12/2/19 Long USDSGD
Updated
Recent price action shows that the trend has change in the 240M TF. Price action is moving higher, challenging and breaking SZ and creating new DZ along the way.
Anticipating price may correct after challenging the 60M level on level SZ. 2 approaches to take the long trade
1. Place a set & forget trade at the 120M DZ is identified to take a long trade at 1.35863-1.35797
2. Wait for MMS signal for confirmation trade
Anticipating price may correct after challenging the 60M level on level SZ. 2 approaches to take the long trade
1. Place a set & forget trade at the 120M DZ is identified to take a long trade at 1.35863-1.35797
2. Wait for MMS signal for confirmation trade
Trade closed: stop reached
The identified DZ only manage to provide a gain of 12.1 pips before price retested and broke the DZ.Anticipated trend action to head higher was also rejected as price action sees price heads lower and forming lower lows and highs
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