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U.S. Dollar / Singapore Dollar

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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. _____________________________________________________________________________________________________________________ Thank you for your support ;) GWBFX
Long
by GWBFX
2
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.
by makuchaku
2
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.
by lehlogonolo
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. ––––– 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.
Long
by InkyGrip
2
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....
by dchua1969
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.
Short
by RlcTrading
1