Entry: 1.46708 Take Profit (TP): +1.33% Stop Loss (SL): -0.86%
📊 Market Overview
EUR/SGD is in a strategic zone, with an entry level set at 1.46708, an area that could act as a key support. The idea of this LONG trade is based on a possible resumption of the trend, taking advantage of a bullish movement in case of confirmation of the momentum.
🔍 Technical Analysis
Key Support: The price has tested the entry level several times, suggesting a potential base for a restart.
Resistance: The TP target implies a movement of +1.33%, indicating a possible breakout to new highs.
Stop Loss: The protection set at -0.86% helps manage the risk and minimize any losses.
📈 Risk Management
Capital management is crucial. With a Stop Loss of 0.86%, the risk is well calibrated against the potential gain of 1.33%, maintaining a positive risk/reward ratio.
🔥 Conclusion
If the price confirms the support and shows signs of strength, this LONG strategy on EUR/SGD could generate a favorable opportunity. However, it is always essential to monitor the market conditions and adjust the strategy if necessary.
Trade closed: stop reached
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.