SGDUSD trade ideas
USDSGD LongWhat I see here is quite clear we have nicely broken trend line and then cute pull back to our trend line. as we were waiting for 2nd pull back to broken point of trend line to open buy position, it has quite nice R:R 1:4.
Position Open
Good Luck Everyone
USDSGD-Weekly and positional view..now bullish for (Y) wave ?Market Commentary:
LEARNING ELLIOTT WAVES IS LITTLE BIT TOUGH (FOR ME IN BEGINNING) BUT I TOOK IT AS A CHALLENGE AND THAT IS NOT IMPOSSIBLE ALSO...
First have an look for the positional trend i shared here previous....if you are a follower of me...and sometimes i will share the counter trend trade also in 15 mins and 1hr...but that is risky ones...so if the trend is bearish or bullish, if i am expecting the correction...book the profit there and wait the correction to end and again go with the trend....DONT TRADE THE COUNTER TRADE SETUP...you will took loss too...try to identify the short term pull back and the long term pull back after that took small lots in the short term PB with strict stop and go with big lots in the trend side that is long term. I WONT TOOK ALL THE TRADE PLAN SHARED HERE...
Read the market commentary inside the chart what i shared here carefully and try to learn Elliott waves...otherwise its tough to understand the market commentary and my analysis. I wont give a entry, stop loss and take profit in my chart...it is only for EDUCATIONAL PURPOSE and i am sharing how i am analyzing the pair and labeling them according to the Elliott wave theory...I AM JUST SHOWING THE TREND HOW IT MAY GO AND MY VIEW(it may wrong too)..so DON'T FOLLOW BLINDLY MY CHART..take this as a reference and if it correlate to you strategy took the trade as per your strategy...DON'T ASK ABOUT YOUR RUNNING TRADES i wont comment on them and I WONT SUGGEST TO TAKE MY TRADE SETUP.
My style of trading is different from others and I WONT PLACE A STOP...but ALL MY TRADES ARE UNDER MONEY MANAGEMENT ACCORDING TO MY ACCOUNT SIZE...i wont close the trades even in the BIG NEWS EVENTS OR SCHEDULED NEWS TOO...i am technical analyst based on trendline, channel, fib retracements, expansion, stochastic for divergence, EMA's and MA's are finding the pull backs and MAJOR IS ELLIOTT WAVES...those mentioned above are using as a TOOLS only. I am not a fundamental, sentimental trader...but only the fundamental will boost my technical analysis to reach my target or sometimes it will go against me and then i will manage the trade according to the Elliott waves alternate views...
Each and every trade plan i am sharing here has a alternate view and i am sharing only the most probabilities(70-80%) here...sometimes the other (20-30%) may market do..then i will change the wave counts and labeling according to the price action. All labeling and wave counts done by me by manually and i will keep change according to the LIVE MARKET PRICE ACTION. So dont bias, hope on my trade plans...try to learn and make your own strategy...Following is not that much easy...I AM NOT RESPONSIBLE FOR ANY LOSSES IF U TOOK THE TRADE ACCORDING TO MY TRADE PLANS....THANKS LOT..CHEERS
USDSGD - Low Rates for SGD holderIf you are looking to change and hold USD for your business or personal agenda, today USDSGD is giving a relatively good rate.
Well, I'm not saying that USDSGD is not going to drop further but if you in need of using it, it's quite a good rate.
SHORT ON USDSGDusdsgd has been bearish for sometime now.
looking for a rejection in areas of 1.34360 for a signal to go short.
Usd/Sgd (A Absolutely Beautiful Setup)This is the most beautiful setup I have ever seen!
So glad nobody trades this because after a push up Im Gonna Eat It Up!!!!!!!!!!!!!!
1. Extreme Support , Daily Double Bottom At Extreme Support! I may go for 300 Pips!
ideaPrice is at a weekly support and also divergence is present on the daily time-frame ( the last pip-bender).
USDSGD Ready for a big bounceWe have just touched a pivotal support line.
Last two touches of this line in March 2019 & January 2020 both resulted in decent Elliot Wave runs (January was huge). We are likely seeing the 1st wave forming right now, add this to your watch list and get ready to take advantage of the pull back and the big take off of wave 3.
The US surpassed 10 million total cases of COVID-19The pair will break down from a major support line, sending the pair lower towards the 1.32000 resistance area. Asia’s coronavirus cases remain stable despite the resurgence of the deadly virus in Europe and North America. This week, the US surpassed 10 million total cases of COVID-19 while some countries in Europe implemented a second lockdown. Meanwhile, Singapore had only 1-digit daily infection cases throughout November making Asia, particularly Singapore, a good investment hub for businesses. Aside from this, the country is looking to build up its reserves and take advantage of the weak US dollar. USD reserves by Singapore in October jumped to $338.0 billion compared to the prior month’s $328.0 billion. This, in turn, will hedge the Singaporean dollar against economic uncertainties. In other news, US Chamber of Commerce CEO Thomas Donohue calls for the passing of the new stimulus bill before the inauguration of Biden.
W46 - USDSGD rebound off mirror lineUSDSGD rebounded off mirror line @ 1.34504
Entry slightly above previous retest peak / support and resistance line (early 2020)
Entry at 1.35304
TP 25% each at 25%, 50% (s/r level) and 75% (0.382 fib lvl)
will let the balance 25% see how far it can go after that
RRR at 75% 3.05
RRR at top 9.02 but highly unlikely
Disclaimer: Using this as a journal for my own trades on a test account.
USD_SGD Good time to transfer to US account Weekly demand and oUSD_SGD
Good time to transfer to US account
Weekly demand and origin of the upmove from 19.2
