USD SGD BUY (US DOLLAR - SINGAPORE DOLLAR)Hi there. Price is forming a reversal pattern to change its direction. Watch strong price action at the current levels for buy.
USDSGD trade ideas
USDSGD long trade ideaPlan: wait for the price to bounce off from demand zone --> wait for the rejection candle pattern to form e.g. bullish engulfing, pinbar, etc --> BUY
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions.
Traders!! if you like my ideas and do take the same trade as I do, please write it in a comment so we can manage the trade together.
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Thank you for your support ;)
GWBFX
USDSGD /Long/ DMy prediction is that USDSGD will go Long/D, the support is not breaking, but we have to wait for more consolidation.
GoodLuck!
USDSGD (4H) Backtest : 62% Win rate (12 R), 85% non-losers!Detailed backtest results
- prnt.sc
- Win/Loss ratio : 400%
- Non losers : 85%
- Net R : 12 R across 13 trades
- Avg R / winner = 1.5
- Avg R / trade = 0.92
Icons on the chart
- Thumbs up : Trade was a win
- Thumbs down : Trade was a loss
- Circle with a cross : Trade was breakeven
- Cross : Did not take the trade due to one or more trade qualifiers
- Bug : I could not understand how to trade, so avoided trading
Trade qualifiers
- $ icon : DXY was either supporting the trade direction (and we took the trade as win/loss/BE), or DXY was not supporting the trade direction (and trade was not taken)
- Dollar bill icon : Liquidity was present behind the stop loss
How to read icons on chart?
- Thumbs up + $ icon => Winner trade, direction was supported by DXY
- Thumbs down + $ icon => Loser trade, direction was supported by DXY
- Cross + $ icon => Trade skipped because DXY didn't support trade direction (though a liquidity hunt wasn't an issue)
- Cross + $ icon + Dollar bill => Trade skipped because DXY didn't support trade direction & a potential liquidity hunt was due near the stop loss
- Cross + Dollar bill => Trade skipped because a potential liquidity hunt was due near the stop loss (though DXY did support trade direction)
Indicators at bottom of chart
1) Count of HH/LL for the pair - shows when market structure is broken => Also generates a signal on the main chart (highlighted vertical lines)
2) Count of HH/LL for DXY - shows how the pair is moving in correlation to DXY
3) Correlation of the pair with DXY - just to give an idea about how the correlation is moving
Strategy
Pickup a pair which is highly correlated to DXY
AND
Wait for market structure to break, then trade the retest of that zone. Zone is drawn using the first candle which crossed the pivot high/low to begin trapping the traders
AND
Liquidity in form of equal highs/lows should not be present behind the stop loss
AND
Since the pair is highly correlated to DXY , the formation of HH/LL in DXY should support the trade's direction at the time of zone's formation
Risk management
1) Reduce 50% at 1R => Trade becomes risk free
2) Reduce further 25% at 2R AND move SL to break-even
3) Close trade at 3R
4) Winner = 1.75R
Variables
Avg winner = 1.75R
PS1 : Please excuse the busy chart!
PS2 : This backtest was performed right to left, so could include visibility bias. However, I tried to follow the strategy rules in all trades.
USDSGD: Momentum At PlayIf You have a different point of view Please kindly comment or post your chart image below and Substantiate.
*Note this my projection of price behavior and may be used for trading purpose, However CFDs are complex instruments and involve high Risk and may not be suitable for all investors. Past performance does not guarantee future results. All predictions are strictly speculative and for educational purposes only therefore Use effective risk management.Trading foreign exchange carries a high level of risk.
USDSGD double bottom and go 🦐USDSGD on the daily chart bounced over a weekly support at 1.35400.
The price started then a new impulse and soon will test a minor resistance.
IF the price will break and close above the structure we will set a nice long order according to Plancton's strategy.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
USDCNH ANALYSISUSDSGD is in uptrendline
Price is based above key level at 1.3623
Above SMA 100
RSI is above level 50
Above HVN at level 1.3572
It's expected for the continuation of bullish momentum to target first resistance level at 1.3718
then finally target supply zone at level 1.3794
USDSGD Buy setupEntry: 1.3531
Stoploss: 1.3526
Risk: 5 pips
Reward: 90-122pips minimum
Risk/Reward: 1:36
Supplementary information
3 possible buy entries,
2 aggressive entries for traders with high risk tolerance
My personal preference is to place a limit order @ the low (1.3531) to minimise risk
Comment: The setup becomes invalid if price breaks 1.36245
Next Week Forecast for USDSGD on Daily time frame
The pair (US Dollar / Singapore Dollar) is somehow taking a rest (range bound)
It is highly likely that the uptrend starts soon.
And nothing can come in the way of the price until it reaches the target.
Tell me what you think of this chart. Thank you!
USDSGD, The trade of the month!It will be a good trade if we will catch the bounce I showed on the chart.
But, don't hurry! We should wait for confirmation...
The potential profit will be 3...5 times bigger than the risk.
Push like if you think this is a useful idea!
Before to trade my ideas make your own analysis.
Write your comments and questions here!
Thanks for your support!
Another reason to go shopping in Amazon , hahaFirst, Christmas is round the corner.
Secondly, maybe not the most to most shoppers are exchange rate, especially if it is a one-off purchase.
Being a trader and investor, I guess this is some kind of occupational hazard.
Chart tells me it is likely to fall further to 1.344 but at current rate, it is much better compared to March this year when it was at a high of 1.465.
Buying a product at US$100 would require me to part SGD 134 compared to SGD146 , a savings of SGD12. So, if you can wait, consolidate your shopping list and as time passes, nearer to the festive season, the merchants might dangle more carrots for you.
So that is best of both world, haha.
Will I short now ? No, the RRR is not worth it and the chance of rebounding is higher now....
Sgd/Usd (Im Selling)I have 2 trades open. They are both at only 0.01
My 2 take profits are on the chart. This chart is very clear! Price made many tops on the daily and has started its move down.
If you trade this big , you could get caught in days of ranges , get aggervated and close the trade that should be a winner , but was a loss instead. This kind of trading has changed the way I have been trading as I was losing many trades and now im starting to win trades as I trade smaller , hold longer, and sleep at night.
The longer I stayed awake , the more i messed up!
So i learned that I was always the problem and not the markets. Everyone has losses , its part of this. Everyone has losing weeks. But trading as small as i possibly can has actually changed my trading for life.
USDSGD, Possible scenarios...We can make our decisions near the Support Level using these examples.
If the price will approach slowly we should wait for the breakout.
If it will happen fast we can trade buy!
Dear followers, the best "Thank you" will be your likes and comments!
Before to trade my ideas make your own analysis.
Thanks for your support!
SHORT on USDSGDUSDSGD Broke and is Retesting the previous S/Z zone.
We could see a further push to the downside
