Yeah..... My thoughts.....Correction time....The reverse is a bout to happen. Let me know what you think...
SGDHKD trade ideas
Forex Trading Signal: SGDHKDDirection: Buy
Enter Price: 6.03332
Take Profit: 6.05102333
Stop Loss: 6.00323333
Signal Justification:
The trading signal has been generated using the EASY Quantum Ai strategy. This strategy incorporates advanced algorithmic analysis and real-time data to predict market movements. Several key indicators and factors have played a crucial role in determining this buy signal for SGDHKD.
1. Trend Momentum: Recent momentum indicators suggest a positive uptrend for SGDHKD. The price chart shows a consistent pattern of higher lows, indicating bullish sentiment.
2. Support and Resistance Levels: The support level close to 6.00323333 suggests a solid floor, reducing the risk of a significant downward move. The target take profit level at 6.05102333 aligns with recent resistance levels, offering a realistic profit potential.
3. Economic Factors: Economic data from Singapore and Hong Kong indicate shifts in inflation rates and interest policies that favor the SGD over HKD. The macroeconomic environment supports a strengthening SGD.
4. Technical Analysis: Key technical indicators such as moving averages and RSI (Relative Strength Index) reinforce the buy recommendation by signaling an oversold condition that is due for a rebound.
This forecast is based on comprehensive data analysis as per the strategy guidelines. However, always ensure to consider market conditions and adjust entries based on your own risk management criteria.
SGDHKD in consolidation phaseSGDHKD is in consolidation phase. Trade has been set according to the breakout on support and ressitance.
SGDHKD (Bearish Trend in 1H TF)SGDHKD is showing Bearish Trend in 1H Time Frame. As you can see, after making consecutive Higher Highs and Lows, Advancing Phase comes to End. After Advancing Phase, then the price moved in Distribution Phase and after breaking Distribution Phase as I mark it on the chart then it enters the Declining Phase So, the Entry Point will be 5.8177 with Stop Loss of 5.8503. Take Profit 1 will be 5.7745 and Take Profit 5.7366.
Catching a break on HKDSGDAnother B/x wave in a much larger bearish trend. Goals in green, invalidation is in red. Not financial advice.
SGDHKD Buy SignalPattern: Triangle on 1W.
Signal: Bullish as the price is pulling back after near contact with the 1W MA50, which has been a bullish continuation pattern n 2016 and 2017.
Target: 5.700 (the bottom of the High Volatility Zone and inner Lower High trend-line).
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Recent SGDHKD signal:
SGDHKD: Long term Buy opportunity on the 1W Support.The pair marginally broke the 1W Support but so far only on a candle wick. Since it has rebounded back above that danger level, we can consider that the Support is holding. The 1W chart has turned nearly oversold (RSI = 27.767, MACD = -0.073, ADX = 36.545) and we treat this as the optimal buy opportunity for the long term.
The long term pattern is as you see a Descending Triangle and besides the 1W Support, the Lower Highs are also clear. The first time the price touched the 5.3350 1W Support in January 2016, it rebounded to the 0.5 Fibonacci level of its last Lower High. The 0.5 level is at the moment at 5.6650 and this is our Target.
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SGDHKD Sell SignalPattern: 1D Channel Up.
Signal: Bearish as the price reached the 1W Resistance on a similar RSI sequence which previously delivered a drop.
Target: 5.7450 (above the 1D MA200).
SGDHKD Buy SignalPattern: 1W Falling Wedge.
Signal: Bullish as the price is approaching the Lower Low zone and the RSI is on bottom levels.
Target: 5.7000.
SGDHKD Buy SignalPattern: Channel Up on 4H.
Signal: Bullish as the price is rebounding on the Higher Low.
Target: 5.7700 (just below the 1D Resistance).
SGDHKD Entries for medium term scalpingPattern: Rectangle on 1D.
Signal: Scalping as long as the pattern holds.
Target: Buy Zone at 5.7670 - 5.7630, Sell Zone at 5.8250 - 5.8355.
SGDHKD Buy SignalPattern: Bullish Channel on 1D.
Signal: Long as the price has approached the support (black solid line).
Target: 5.8200.
SGDHKD Short OpportunityOur alert on this pair went off today and presents a nice short opportunity! We always want to first make sure that the position we are taking is not highly correlated with our other positions. Once all of that checks out, we should be good to execute. In this case we have a nice 4 to 1 risk reward setup. We want to set a limit order near resistance and wait for price to hit our order. Hopefully we get filled. I will update when/if we get a fill. Remember, keep your positions size and risk within your personal risk tolerance parameters. I recommend no more than 1 or 2% risk per trade. Happy trading!
Trade Parameters:
Sell Limit: 5.80310
SL: 5.90060
TP: 5.39990
SgdHkd Another Long Move AheadQuite Releiable PAttern Bonus is that after a breakout it is having a pullback adding to the longs here
Remember this pair is reciprocal to Usdsgd Pair
Trade With Care.
