EURSGD trade ideas
Playing Both Sides Until a BreakoutThis market is in severe consolidation mode after forming a solid trend higher.
Whilst a breakout with the longer term trend would be favorable for longer term traders, for shorter term traders there are other opportunities.
Price is trading within a clear-cut range.
Whilst we do not want to get caught trading within the middle of the range and chop, trades can be found from the range highs and lows (support and resistance).
EURSGD resistance turning into supportIn this clear uptrend, we can identify a triple top once the prices overcame that important resistance level (on the left side) which to me can turn into a solid support now. Let's wait for the prices to retrace from the last descent to enter a safe trade with a nice r/r ratio (2.60).
EURSGDHello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied