NZGSGD going upSimple trend following , tried to cross a ressistance point , but failed . Going long now
NZDSGD trade ideas
NZD/SGD 4 hr timeframe longSpotted a XABCD pattern that occurred and this indicates that the market will long.
Last move before the market closed, retracement showed 0.618 which indicates the pull back to go long and the profit target used shows a desired profit area of 2.618.
Small stop loss but should look like a potential market to follow as there are long opportunities to seize in the moment.
NZDSGD D1: Testing The Demand ZoneHere's why it may be a potentially good buying opportunity:
- a possibly exhausted extended decline,
- price is in the potential demand zone,
- likely support at the 100% size of the prior swing down (red line).
NZD/SGD Long term From what I see on the 4 hour chart, I can tell you that this is in fact a long term trade for the fact that it was on an uptrend before October 11th 2016 (first green arrow) and it has still continued to push up.
Furthermore I jotted down a little support line which was retested twice and XABCD + Triangle pattern confirms this uptrend.
Look out for this during the weekend and see if my analysis fits with your trading fundamentals and so forth.
Short setupUpper structure have just hit
Weekly corrective move occured
daily corrective pattern occured
hourly corrective pattern after impulse occured
15 minute harmonic pattern
Divergens applies on higher timeframes
Risk to reward is appealing for short
Hug the bearI personal dislike entering late but this is a pair to grab a quick buk from. so as you can see this is a clear bearish movement and is bound to move lower. The support line may create a reversal or breakout so be cautious. If a breakout occurs the 200 day moving average is the next target.
NZDSGD Short OneImportan Note:
1. Trendline is break and Daily trend continuation.
2. OBV trendline breaout with good direction.
3. Volume is overpower with energy.
Trade with care.
Extoic pair tight squeeze look for large breakout currently in narrow range coming out of small uptrend look for the trend to continue
