Breakout1. Towards the short-term trend; absence of the long term trend (W chart - flat);
2. Tightening to the previously tested price level.
JPYSGD trade ideas
A Great Weekly Forecast and Technical Analysis for SGDJPYMidterm forecast:
78.70 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 77.10 on 10/03/2019, so more gains to resistance(s) 79.75, 80.85, 81.65 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 68.
Trading suggestion:
By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
A Great Weekly Forecast and Technical Analysis for SGDJPYMidterm forecast:
78.70 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 77.10 on 10/03/2019, so more gains to resistance(s) 79.75, 80.85, 81.65 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 65.
Trading suggestion:
By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
its going down hello and welcome traders big opportunity SGDJPY is going down first we have divisions signal in RSI witch is great
also in the daily fram it was going up then its bouncing in the top to go down
also in the hourly chart a good RSI divisions shown to go down to the fors arrow could and could be more
Possible SGD/JPY Short Position!!SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
SMP Strategy
Chart time frame - H4
Timeframe - 2-4 Days
A – Activating Event
Market will meet resistance in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market will move towards the first Target 1 level @ 77.40
C - Fundamentals that may affect the pair
USD Retails sales on the 16th Oct @ 22:30 AEST
D - Trade Management
Entered @ .....
Stop Loss @ .....
Trailing Stop Loss@.....
Target 1 @ 77.400
Target 2 @ ....
Risk/Reward @ 3.5.1
Happy trading :)
Follow your Trading plan, Remain disciplined and Keep learning !!
Please Follow, Like,Comment & Follow :)
This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Japese Yen (JPY) Demolition? Time for Singapore Dollar (SGD)?Couldn't pass this guys! But I think JPY's time as a "safe haven" currency is over. I'm yet to learn of the underlying fundamentals but there are a lot of pluses in the monthly chart. And they are rare! Since the monthly chart is king, I'll take the cues from the double bar bull reversal pattern clear in the monthly chart and call for SGD LONGs in the daily and 4-Hour charts. What's more, September's bull bar was below the lower BB meaning there was a degree of under-valuation. Therefore, as the market seeks for equilibrium, it is likely that prices will rally to 83 or higher by Q1 2020. It's a long hold but you will be earning positive swaps, so no big deal!
SGDJPY BEARISH TREND BIAS : BEARISH REASON : This trade is based on my algorithm as well as price action. Price is trending down on the daily however it has pulled back recently forming a short term uptrend and has now rejected to push up further. The red line are my daily S&R levels. After the first resistance level was rejected you can see that price has pushed down and came back up to test a new lower level of resistance. Seeing that we have a few days of price stalling and some wicks to the upside this tells us that price is failing to push higher and sellers on coming in to continue to downtrend.
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANK
Stop Hunts = Necessary Evil Every stops being taken out is to service one of the purpose =
A) to push the price further in the institution trader's intention of price manipulation towards their ultimate intention i.e their ultimate intention is to buy at a low price say 1.0000, so they take out some stops at 1.0500 to provide liquidity for the short term move towards the cheaper price at 1.000. In this case, a sell stop at 1.0500 would have been consumed so the price could go further down.
B) to get enough orders for them to consume so they will avoid or limit slippage when they execute their market order and/or their buy/sell stops gets filled. i.e They manipulate the price towards 1.000 and take out all the sell stops so they can buy it (sometimes the buy stops AND its stop losses. A stoploss for a buy stop is a sell stop and vice versa)
For SGDJPY, if an institutional trader in Singapore or Japan wants to Short SGDJPY with a huge order, they need to manipulate the price to get more liquidity. If i was a reversal support/resistance trader and I already shorted this pair, I would definitely put my stoploss at the area I illustrated in the skyblue line at 77.35 to 77.50. My stoploss is FOOD for the bank traders. The rule of thumb is simple : The more obvious the S/R line is, the more likely it is becoming a manipulation zone/stophunt zone. So, if price breaks above Friday High and close above it, I would be looking a bearish signal. The higher it goes, the better .
If the bank trader wants to go Long and there is not enough liquidity (it's a Monday, of course, it is more likely not enough liquidity), a stop hunt is basic modus operandi to make sure your Long order would get spilled without slippage/limited slippage (also they could split their order which on the chart would cause a lot "re-tests of support" and ugly whipsaws (accumulation). If the price breaks and close below Friday low (preferably going at 76.80-76.60 (the lower the better), then I will be looking for a bullish signal there
Please read related post below.
