GBPSGD trade ideas
Correction DoneWe've corrected the January rise for almost 50% and have reached the rising trendline. A renewed attempt to rise may be expected.
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
Bottom for a RetracementThe fall came to a halt at least temporarily. Thus I am expecting a certain corrective rise at least.
GBPSGD - 1a - 181102 - SHORT - OANDA - AT - 8H - (RRR 3.66)GBPSGD - 1a - 181102 - SHORT - OANDA - AT - 8H - (RRR 3.66)
CorrectedAfter the break out of the downward channel the way shall lead upward. A retracement towards the top of the channel was likely and has been taken place now. Thus the way may be clear for a rise, even a substantial.
Long AgainI got stopped in again after having been stopped out yesterday. After the breakout of the downward channel existing since October the way shall be upward only.
BottomNo idea what kind of Brexit we will see after tomorrows session of Britain's parliament. But the chart tells me that we see a temporair bottom which may result in a retracement of yesterday's peak.
GBPSGD - 2a - 190115 - SHORT - OANDA - AT - 12H - (RRR 3.66)GBPSGD - 2a - 190115 - SHORT - OANDA - AT - 12H - (RRR 3.66)
On the Upper Side of the Trading ChannelWe are holding within a long term trading channel and shall face another attempt to confirm its existence. I am taking the missing momentum at the present level as a sign of such a coming attempt.
GBP/SGD SHORTThe Great British pound vs Singapore dollar currency pair is in a massive downtrend on the higher (daily and weekly) timeframes, and it is forming a symmetrical (isometric) triangle on the lower timeframes. Now it is important to note that there is going to be a lot of noise on the pound pairs for the coming weeks due to ongoing Brexit woes, but sell orders on this pair are a much safer bet considering the lack of confidence in what Theresa May can deliver to the British people.
This symmetrical triangle is a signal for selling this market since the higher timeframes show a downtrend.
As always, wait for a breakout before doing anything you will regret.
GBP SGD Forecast: Intraday Timeframe AnalysisThe Conclusion for today’s GBP SGD forecast: Current price swing should reach between 1.77324 and 1.76335. Resistance is offered by the upper boundary of the bearish channel at ~1.80192 upon price closing above 1.77324.
Over 8 months of price action is investigated on the 4 hour timeframe of the GBPSGD from a price peak on April 17, 2018 to current date. A bearish price channel is used to capture price action for the duration mentioned, with 1.69961 marking the bottom of the channel.
1.77324 and 1.76335 offers resistance for price and therefore price retesting the 1.69961.
A break above the upper boundary of the resistance also needs to be considered as it presents the potential for price to target ~1.80192 which is the extreme of the bearish channel to the upside.
GBPSGD Butterfly Pattern plus MACD DivergenceI'm fairly new to all of this so take that into consideration but the butterfly pattern plus MACD divergence.
GBPSGD Buy IdeaGBPSGD Buy Idea @Monthly Demand Zone (1.7460 - 1.6975)
Buy Stop: 1.7396
Stop Loss: 1.6841
Take Profit: 1.8449
Risk Management = 0.01/$100, With Stop Loss
Risk Management = 0.01/$200, No Stop Loss
Recommended Leverage not to exceed 1:50
Recommended Risk Ratio 1:2 – 1:3
Close partially the contract once it reaches 50% of profit, Move stop loss over the entry level
Close partially the contract once it reaches 80% of the profit
RetracedThe pound is in a downward trend and has retraced its January rise, i.e. it may continue its decline now.
GBPSGD Short Daily/4-hourThis is a short off of a daily swing level where an inside day candle has been printed. Price has just broke out of the inside day candle in the 4-hour so it may drop from here. Looking for a measured move objective down to support
Falling TrendHowever this is not a channel but may be a large falling triangle. Nevertheless at first we shall see a futher decline following the narrowing trendlines.
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
