USDSGD-Expecting one more push upside near 1.4300 and then fall?Market Commentary:
First have an look for the positional trend i shared here previous....if you are a follower of me...and sometimes i will share the counter trend trade also in 15 mins and 1hr...but that is risky ones...so if the trend is bearish or bullish, if i am expecting the correction...book the profit there and wait the correction to end and again go with the trend....DONT TRADE THE COUNTER TRADE SETUP...you will took loss too...try to identify the sort term pull back and the long term pull back after that took small lots in the short term PB with strict stop and go with big lots in the trend side that is long term. I WONT TOOK ALL THE TRADE PLAN SHARED HERE...
Read the market commentary inside the chart what i shared here carefully and try to learn Elliott waves...otherwise its tough to understand the market commentary and my analysis. I wont give a entry, stop loss and take profit in my chart...it is only for EDUCATIONAL PURPOSE and i am sharing how i am analysing the pair and labelling them according to the Elliott wave theory...I AM JUST SHOWING THE TREND HOW IT MAY GO AND MY VIEW(it may wrong too)..so DON'T FOLLOW BLINDLY MY CHART..take this as a reference and if it correlate to you strategy took the trade as per your strategy...DON'T ASK ABOUT YOUR RUNNING TRADES i wont comment on them and I WONT SUGGEST TO TAKE MY TRADE SETUP.
SGDUSD trade ideas
USDSGD - TP1 hit, close to TP2!For more information on our strategy please view our 'Scripts' page on our Trading view profile.
Our V2 strategy shows the SL and multiple TPs on the chart too - these are customisable based on the ATR of each pair.
We have set these so that TP1 is 1:1 TP2 is 1:2 TP3 is 1:3 RR.
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Blue FX
USD/SGD will bounce back from the “Rising Widening Wedge”The pair will bounce back from the “Rising Widening Wedge” pattern support line. Singapore is taking a toll on the coronavirus pandemic. As the largest investment hub in Asia and the fourth in the world, Singapore suffers from a lack of foreign direct investments (FDI), especially from the United States. In Asia, Singapore and China took the most hit from COVID-19. US investors are choosing the US dollar as their safe-haven investment during this pandemic. The greenback is particularly attractive due to the notion that America will always find a way to keep its economy afloat. Among the fiscal measures taken by the US government and the Federal Reserve was increasing liquidity in the market. In total, the stimulus by these institutions amounted to $5 trillion. The government and its central bank are also looking to distribute the fourth phase of stimulus to the public to prevent its economy from collapsing.
USDSGD outlookPrice still in a bullish trend with a good uptrend line with multiple confirmations. Waiting for the break of the recent high to buy.
Price broke the downtrend line and 200SMA, retested it and closed higher on Friday. Target levels go in line with Fibonacci levels.
Sell option on the break of the uptrend line, if the sentiment turns against USD.
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USDSGD - Support Is Set Hello TV family
We found support at 0.618 fib retracement.
Broke the descending trendline bullish.
The rising trendline is acting as support.
Short and long term targets are on the chart.
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