A bearish gartley pattern has just completed on the CADAUD (1D and 4H). Purple line represents the 127.2 EXTENSION OF ABA and orange line represents the 78.6 RETRACEMENT OF XA. Shorted a full position
The 127.2 extension of the ABA leg is rather far from the 78.6 retracement of the XA leg. Decided to short 2 half positions at those points. Any thoughts on this method? Have seen variations for the ROE of a Gartley, some requiring confluence while others do not!
This level held pretty well in a triangle since I last posted about SGDRMY, it does look like we are about to see a much higher SGDRMY rates at a projected range of 3.25 - 3.29 .
To recap the movement for EURNZD last week, the pair traded lowerafter a bearish pinbar on the weekly chart from the previous week as the EUR remains pretty much weaker, after the Fed raised rates and economic figures from Europe came in mixed.
Monday and Tuesday saw the EUR/NZD trade lower, after which traded pretty much sideways as commodity currencies took a...
With the next fed policy coming along, it seems as if the Dollar will gain momentum once again particularly with this pair as investors may find the USD attractive after the next meetings announcements.
The Histogram shows bulls rebuilding strength is it breaks out of the R/Trend very soon.
As for the chart, a HS Pattern upon completion with the daily trend AND...
Clear trend seen in the crash of Malaysia's ringgit, and can be described by the famous "anatomy of a bubble".
It is driven by psychology more than the low oil price, or the corruption of Malaysia's Prime Minister Najib.
Ringgit instead strengthened in the early days of the oil crash and it took almost 1/2 a year before the common folks start realizing and...
After sliding from the peak of 3,550 in April for almost 6 months, the STI has been rallying for the past 3 weeks to 3,068. Based on my analysis, the 6 months bear was a 3-wave correction, with the existing rally acting as the 2nd wave of the bigger trend.
With that in mind, the STI may continue its decline at the 0.618 level at 3,237.
"Singapore, 18 August 2015…Prime Minister Lee Hsien Loong today unveiled a set of six commemorative currency notes to celebrate SG50. The commemorative notes, issued by the Monetary Authority of Singapore (MAS), comprise a $50 polymer note and five $10 polymer notes. Together with a set of three commemorative coins launched in April this year, the notes complete...
The term 'currency manipulator' should be useful for the US again to label China ;)
Who will win this devaluation war? Absolutely no one when everyone is devaluaing their currency, and even US will probably not raise rates during December.
I got into this trade about 6 days ago which was a bit early. I t looks like a classic entry today. Med TK bullish cross, Chikou span out of the cloud and price, candles have broken out of cloud, bullish twist. I took a chance getting in early but I could have got caught up in congestion. I got lucky that it moved higher in just a few days. I would consider now to...
Waiting for this to fully develop.(A) Chikou span looks to be heading towards a cloud break and out of price. (B) Daily candle needs to close above cloud. (C) Med strength Bullish Tenkan-Sen crossover> (D) Bullish twist. Waiting on the Candle and Chikou Span before pulling the trigger. Tgt will be 1.39
As someone living in Singapore, I've stumbled across signals of perhaps a start of a larger implosion that's about to happen in the near future.
The ghost malls:
In recent years, there've been a dramatic increase in the number of vacancy in retail malls including those in the prime areas such as city area.
What's seen right now is even worst than 2007 prior to...
The exchange rate of SGD/MYR have always been rising within in a predictable channel since 2006.
Given that Malaysia is still the only net oil exporter, the collapse in oil price in late 2014 caused a 'disconnect' with exchange rate surging above the rising channel.
Focusing on SGDMYR exclusively allows us to ignore the trend of a rising interest rate hike ahead...
We will be watching to see if a Gartley pattern will form over the coming weeks on USDSGD. So far the pattern has been moving exactly as it should, completing the A-B move while working its way partially up to point C. We may not see point D, our buying area, hit until some time in July but then again you never know how fast patterns will emerge. One to keep an...
