SGD/CHF is not holding strong and broke under the 50 EMA on the daily timeframe.
MACD daily has also crossed the zero line and we have convergence down.
AS the pair goes down, we will see how strong the bearish move is and wheter we can keep holding to the next TPs.
First TP: 0.7153
Second TP: 0.7105
Third TP: 0.7055
You must leave enough space for your SL. That is, put it above the daily 50 EMA, or simply, above the last daily candle close with a little bit of space to it.
Trade safe.
MACD daily has also crossed the zero line and we have convergence down.
AS the pair goes down, we will see how strong the bearish move is and wheter we can keep holding to the next TPs.
First TP: 0.7153
Second TP: 0.7105
Third TP: 0.7055
You must leave enough space for your SL. That is, put it above the daily 50 EMA, or simply, above the last daily candle close with a little bit of space to it.
Trade safe.
Comment:
As SGDCHF was not able to go down and was consistently breaking back above the important 50 ema, this trade was closed for the very obvious reason that the market was consolidating and could potentially find the support to move up higher since it failed the bearish move.