USDSGD Short Triggered ☄
HTF - Huge ascending channel visible on weekly and daily charts with long term highs broken followed by reversal to downside with some momentum |
LTF - Separating patterns to see the market is in a state of impulse and continuation. Current correction has clear middle section and move up to complete the pattern is a 123 wave. Recent highs just broken with ascending formation on 15 minute chart |
ENTRY - 1H high test and retrace was enough with all other confluence factors considered for me to enter with stop loss above the flag structure. Just trading my plan here
LTF - Separating patterns to see the market is in a state of impulse and continuation. Current correction has clear middle section and move up to complete the pattern is a 123 wave. Recent highs just broken with ascending formation on 15 minute chart |
ENTRY - 1H high test and retrace was enough with all other confluence factors considered for me to enter with stop loss above the flag structure. Just trading my plan here
Trade active
Trade running with trailing stop loss being moved above swing highsNote
Zooming out to the daily, if price breaks lows, bearish momentum could kick in. I'll be a little more relaxed with locking in profit in this area to allow the trade the possibility of running much further to the downside.
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