JPYSGD trade ideas
Sell Limit or Buy Limit> Sell if the conditions will met
> buy if the conditions will met
> Conditions plotted on the chart
LONG TERM view of SGD/JPY - LONG LONG TERM view of SGD/JPY
Just trying out the Gann Fan technique . Let me know if im doing it right :)
Thanks for viewing ! This is not financial advice.
4H SGD/JPY LONGSGD/JPY is following a bullish trendline on the weekly timeframe. It has rejected twice on the monthly forming a double bottom. It is likely we will see this pair move up from here to the previous high for a re-test of this area.
SGDJPY buysTechnicals:
D1 downtrend upside breakout-retracement to fibonacci levels
Price reaching support
SGDJPY - BUY on Daily Broke downtrend with strong impulsive buying
pullback at fibo zone
BUY with new uptrend
SGDJPY Sell SignalPattern: Bearish Megaphone since early 2018.
Signal: Bearish as the price hit the 1D MA200 and that has been a 2 year Sell Signal except for once.
Target 75.000.
** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
SGDJPY Divergence
1. 8 Ema has crossed over 21 ema
2. Price action has broke the 50 EMA
3. TDI showing some bearish signals on the RSI
4. Trendline broken
5. If you switch to 4 hour chart you are able to see that price action shows some rejection of major structure.
6. Divergence on both 1 HR and 4HR chart. More prominent on 1HR chart.
7. Breaks Asian Range
**RR could be better
Apologies for the late post...
SGDJPY 31/5/2020SGDJPY has been trading in a trading range between 74.5 and 76 since mid-April.
It looks like it has created a massive inverse head and shoulders inside the range that completed last Friday.
The target of the head and shoulder is around 78 but there are few resistant zones along the way that might pause or stop the price from reaching the price target.
Those levels are good to take some profit off or hedge your long trade if you want to swing trade this setup. (I'm going to analyze the price action around those levels if and when the price gets there.)
Considering the general weakness of JPY, I believe there is a good chance for this setup to work out and hit some of the targets.
Short to weekly S3Price in downtrend and below weekly pivot range.
For educational purposes only.
Top Absolute Correlation 1 hr
1 SGDJPY - SEKJPY 88.6%
2 SGDJPY - NOKJPY 88.3%
3 SGDJPY - AUDJPY 86.2%
4 SGDJPY - JPYX -84.5%
5 SGDJPY - NZDJPY 83.0%
6 SGDJPY - USDSEK -81.0%
7 SGDJPY - AUDCHF 80.0%
8 SGDJPY - EURSEK -78.8%
9 SGDJPY - ZARJPY 78.4%
10 SGDJPY - USDCAD -78.3%
