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SINGAPORE DOLLAR / U.S. DOLLAR

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SGDUSD trade ideas

USDSGD - Text Book Reversal!USDSGD has recent topped with a beautiful rejection! We had the 50 fibonacci, channel AND an ending diagonal, all indicating a reversal! Now that we've topped, we can look for any pullbacks to add a position for the massive drop. Trade idea: - Watch for pullback - once pullback appears, look for a trendline break or structure rejection - Enter with stops above the highs (above 50 fib) - Targets: 1.305 (700pips), 1.27 (1000pips) Goodluck and as always, trade safe!
by WicktatorFX
USDSGD Channel Up trading strategyWe haven't looked into the USDSGD pair in a long time (May 16), with the last idea giving a great bullish break-out signal: The pair has since entered a Channel Up pattern, with the latest bullish leg since July 14, just reaching the top (Higher Lows trend-line) of the pattern. This is also the 0.5 Fibonacci retracement level from the 2022 High. As long as the price trades under it, we will be short, targeting the 1D MA50 (blue trend-line) at 1.36250. If the 0.5 Fib breaks, we will close the sell and go long instead, targeting 1.38600 (Resistance 1). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
by TradingShot
SELL SETUPThe market has reached the daily swapzone,our daily resistance. The market is trending in the daily timeframe, in this market we might considere looking for sell opportunities. to be on the safe side always follow the trend, even if you get stopped out on your trade you will know why. it might be early entry, you entered before manipulation has happened. It is important to execute trades after manipulation has happened or after having your buy or sell properties, but most importantly don't trade what you always see in the market, have a plan and execute your plan, in that way i am 100&10 percent sure that you will become a consistant trader.
Short
by GMSLORD
Technical Analysis: USDSGD Forex Pair 📈 #ForexAnalysis #USDSGD #ShortPosition #BearishPressure 📉 🔍 Technical Analysis: USDSGD Forex Pair 🔍 Hey traders! 📊 Today, let's take a closer look at the US Dollar/Singapore Dollar (USDSGD) Forex pair and explore some interesting insights that could potentially guide our trading decisions. 🤝 📉 Price Action and Trend Observation: The USDSGD pair has recently experienced a significant event - the breaking of its support levels from January 4th, 2021. 📅 This bearish move suggests a potential shift in the trend, indicating a possible downward direction. 💔 Broken Flag Support: As of now, the price is testing the broken flag support, which could act as a resistance level. 🚧 This retest offers traders an opportunity to take advantage of the bearish momentum in the market. 🐻 Too Much Bearish Pressure: The prevailing bearish sentiment is evident, and it appears that there is substantial bearish pressure that may deter any immediate bullish comeback. 📉 The sellers seem to be waiting eagerly to add to their positions if the price attempts to rally, which might act as a barrier to any upward movement. 📉 Short Position Strategy: Given the bearish environment, I have just opened a short position in the USDSGD pair. If the price happens to rally, I'm prepared to add another short position to capitalize on potential further downside. 💼 However, it is essential to stay cautious and manage risk appropriately, considering the volatile nature of the Forex market. ⏳ Time Frame and Potential Scenario: This analysis is based on a 1-week time frame, suggesting that the anticipated downward move may take a few more days to unfold. But keep in mind, when the price falls, it often does so rapidly, offering excellent trading opportunities for short-term gains. Remember, successful trading involves a combination of analysis, risk management, and discipline. 🚀 Always use proper risk-to-reward ratios and employ stop-loss orders to protect your capital. #ForexTrading #TradingOpportunities #TechnicalAnalysis #ShortingOpportunity #TradeSmart #RiskManagement #USDSGDAnalysis Disclaimer: This analysis is for informational purposes only and should not be considered as financial advice. Trading Forex involves substantial risk, and traders should exercise caution and conduct their research before making any trading decisions. Always do your due diligence and consult with a qualified financial advisor if needed. Happy trading! 📈📉
by T-Q