SGDJPY trade ideas
Long observed SGDJPYHello Traders,
Long opportunity for SGDJPY
R:R approx 1 to 1
I will be honored for your reflections.
Thank you.
Short Observed SGDJPY intradayHello Traders,
Short opportunity for SGDJPY.
R:R approx 1 to 1.5+
Hope to hear your reflections on this set - up.
Trade with care.
Thnk you.
SGD/JPY 1H Chart: Several patterns at playThe pair’s movement has been guided by several patterns, the most eminent of which are a long-term ascending wedge (valid since mid-2016) and two shorter-term patterns—a channel up and descending wedge.
The Singapore Dollar bounced off the upper line of all three patterns on October 25 when it found the resistance of the weekly R1 at 83.74 and is now weakening against the Yen in the previously-mentioned descending wedge.
It should also be noted that the pair breached a three-month channel up last Friday. This factor together with characteristics of the junior wedge suggest that the pair might form a retracement near the 83.50/60 mark prior to resuming its movement down to the lower channel boundary circa 82.60/80.
Given that the rate faces a significant resistance area set by the 55-, 100– and 200-hour SMAs and the weekly PP, the rate might not even gain enough strength for the retracement, thus continuing to trade lower both in short- and medium term.
SGDJPY might be uptrend, still waiting for Chikou Span validateI think that if the chikou span line gets over the price then there could be an uptrend for it
SGD/JPY 1H Chart: Channel UpThe Singapore Dollar has formed a near-term ascending channel against the Yen. The pair has currently reached its 2017 high, thus it may edge lower in the upcoming days. This assumption may be supported by trend indicators that demonstrate the weakening of the up-trend. Nevertheless, there is still some slight upside potential that may push the Dollar towards the upper channel boundary. By and large, the up-trend has been effectively supported by the 55-hour SMA that should be breached in order to confirm the prevalence of the bearish sentiment.
SGDJPY 1d sell the retestAlarm went off on this one.
- Price reacted above 81.50, 82.00.
- Price recently broke 81.00 support area.
- Now retesting as resistance, retesting fast MA.
Gartley Pattern Let's see if we can make some pips earlier in this week.This Gartley appears in this tf but if you see in the Daily chart this pair is in a support level , if the price hits target one ,then i close the half of the position, adjust the stop loss to break even and then we can wait without stress to see if price hits target 2 .
SGD/JPY 1H Chart: Channel DownFollowing a five-week appreciation against the Japanese Yen that resulted in the formation of a rising wedge, the Singapore Dollar breached the given pattern to the downside. Consequently, the last wave downwards formed a short-term channel down in which the rate has been trading since. From theoretical point of view, the Singapore Dollar should make a retracement from the bottom wedge boundary prior to edging lower. This level intersects with the 200-hour SMA circa 81.90 and the upper channel line that is likely to function as a reversal point. From the downside, the pair is supported by the 100– and 55-hour SMAs at 81.72 and 81.62, accordingly. However, it is expected that the Singapore Dollar surpasses these levels and tries to test the bottom channel boundary in the 81.20/80.90 area.
Elliot wave and cci divergence.... bearish moveSingapor dollar wil start maybe today or tomorrow... a bearish move
SGDJPY: Fall coming soonWe had an impulse on H4 TF, now looking for the current flag formation to be completed to enter the market.
