SG30SGD $SG30SGD Initial ShortSG30SGD $SG30SGD Initial Short. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
Singapore 30
SG30SGD Resistance zoneSG30SGD Resistance zone possible downtrend. It find itself in a zone which acted as support and resistance multiples times in the past so it is more than possible that it happens again.
Short SG30SGDSG30SGD is on a downtrend channel and any extreme bullish move is a great opportunity to take position to follow through.
STI breaks down below 6 week trading rangeLooking at STI Weekly chart, price was in range for about 6 weeks and had a significant break down.
It will seem that the long term downtrend channel may be as a temporary support and further breakdown back into the downtrend channel will likely resume bearish outlook.
The past movement indicate highly cautious move, sell into exuberant strength seems higher probability than attempt for range trading.
SG Market Technicals Ahead (7 Dec – 11 Dec 2020)The Straits Times Index (STI) retraced -0.56% (-15.93 points), implying the play of the weekly Bearish Shooting Star candle highlighted last week. This retracement also coincide with the gap resistance zone of 2,900-2,960 levels.
However, STI have exhibited its first major moving average golden cross (50DMA vs 200DMA) which was last witnessed in March 2019. The significance of this major MA golden cross is a midterm predictor for direction of its market index in the next 6-9 months. The major support to watch at this junction is at 2,785 level, a minor classical support established last week.
#Singapore #Singapore30 #index #IndicesThe Singapore30 is encased within a bullish triangle on the 15 minute chart.
R/R = 5.09%
SG30 LongBreak of 100 and 200 MAs together with respective trend line. Pullback managed to hold above hourly 100MA. Have a bullish bias.
SG30 SGD BUY (SINGAPORE 30 INDEX - SINGAPORE DOLLAR)Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
Singapore Strait Times Index (STI) is still bearishSingapore Strait Times Index ( STI) is still bearish with failure to break/close above important high.
End of Sep concludes the end of 3rd quarter trading.
If STI is going to close below 3200, this shows that STI is closing low towards the quarter.
Targeting 2800 as a strong support.
SGDUSD Continues Moves Within a RangeWhile USDSGD began the past week of trading with a downward moves, these were quickly reversed by the end of the week and the price ended up where it started: Clearly, traders can see over the past few months that USDSGD prefers to trade within its range of horizontal resistance at around 1.3612 and of support between around 1.3442 and 1.3473. Bull bear indicator signals oversold while RSI is less convinced of a move in either direction. Meanwhile, a whole host of exponential moving averages suggests that the trend is further down. Overall, the in general picture for USDSGD remains what it was last week and the week prior which is to short.
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Falling Wedge + Divergence on SG30! Nice falling break, watch for a breakout.
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Confirmed resistance at 370.04th consecutive day of rejection.
Shooting Star and Doji fully formed.
Confirmed resistance area at 370.0.
Market overbought by looking at the Stochastic.
Singapore30 should give us a potential short opportunity.
K.
