I usually dont trade this pattern, thanks to IvanLabrie for this idea: I just wanted to post my technical analysis, i found very interesting things at w1 chart: Details on chart I think it is still not late for an entry, the price is making a retracement or consolidation and after that i expect a strong rally. Best regards
Fellow Traders, As mentioned in my previous post, linked below, a break above 1.33425 would signal continued strength. Entry: 1.33425 SL: 1.32585 TP: 1.3745 ***Update*** TP changed to 1.3433 as it is the completion of a 1.618 fib extension and also the 20 SMA price level on the daily charts I suggest risking no more than 1% per trade by adjusting your...
*We booked a profit of 27 Pips. Even though the spread is from from closing we decided to take the profit and move back into cash. Of course if this spread narrows we will be leaving a lot on the table but we are happy with the gain from a low level risk trade. We will be initiating 1/2 our position in a correlation trade of USD/SGD to USD/JPY. The spread is...
Fellow Traders, I see the USDSGD pair bouncing off a .50 retracement level and I am looking for a retest of previous highs. Also, bullish divergence spotted. Entry: 1.32477 SL: 1.31403 TP: 1.3749 CLOSE @ 1.33225 I suggest risking no more than 1% per trade by adjusting your position size accordingly. Luke Check out my performance record of all published...
SGD has been trending for a long time, and this has been the first major retrace, so a great opportunity to go long. We might get stopped out of this first trade, but then will take the next trade long as well, as it has a high chance of the trend continuing or at least testing previous highs. Never risk more than 2% of your account on any trade.
USD/SGD Confluence: 1. 50/60 - 200/250 EMA Crossover in January 2015 indicated a major transition in market sentiment. 2. Measuring the entire symmetrical triangle breakout leg from Summer 2014 to the highs at 1.39 which marked the end of the Quarter 1 of 2015, we can see the .5 - .618 Fibonacci retracement lies at 1.32- 1.30 3. 1.32 was the peak of the...
Current Sentiment: Bullish Pending Technical Score (PTS) Direction with trend: 0 SnR Confluence: 0 Trendline Confluence: 0 Harmonic Confluence: 0 Total: 0/8 Wait for price action confirmation. I would love to hear your opinion, feel free to comment, agree or disagree....
Trend reversal? a) Break and close below trend line. Check b) Break and close below support zone. Check c) Lower highs, lower lows. Check Another support is fast approaching around 1.3440. Possible bounce from this zone (ABCD pattern). Then looking to short around 1.3636.
USD/SGD breaks uptrend. It tested resistance at 1.3882 and cannot close above. I am short on the break of previous weekly bar 1.3610. Stop loss at high of previous weekly bar 1.3803. Target will be 1.3228 where support is available.
Long entered last Friday based on pin bar signal on 26 Mar. Pin bar rejected horizontal support zone and up trend line. It has also rejected 61.8% Fib. Stop loss moved to entry level for breakeven as I don't feel good (emotion over system here) about the price action during the Asian session now. USD has been gaining across the board over other majors like EUR,...
Looking for this pair to push through 1.3700 to show some strength before entering into a long position.
THE BIG PICTURE: For this chart there are a couple fib levels that around which price is trading. The Singapore Dollar is approaching a long term level which was support in 1994 and held for a couple years. That level was finally broken with conviction in 2010 and as the saying goes, the old level which was support is now expected to provide resistance. ...
USD/SGD Forecast dated Feb 25th 2015 which is currently trading in the range of 1.35650. We seem the up trend in this pair is over for short term. So we look forward to take a sell positions in the same in the range from 1.35650-1.35890. The pair should hold its upper range of 1.36300 on a closing basis, whereby expecting a target of around 1.34900-1.34400 in days...
details on the chart after the first convergence a divergence (on 15m chart) is the confirmation for entry greetings
Fellow traders, Please see my previous post for context: Looking to take advantage of channels and slopes and fib levels as shown in my chart. Entry: 1.3566 SL: 1.3493 TP: 1.37769 All the best, Luke
This setup triggered two days ago but its still not late. As all USD related pairs we need a deeper correction on this pair. We have and AB=CD pattern followed by double bearish divergence The break and close below 1.3500 is our trigger for entry. Good luck