GBP/SGD part 2: 4hrYou see the price action and the channel. All the pound pairs broke levels and hit levels, then made what looks to be diagonal flags. You may be trading into a correction so understand that. As far as take profit, this is kind of a hard one to explain, but if you did catch a buy, might want to let some run just in case to see what it does. If it were to drop down and break fork, well that would be an even better entry. At this point I don't know that it will. It either completed a diagonal and will push out, or it can keep chopping down in channel, but the pound looks like it wants to correct a hair... But be careful.
GBPSGD trade ideas
GBPSGD long term long opportunityThe exotic pair is showing bullish strength over the past months.
Monthly and Weekly are in an uptrend. 2 bullish engulf patterns printed on the Monthly.
Price broke daily upward momentum, indicating correction phase has started.
Waiting patiently for price to return to Weekly demand zone.
If you are applying Supply & Demand methodology in your trading plan, or mere interest,
Be sure to follow me on Tradingview and share your views.
GBPSGD Position trade take 2Second reentry attempt. Will abandon trade idea if another loss
-21 Week ascending triangle
-Intraday breach of 1.833 which has proved a significant level
-Favorable R/R with stop set as intraday swing level
-Measured move up to 1.925
40 basis points intraday
An additional 40 basis points if R/R remains favorable at the daily close
*Not investment advice*
GBPSGD SETUPHello Everyone, this is the first analysis I ever place on an exotic currency. I am looking at a flag pattern forming, If this resistance is held then we can look into price making an impusle to ext. lvl. RSI is also showing divergence for added confirmation. Watch this pair for the big move, trade it safely, trade with a plan, stick to your plan and you will stay in profit blue! Show some support :)