Trade the bounce till structure breaks.
- inside channel - fibo retracement - key retrace/support level @ 1.3
GBPSGD long intraday/swing trade setup Buy 1.78663 TP1 1.79477 TP2 1.80184 SL 1.77863 Entry long on this pullback 3 drive pattern.
Pattern: 1D Channel Up. Signal: Bullish after a Higher Low was made. Target: 1.8200.
GBPSGD - 2a - 190115 - SHORT - OANDA - AT - 12H - (RRR 3.66)
The Great British pound vs Singapore dollar currency pair is in a massive downtrend on the higher (daily and weekly) timeframes, and it is forming a symmetrical (isometric) triangle on the lower timeframes. Now it is important to note that there is going to be a lot of noise on the pound pairs for the coming weeks due to ongoing Brexit woes, but sell orders on...
The Conclusion for today’s GBP SGD forecast: Current price swing should reach between 1.77324 and 1.76335. Resistance is offered by the upper boundary of the bearish channel at ~1.80192 upon price closing above 1.77324. Over 8 months of price action is investigated on the 4 hour timeframe of the GBPSGD from a price peak on April 17, 2018 to current date. A...
GBPSGD Buy Idea @Monthly Demand Zone (1.7460 - 1.6975) Buy Stop: 1.7396 Stop Loss: 1.6841 Take Profit: 1.8449 Risk Management = 0.01/$100, With Stop Loss Risk Management = 0.01/$200, No Stop Loss Recommended Leverage not to exceed 1:50 Recommended Risk Ratio 1:2 – 1:3 Close partially the contract once it reaches 50% of profit, Move stop loss over the entry...
Enter at next pullback. Possible long term downtrend.
I would like to this counter trend and have placed a pending sell order to short GBPSGD. If the I get filled in with a spike up and then down that would be good. If I see a strong push and the price holds within my entry area, I will then try to get out for a breakeven or a small loss before reassessing for another entry for short.
The pair is falling within a low pace 1D Channel Down (RSI = 42.443, MACD = -0.005, Highs/Lows = 0). TP = 1.77326 and 1.76614 (with the latter the 1W support). 1.73888 can be pursued only if the SL is on profit margin as it is a multi year support.
A shooting star has formed and prices does not seem to be able to go any higher. It's still currently in a long term bearish trend and we can expect it to fall further below if the current support is broken. Trade with care.
price has now created two lower highs which indicates an end to the momentum of the gbp versus sgd
I expect price to close below the moving average for the month of September. I'll be looking for bear signals on the daily time frame. Entries will have a stop loss but no take profit targets. Trades will be closed when monthly candle finishes painting.