Reason2Enter:
Mid Term - USDSGD on selling pressure Since February 16.
Overall bias MT is still downwards. However price met strong buying pressure @ 1.3422 that cant seem to penetrate through just yet.
Trade idea: Sell when price hit obvious Resistance level @ 1.3700 area, Intraday, 5min, 1hr, 4hr.
Stop loss 50 - 100pips depends on your TF.
Take profit around...
Price sell below 1.2900, a significant support level forming a range.
Simple idea.
Buy at bottom of the range and sell at the top.
Only thing to caution is, both top and bottom have 2 touches, so this pattern has less lower probability of working.
