SGDUSD trade ideas
The Singaporean dollar eyes the lower support levelThe Singaporean dollar eyes the lower support level and locks in with determination to drag the US dollar. Bearish investors are taking advantage of the risk sentiment in the global market that’s causing the safe-haven appeal of the US dollar to crumble in sessions. The US dollar to Singaporean dollar trading pair should continue its downward track in the market and eventually hit its lower support level later this month. However, the reopening of the economy amidst the rising number of cases leaves the Singaporean dollar very vulnerable. If things turn south, the Singaporean dollar could lose its grip against the US dollar. Just this Wednesday, the strong yet small country reported more than 450 new confirmed coronavirus cases including seven cases in the community. The preliminary daily update of the Singaporean Ministry of Health states that the number of confirmed coronavirus cases in the country is now around 38,965.
My predictions for USDSGD UpdateGood morning all. I just wanted you all to know that I've been stopped out from this trade w/my SL.I lost about $117. If i hadn't placed my SL then I'd have loss even more. It's very crucial to have SL in your trades.
I''m going to look for another pair to trade. And just so you know; I don't take trades twice with the same pair back to back.
USDSGD look for correction to be complete and add to the sellHi everyone:
USDSGD has similar continuation correction forming just like my analysis on USDCAD.
Curerntly its still in a developing stage, so I will be patiently waiting for the correction to be finished.
Ideally we get the price to move up more to complete the pattern, and I will look for lower time frame correction for entries.
Thank you
My predictions/entry for USDSGDI've taken this trade about 12min ago and I'm going long. I've placed my SL & TP respectively. I'll not move them. As a swing trader, I'll leave my trade open till it hit my TP or it reverses. I'll be moving my SL as it goes in my direction.
All of my published ideas for any markets are educational purposes only. So, please take trades at your own risks... Thanks.
USDSGD ANALYSISUSDSGD reached AB=CD pattern target at 161.8% fibo and rebounded from level 1.39500
MACD shows bullish momentum
RSI broke downtrend line
so its expect bullish movement to key level and 50% fibo around 1.41000 then bearish movement from the key level to demand zone around 1.38000
USDSGD - next target between 1.384 and 1.38USDSGD is tracing intermediate wave C down of primary 4. The next trget should be between 1.384 and 1.38 and after that the trend should continue up. This scenario should be void if price crosses up 1.433. FOLLOW SKYLINEPRO TO GET UPDATES.
USDSGD - reversion to new highs aheadUSDSGD has followed the path forecasted in our April 30 post and it seems to have finished (or very near to) intermediate wave ( C) that completes primary wave 4. The next move is wave 5 up that should elevate the price to levels above 1.46. If price crosses down 1.385 this analysis should be reviewed. FOLLOW SKYLINEPRO TO GET UPDATES.
SHORT in USDSGD longterm timeframeGoldman Sachs announced they were shorting currencies againts dollar. As US economic condition will faced a long recovery there are so many uncertainty in technical analysis in market but one thing that we can sure about is majority currencies are bullish againts dollar, you can compare another currencies and you can share your thoughts on them. Cheers.
USDSGD 4HRBULLISH Deep Crab@1.902XA
Now with confirmation from a BULLISH CANDLE with RSI above 30
POTENTIAL BUY
USDSGD 1HR
Crab@1.902XA
If price Breaks Red Trend line is where EXIT before SL hits
price need to follow Green Trend line & hit target
POTENTIAL BUY
USDSGD 4h AutoUFOs™ Trade Alert! 02 Jun 2020Basic Approach:
-Short Entry @ 1.4165
-Protective Stop Loss @ 1.4195
-Take Profit @ 1.4105
Rationale:
-Sell Un-Filled Orders (Red UFO ) available in the 4h time-frame
-Buy Un-Filled Orders (Green UFO ) further below allowing for the current trend to continue developing
Boosting Options:
-Trade in the direction set by the overall Market Environment
-Select Take Profit Targets located at a reasonable/achievable distance
-Higher time-frame key price points such as moving average values or Fibonacci retracements coinciding with the entry price
-Confirmation-style Market Order execution after waiting for price to travel in and out of the entry UFO
-Apply Trade Management techniques to lock in profits once the trade begins moving in the right direction
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They are many ways on how to trade, but prices would not move unless Un-Filled Orders (UFOs) get filled.
Join our YouTube Channel ‘tradewithufos’ and be notified of upcoming live trading sessions.
Disclaimer:
We do not provide investment advice, nor provide any personalized investment recommendations and/or advice in making a decision to trade. Before you start trading, please make sure you have considered your entire financial situation, including financial commitments and you understand that trading is highly speculative and that you could sustain significant losses.
USDSGDStop Loss at -110 pips
I only trade on the daily so mostly Swing trades and some even Position trades depending on how long the trend continues.
The first take profit is at 70 pips. Here I close 50% of my position and move the stop loss to break even.
Thus scaling out and then putting a trailing stop as soon as the trade reaches +140 pips. The trailing stop will be set at -110 pips.
Giving the trade some room to breathe and give it the chance to take part in big moves.
The Prediction & Peseurment tool is for visual purposes only to indicate the direction follow the instructions above
Disclaimer!
This post does not provide financial advice. It is for educational purposes only! You can use the information from the post to make your own trading plan for the market. But you must do your own research and use it as the priority. Trading is risky, and it is not suitable for everyone. Only you can be responsible for your trading.
