ANALYSIS OF GBPSGD 2.12.2019The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 1.7710
• Take Profit Level: 1.7850 (140 pips)
If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 1.7535
• Take Profit Level: 1.7485 (50 pips)
USDJPY
A possible long position at the breakout of the level 109.70
GOLD
A possible short position in the breakdown of the level 1452.00
USDCHF
A possible long position at the breakout of the level 1.0010
EURUSD
A possible long position at the breakout of the level 1.1030
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GBPSGD trade ideas
GBPSGD: Optimal Buy entry.The pair is trading within a 2 year 1M Bearish Megaphone pattern that is currently testing its Lower High trend line (hence the neutral RSI = 48.838, ADX = 27.266, Highs/Lows = 0.0000).
What's really interesting is the fact that this pattern is symmetrical to the 2016/2017 rise. Based on that if the price rebounds now above 1.7200, there are high chances to break the pattern aggressively to the upside. In our opinion it is safer to buy when/ if the Golden Cross (MA50 crossing over the MA200) takes place. The target is entirely up to you but 1.8700 can be a good benchmark.
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Comments and likes are greatly appreciated.
GBPSGD LongDue the to price breaking the previous (A) top the pattern has now become a Bullish Expanded B wave Flat
Have a Bullish outlook in the short term
Still believe we will have a 5 wave down breaking previous bottom on the Daily but will have to monitor chart
If it breaks the top of wave (2) on the Daily then pattern and Forecast will have to be updated
GBPSGD can continue falling down..The price has broke Support/Resistance Zone and can continue falling down
to the Mirror Level 1.74437.
The best entry will be after the pullback to zone.
Before to trade my ideas make your own analyze.
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GBPSGD Bearish 1 HR Analysis Based on the daily time frame GBPSGD has been trending up heavily. However based on my knowledge in the markets I've spotted a Gartley Harmonic pattern on the daily, hence my bias is bearish depending if current price continues to reject my orange zone.
The Red Lines Represent My S & R Levels
The orange zone is my D point for a daily bearish Gartley that has completed.