USD/SGD : Strong Sell Position Looking for drop in Next Week as per forecast, Ttrendline broken in downside.
thankyou
USDSGD trade ideas
USDSGD is close to 3,5-Years High!I will open Sell in marked Zone!
Reasons:
- the price is under Historical Key Level 1.45460 (3,5-Years High);
- the chart shows to us the start of a global bearish trend;
- H1 timeframe is forming H&S pattern:
- potential profit will be in 5...10 times bigger than risk.
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Plan for go Short UsdSgdThe price approach the Weekly resistance, and in the Daily time frame we have the Bearish Engulfing in this resistance zone.
We can waiting for a bearish confirmation candle after the bearish engulfing then set Sell Limit 50% the Bearish Engulfing.
Good luck All
USD/SGD retracement is due ? 22 March 2020Watch 1.42- 1.40 area to long. Until virus in both US and EU are contained, we should see this pair going higher. Singapore is a trade dependent economy.
USDSGD short trade ideaPlan : 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.
Traders!! if you like my ideas and do take the same trade like i do, please write it in comment so we can manage the trade together.
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GWBFX
USDSGD VIEWPossible downside .
Wait for the setups.
Trade with care.
Trading while markets are in recession is very risky.
Bullish ABCD - USDSGD (Weekly Chart)Potential Weekly Setup in USDSGD
TP1: 1.3178 (839pips)
TP2: 1.3697(1358pips)
SL: 1.1937(-402pips)
Open position at: 1.2339 (retrace price after touching D point)
Will be a very profitable trade if the setup completes beautifully.
USDSGD LONG POSSIBLY AT A BOUNCE POINT
WE MAY FOUND SOME SUPPORT
SELLING THIS PAIR IS ALSO THE OPTION AS IF OUR ENTRY TO GO LONG FAILS TO SUPPORT WE WILL HAVE A CHANCE TO SHORT THIS PAIR TO THE NEXT LEVEL OF SUPPORT BEFORE TAKING THIS PAIR TO THE UPSIDE
THIS IS AN EITHER OR SITUATION WE CAN EITHER SELL THIS PAIR IF OUR ENTRY FAILS OR WE CAN EITHER BUY THIS PAIR AFTER OUR MARKET GIVES US CONFIRMATION THAT OUR SUPPORT LEVEL ENTRY ONE IS IDENTIFIED
Long USDSGDThe curve on W TF but there is a high possibility to break the curve knowing the current trend is so bullish. Our plan is to go with the momentum and TP in 1.4385. It's a swing trade.
USDSGD might bounce offPrice has fell in an ALMOST clean move from 1.408 to 1.378 I am expecting it to test 1.374.
If price bounces off 1.374 wait for a clean move before entering, otherwise downtrend continues when Feds continues with rate cuts just to "save" the economy from the effects of COVID-19.
USDSGD - Long Term BuySetup: Weekly uptrend formed, price has retraced to the W1 38.2 fib level and expected to continue the trend to the upside. On a daily perspective, price has made a good impulse to the upside breaking above the strong and important 1.385 resistance now turned support level.
Trade: We take a long entry at the daily retracement to the broken level mentioned above (1.3850/1.3865 area), setting SL a few pips under the last H4 low and H4 61.8 fib level, while setting our TP on the weekly time frame at the anticipated new high around 1.4180
