Head and Shoulders Bottom in CADSGDI'm going to place a buy stop above yesterday's top. Stop loss below yesterdays low. If the price exceeds yesterday's high, the buy order will be triggered.
Risk Reward 1:6.
Cad-sgd
CADSGD, Descending Triangle For A Big DropCAD/SGD - The price dropped below the lower boundary of the descending triangle.
The target is around 1.00
CADSGD Buy SignalPattern: Channel Up on 1D.
Signal: Buy as the price broke above the (former) 1.03170 Resistance as well as the Lower Highs trend-line.
Target: 1.0400 (the next Resistance).
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CADSGD expecting higher bearish continuation technicaly based
ENTRY: 1.02700
TP: 1.02000
TP2: 1.01400
TP3: 1.00700
SL: 1.03200
Chart time frame - 1W
Time for reaching TP - 1-2W
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CADSGD expecting higher bearish continuation technicaly based
ENTRY: 1.03800
TP: 1.03400
TP2: 1.03000
TP3: 1.02700
SL: 1.04400
Chart time frame - 1D
Time for reaching TP - 1-2D
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CAD/SGD - A nice LONG direction setup*** DISCLAIMER ***
Any and all commentary, research, analyses, or other information published by me on this website are provided as general market commentary, and do not constitute investment advice nor a solicitation and there are no guarantees associated with them. I am not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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At the moment we are in the lower bound of a 10 months old channel. Now, there is a nice long direction setup with also a nice R:R, so if I will see a bullish pattern as confirmation, I'll go long.
CADSGD: Medium and long term Sell Opportunity.The pair has been trading within a 1D Channel Down since August/ September peak (RSI = 52.914, MACD = 0.000) and is currently testing the 1D MA50. Even though the Lower Highs are clear, the pattern lacks the latest Lower Low and we are taking this opportunity to go on a medium term short towards 1.0300. Long term trades may wait for an even bigger sell opportunity towards 1.01000 (1W Support) if the Channel Down breaks downwards.
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Trading on divergence signalsEDUCATIONAL PURPOSES:
There are several indicators that one can employ during the course of analysis. One common indicator will be the Relative Strength Index.
What can you draw from this indicator?
Overbought and Oversold signals!
However, one can also use this indicator to spot divergences in the price and the relative strength!
Above are 3 examples of RSI divergences: AUDCAD, AUDSGD and GBPAUD.
The main idea is to look out for differing directions between the price and the RSI within the same period.
As we can see from AUDCAD and AUDSGD, price was creating lower lows while RSI was creating higher lows. This is an example of a BULLISH RSI DIVERGENCE, and price will soon start correcting.
In the case of GBPAUD, another higher high on the price carves out a lower high on the RSI. This shows that there is a BEARISH RSI DIVERGENCE, and price will soon start correcting.
Spotting divergences helps with timing of trade entries (whether it is too late or too early), exiting of positions and/or adding more positions. You can also use this as a trigger for a trade (i.e. a Long trade in AUDCAD, or a Short trade in GBPAUD).
The time frame that you use to spot divergences will affect how long you have to wait for price to start correcting (i.e. shorter time for H1 as compared to Daily).
**One important point to note when spotting or trading on divergences: Observe for price action in line with your bias (bullish price action for bullish RSI divergence, vice versa).
RSI divergences can fail should it carve a higher high or lower low that is in line with price.
CADSGD Buy SignalPattern: Head and Shoulders on 4H.
Signal: Bullish after the price met the neckline's first support layer.
Target: 1.0270.
CADSGD: Quick sell opportunity.The price has been trading within a very steady 4H Channel Down (RSI = 31.405) on a slow pace (MACD = -0.003, Highs/Lows = -0.0034, BBP = -0.0087). This creates the condition for a quick short profit on a 1:1 RR with TP = 0.99800.
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CADSDG - ANOTHER EXOTIC PAIR UPDATECHECK THIS SET UP OUT. LOOKING GOOD
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CADSGD: Target hit. Channel Up continuation. Long.TP = 1.06200 hit as despite a deviation, the 1W Channel Up (RSI = 55.270, MACD = 0.004, BBP = -0.0120) made a Higher High near 1.07500. With the Highs/Lows = 0 (neutral), we can assume that the Higher Low is already priced and that the Channel Up will seek a new Higher High on CADSGD. Long TP = 1.0700.
4H Rectangle. Sideways advantage.CADSGD is trading within a 1.0310 - 1.0400 Rectangle on 4H (RSI = 57.936, MACD = 0, ATR = 0.0023) and we will take advantage of the swings both ways. First trade, short, TP = 1.03200.
Cad-Sgd Sell SetupCad-Sgd Sell Setup with one is trendline plus fibbo setup and 2nd is harmonic setup
