While USDSGD began the past week of trading with a downward moves, these were quickly reversed by the end of the week and the price ended up where it started: Clearly, traders can see over the past few months that USDSGD prefers to trade within its range of horizontal resistance at around 1.3612 and of support between around 1.3442 and 1.3473. Bull bear indicator...
Moving averages suggest we have some more way to go down as we continue a strong downward trend. Moreover, the strength of this slide is notable. Resistance from February was broken as was resistance from January AND price action also broke a trend line from back in 2018. In spite of this, RSI and stochastic suggests we are poised for a rebound as both are...
Take care
& analyzed it again
- it`s always your decision ...
(for a bigger picture zoom the chart)
This is only a trading capability - no recommendation !!!
Buying/Selling or even only watching is always your own responsibility ...
more 4XSetUps @ 1482 Major Cross-Rates (741 on both sides) @ my GOOGLE Drive
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Best regards
Aaron
A channel formation can be seen on the 1D chart.
Price has bounced off the upper channel, moved downwards and is now retracing back up
Entered 1/2 position the 0.618 RETRACEMENT OF XA, set a limit order for 1/2 position at the 0.786 RETRACEMENT OF XA
Fib level coincide with structure levels and RSI divergence has occurred! Perfect example of my ideal entry!...
Looking at EURGBP, price has been a down trend since April this year. Price has retraced to touch the 0.618 RETRACEMENT OF XA. The 0.618 - 0.718 RETRACEMENT ZONE also confluences with a major structure level, the previous high!
Looking deeper, we see that the retracement is also a 1234 SETUP, confluence with RSI DIVERGENCE and a DOJI, whose upper wick extends...
Identified 2 Advanced patterns on the NZDCHF.
Purple Triangles represent a BEARISH BUTTERFLY(Completed)
Blue Triangles represent a BULLISH CYPHER
Clearly we are now stuck at an impasse, to go LONG or SHORT, that is the question.
Taking a step back to the 1D time frame, we can see that price has moved in a pennant formation ( grey lines) While it is not within...
