance zone.
Waiting for price to break below 1.385 to create the 1st LL.
Will short on retrace after signs of bearish is seen
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.
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Price has broken above previous highs , but as we can see in chart last time when it did made new highs price got rejected towards previous lows , this suggests that we should apply cautious approach to this PAIR ,
Wait for confirmation of breakout and then long otherwise look to short on rejection.
Plan : wait for price to bounce off from daily resistance level --> wait for the rejection candle pattern to form e.g. bearish engulfing, pinbar etc --> SELL
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Will be speculating what I understand from PA, whether its Loss in Momentum, Long Wicks with Close below, ETC. Perfect Area to look for a Short, left a few notes on the chart analysis itself to keep things brief but effective to look for incase some decide to take their own trades on this pair. Whats great about set ups like this is, if you had proper money...
Previous trade was invalid as price formed a triangle and broke upwards.
Formed a inverse head and shoulders with a neckline just formed.
Price need to break above neckline to be bullish
Moving into triangle = bearish
Current: Neutral. waiting for set up
USDSGD rejected from supply zone at level 1.3925
Bearish movement is confirmed with bearish engulfing candle
MACD shows bearish momentum
RSI broke uptrendline on H4 frame
It's expected for strong coming correction to retest HVN at level 1.3626
then go down towards the key level near 1.3510
Let’s have a look at USDSGD forex cross pair using the supply and demand glasses as technical analysis. This forex cross pair has created a very strong impulse on the weekly timeframe around 1.3497 price area that ended up becoming a strong demand imbalance where longs will be possible again. Using our supply and demand glasses it should be pretty clear that the...
The USD/SGD is starting to show signs of a possible trend reversal as indicated on the M15 and H1 chart of this currency pair. This is not an immediate entry and as always we let the trade come to us instead of chasing (and hoping that a trade will go where we want it to go.
We will wait for the Stochastic Oscillator on the M15 to reach the “overbought” area and...