I expect SGX in the short term to pull back towards 8.70 as long as it is holding below 9.38. After which, we should see a bounce reaction from 8.70 towards the alternative case target at 9.75.
Essentially, this is 2 trading ideas in 1.
Part 1: SGX to push down towards 8.70
Part 2: SGX to bounce and move higher to 9.75 thereafter.
Reason being that price is still holding above the long term ascending trendline support.
Essentially, this is 2 trading ideas in 1.
Part 1: SGX to push down towards 8.70
Part 2: SGX to bounce and move higher to 9.75 thereafter.
Reason being that price is still holding above the long term ascending trendline support.
Trade closed: target reached
1st Trading idea TP at 8.70 reached.Will probably update to see how price will move again.
It was a long shot to forecast too far into the future regarding how price would bounce after it has reached 8.70.
Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28
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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.
Suppose one of you wants to build a tower. Won’t you first sit down and estimate the cost to see if you have enough money to complete it? - Luke 14:28
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.