Prices on the CHF/SGD broke out of a interim downtrend on the daily chart, and we can anticipate further upwards movement. Price could find support on the 1.3650 if it forms a correctional structure in the form of a bear flag pattern, and then continue higher. Proper risk management is key especially when trading exotic currencies since there are huge margin...
Hey everyone! I hope it was a great sunny weekend for everyone of you guys. Here in Germany it was beautiful, like this setup we are looking at. Found it during my weekend trading routine. USDMXN looks super clean from now as there was bullish momentum during the last week. Forming a peak high formation now with a divergence on the RSI could indicate another...
Off the beaten track with an "EM exotic" trade.. and the first idea on this pair on tradingview PLNHUF breaking and having repeated closes below 2018 low opening up a move down to 72 area and potential retest of 2017s low 70 area
USDTRY is a very tricky exotic pair to tackle. The exotics on the whole are erratic and offer may traps and false breakouts. This is a dangerous pair and not recommended for those without experience of exotics. On this occasion I'm departing from my system of 'rules' because I'm dealing with such a wild 'animal'. I have experience of exotics doing false...
Looking at this exotic pair, I believe it has the potential to go bearish but that will depend on whether the retest goes our way. I believe that this trade will become bearish. Your Stop Loss should be set just above your recent high at 14.74 with your first Take Profit set at your first resistance/support line - 14.11 PLEASE FOLLOW AND LIKE MY IDEA, ALSO CHECK...
Exotic currency to watch for ---> South African rand USDSAR, Mexican Peso USDMXN and Turkish lira USDTRY TRY is heading the record highs following shaky political situation in Turkey. President of Turkey is expected to put pressure on Central Bank and supply cheap USD to let sinking TRY breathe! Long term bullish on USDTRY but we might see a retrace from higher...
Price is now at a monthly level. I usually take this to mean a strong reversal is imminent. Reactions from monthly levels can be traded intra day for short term gains or even held for a few days. Price is at a sweet spot between the 61.8 and 78.6 fib levels and the bearish market structure has been broken significantly. Looking to enter about now and target the...
USD/ZAR 1H Chart: Channel Up The American Dollar is strengthening against the South African Rand in a short-term ascending channel. The pattern started to form two days ago after a sharp appreciation of the Greenback by 1.8%. Since there were no fundamental events that day, the surge most probably was attributed to combined support level set up by the...
I am waiting to pierce and confirm first but here maybe a cup and handle pattern. I am using others Indicators to confirme a long term trend. ( RSI, CCI, 1 SMA and Bollinger Bands, On balance Volume, ADX and watching ATR also ) So if it confirms as I want with chart pattern + some indicators I will go long 2 Units. TP 1 : Sell one unit TP 2 : Sell second...
These are rare and when they happen you take them as simple as that. This is two ABCD patterns completing need the same zone right before the 1.37500 Major Quarter. Can you say Confluence? When signals align like this you have to take advantage. No one knows what the market will do but the more confluence the higher your edge right? Enough rambling my entry point...
SGDJPY broke major support line in daily time frame, so support becomes resistance, I think this pair is now on pullback mode, after major support breakout, and projection of D point is just in resistance zone.
Well I put the description on the chart, trade it at your own risk, and use this as a way to more or less formulate your trade idea that would fit your own guidelines for a trade. =D Since this is an exotic pair it isn't necessarily for new traders, since many factors make "exotic currency" trades different, when it comes to averaging position sizing to adjust to...