GBPSGD Buy IdeaGBPSGD Buy Idea @Monthly Demand Zone (1.7460 - 1.6975)
Buy Stop: 1.7396
Stop Loss: 1.6841
Take Profit: 1.8449
Risk Management = 0.01/$100, With Stop Loss
Risk Management = 0.01/$200, No Stop Loss
Recommended Leverage not to exceed 1:50
Recommended Risk Ratio 1:2 – 1:3
Close partially the contract once it reaches 50% of profit, Move stop loss over the entry level
Close partially the contract once it reaches 80% of the profit
GBPSGD trade ideas
GBPSGD long on H4 pullbackThis is another GBPSGD long trade. The first pullback i published should have secured 160pips. Now we're getting another pullback on the H4. The pullback is testing previous resistance now support (as shows on H4 chart- top right) and on the daily is not at a significant point which is good as we hope this will continue up to the next resistance level as marked on the chart. Will look for a close above trendline on the 4hour.
Long GBPSGD Daily/H4This unfortunately contradicts my EURSGD short trade, but this does look like a nice setup long. Big impulsive move up after a long downtrend on the daily and smashed through the resistance line show on the daily which has been respected quite a few times. It looks like its now testing the same line as support on the H4. Could go long if price breaks above the H4 trendline. Plenty of room for 3:1