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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...
Pattern: Descending Triangle on 1W. Signal: Bearish as the price is near the 0.618 Fibonacci retracement which is typically a rejection level on this pattern. Target: 1.000.
Pattern: Rectangle on 1D. Signal: Scalping within the 1.0087 Support and 1.0165 Resistance. Target: 1.0150 for long and 1.0090 for short.
Pattern: Head and Shoulders on 4H. Signal: Bullish after the price met the neckline's first support layer. Target: 1.0270.
3 Signals fired here today. Counter signals most likely are coming from down day with heavy rejection. So 2 ways to read this trade right now. Counter trend but early to reversal. If all 3 signals are false on this trade then have to re-analyze signals and re-tool indicators for this algo. Backtest has 100% win rate on this pair with only 2...
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. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are...
CHECK THIS SET UP OUT. LOOKING GOOD SUPPORT THE MOVEMENT WITH YOUR LIKES, COMMENTS AND FOLLOW FOR MORE
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.
TP = 1.03200 hit on the previous 4H Rectangle with CADSGD extending the 1D Channel Up (RSI = 53.764, MACD = 0.003, B/BP = 0.0016), which as seen on the chart (also by the neutral Highs/Lows = 0) has just priced its Higher Low. This is the best place to go long with TP = 1.06200.
Head n Shoulder pattern combined and working nicely with the trendline analysis.
Head N Shoulder pattern forming nicely here also obeying the trendlines.
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.
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Since I started investing in forex, it has not occurred to me that property investment has a lot to do with forex. Look at this beautiful and timely chart. We know that in many countries like Canada, Australia and even China that the government is indeed clamping down on the properties market. It used to be C$1= S$1.70 in 2007. Fast forward 10 years later, 2017,...
Currently bullish this pair, subject to pullbacks on weekly and daily timeframes.
CADSGD Resistance: .105830 - 106200 PP:1.05800 Support: 1.05550 This is not investment advice