Waiting for a pullback from BTC until 44.5k so as to enter a short-term short position. A limit can be placed at the highlighted level: still not sure if it'll be a mid-depth retracement for the uprise or a deep one to make more investors close their positions. I suggest to close 50 to 75% of the position, to take some profits. Let's see how it plays!
I see a quite significant weakening of this momentary downtrend on USDSGD, as the indicator shows us, reason for which I believe a long entry could be seen in the next weeks. I'd like to split this trade into two: a medium term one and a long term one. The first one has a 4.00 Risk/Reward ratio which is not bad to me, instead the second one has a more than 3 ratio...
In this clear uptrend, we can identify a triple top once the prices overcame that important resistance level (on the left side) which to me can turn into a solid support now. Let's wait for the prices to retrace from the last descent to enter a safe trade with a nice r/r ratio (2.60).
I entered this trade this morning (29-06 - GMT+2) with a long position, already in profit but I see a good potential for a further development. Be careful at the next resistance level at 1.39825 and at the 200 MA (the one in black in the chart), which could stop the uptrend at approximately 1.40200.
Let me know what you guys did in this one and if you already entered.
Possibility of a short entrance after a breakout of the lower trend line, it retested and now I think it could go around 250+ pips down in a couple of days. I placed a tight stop loss 'cause I think that if it bounces up again, it would be a fakeout.
Leave a comment and let me know if you agree or not and what do you think this pair will do.
Follow for more ideas.
As you can see in the chart, I think GBP will gain power over CAD after breaking the descending trendline, I think it will retest the support to jumpstart towards the previous strong resistance.
