CHF/SGD is weak and we can expect it to continue it's bearish trend further below on the long term this next few weeks *as long as the 50 EMA holds as resistance on the daily timeframe.
It may make some pullbacks up but it is nothing to worry about as long as it never finds support. The reasonw why I leave my SL higher than the 50 EMA just in case.
This is a long term trade and the TP target may get changed during the run as the pair makes its move and let's us know how it's doing.
The full range and duration of the trade could be up to 2 months.
I personally have risked 3% on this pair.
Remember, you're not in trading for the quick profits but for the long term gains.
Trade safe.
It may make some pullbacks up but it is nothing to worry about as long as it never finds support. The reasonw why I leave my SL higher than the 50 EMA just in case.
This is a long term trade and the TP target may get changed during the run as the pair makes its move and let's us know how it's doing.
The full range and duration of the trade could be up to 2 months.
I personally have risked 3% on this pair.
Remember, you're not in trading for the quick profits but for the long term gains.
Trade safe.
Note
Keep in mind that there is a possibility that it may do a pullback up back to the 50 EMA on the daily depending on how things goes before the break down below.Note
So far so great, keep holding.. It'll be a long time till it reaches TP.Note
I forgot to update this idea. Hopefully you have closed your position at 1.3685 since it wouldn't continue down. There is currently a consolidation going on, we will see in the next few days which direction it's going to go. If it stays strong, it'll push higher up. If it breaks below the 50 ema on 4H then down. Good opportunity is going to present itself.Note
If you have a short long term position still open on this pair, make sure you close it. We might see a reversal back up as it establishes supportNote
We will now see a move higher up on this pair as it's holding strong above the 8H 50 EMA as well as have convergence with MACD. Check my last signal on SGDCHF for more information of this upcoming move.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.