38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
SGDJPY trade ideas
Breakout Test?The green shaded area is the Monthly tenkan area which was broken in the 1st half of October,it was also the weekly Kijun back then. This breakout was never tested and we know if price is to really go further it needs impetus from a breakout test. Our trade is this breakout test. So we take this trade on the daily after having broken the daily tenkan to the downside and tested it, this daily tenkan test on 18 November created what looks like a lower high for now, which is good confluence for our short. The Kijun is still below tenkan on the daily (normally we want the opposite for a short) but we will take the trade anyway because on weekly we have a flat tenkan,indicating loss of momentum for the upside.
Entry: 79.85
SL: 80.368 ( slightly above our lower high)
TP: 78.975 (weekly and monthly tenkan zones)
NB: Manage your risk so you can trade another day!!
Sgd/Jpy possible cypher c point hereIf weekend gap and the priceaction that follows it respects the current 141 fib extention we could see a cypher pattern in the making.
For better r:r then trading the completion zone i like to trade C point till D point.
This does however require a little bit more confirmation.
For how it looks now my target will be the completion zone of the cypher, stop can be super tight once we get the confirmation on monday, since the idea is "wrong" on a break of 141 fib extention anyways.
Trade safe.
Sgd/Jpyrising wedge from downtrend into fib zone with divergence,
Chart on ctrader = check
sl minimal above the highs.
Breakout1. Towards the short-term trend; absence of the long term trend (W chart - flat);
2. Tightening to the previously tested price level.
A Great Weekly Forecast and Technical Analysis for SGDJPYMidterm forecast:
78.70 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 77.10 on 10/03/2019, so more gains to resistance(s) 79.75, 80.85, 81.65 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index ( RSI ) is 68.
Trading suggestion:
By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
A Great Weekly Forecast and Technical Analysis for SGDJPYMidterm forecast:
78.70 is a major support, while this level is not broken, the Midterm wave will be uptrend.
Technical analysis:
The RSI downtrend #1 is broken, so the probability of continuation of uptrend is increased.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
A trough is formed in daily chart at 77.10 on 10/03/2019, so more gains to resistance(s) 79.75, 80.85, 81.65 and more heights is expected.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 65.
Trading suggestion:
By appearing primary signs of entering the market, new entry zone and short-term targets would be published.
its going down hello and welcome traders big opportunity SGDJPY is going down first we have divisions signal in RSI witch is great
also in the daily fram it was going up then its bouncing in the top to go down
also in the hourly chart a good RSI divisions shown to go down to the fors arrow could and could be more
Possible SGD/JPY Short Position!!SMP TRADING
SELF DEVELOPMENT/METHODOLOGY/PSYCHOLOGY
SMP Strategy
Chart time frame - H4
Timeframe - 2-4 Days
A – Activating Event
Market will meet resistance in zone @ current levels - ... . In order to enter into this trade, the pair MUST be in line with my Entry Procedure....
B – Beliefs
Market will move towards the first Target 1 level @ 77.40
C - Fundamentals that may affect the pair
USD Retails sales on the 16th Oct @ 22:30 AEST
D - Trade Management
Entered @ .....
Stop Loss @ .....
Trailing Stop Loss@.....
Target 1 @ 77.400
Target 2 @ ....
Risk/Reward @ 3.5.1
Happy trading :)
Follow your Trading plan, Remain disciplined and Keep learning !!
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This information is not a recommendation to buy or sell. It is to be used for educational purposes only!
Japese Yen (JPY) Demolition? Time for Singapore Dollar (SGD)?Couldn't pass this guys! But I think JPY's time as a "safe haven" currency is over. I'm yet to learn of the underlying fundamentals but there are a lot of pluses in the monthly chart. And they are rare! Since the monthly chart is king, I'll take the cues from the double bar bull reversal pattern clear in the monthly chart and call for SGD LONGs in the daily and 4-Hour charts. What's more, September's bull bar was below the lower BB meaning there was a degree of under-valuation. Therefore, as the market seeks for equilibrium, it is likely that prices will rally to 83 or higher by Q1 2020. It's a long hold but you will be earning positive swaps, so no big deal!
SGDJPY BEARISH TREND BIAS : BEARISH REASON : This trade is based on my algorithm as well as price action. Price is trending down on the daily however it has pulled back recently forming a short term uptrend and has now rejected to push up further. The red line are my daily S&R levels. After the first resistance level was rejected you can see that price has pushed down and came back up to test a new lower level of resistance. Seeing that we have a few days of price stalling and some wicks to the upside this tells us that price is failing to push higher and sellers on coming in to continue to downtrend.
