LONG POSITION ON CADSGDBUYERS PUSHED PRICE PASSED ITS DAILY RESISTANCE. POST THE BULLISH MOVE, WE THEN SAW SELLERS TRYING TO REGAIN MARKET CONTROL BUT ONLY TO PUSH PRICE TO SUPPORT, TO SERVE AS A BREAK-OUT AND RETEST ILLUSTRATION TO THE UPSIDE.
I BELIEVE THIS HAVE BEEN AN EASY ANALYSIS BECAUSE OF ITS TEXTBOOK PLAY.
NB: DO NOT FORGET TO USE PROPER RISK MANAGEMENT.
Canadian Dollar / Singapore Dollar
No trades
Market insights
Canadian Dollar / Singapore Dollar - BUYPrice is at the tip of a down trend and a small retracement.
Price could buy to break resistance for a reversal or could break trend line to sell to support.
Because price is also just above the bottom Bollinger Band on the 1 day time frame,
I believe price will buy to test resistance.
CADSGD - On good supportLONG - CADSGD
SL: 1.02185 (Suggested by our algorithmic system)
TP: 1.03394 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Price is on multiple support levels
2. Stochastic showing bullish crossover on oversold level
3. RSI bullish divergence and close to oversold.
---------- Chart Drawings ----------
Blue Dotted Line: Broken Support Trendline
Red Dotted Line: Broken Resistance Trendline
Blue Solid Line: Support Trendline
Red Solid Line: Resistance Trendline
Blue Rectangle Box: Support Level
Red Rectangle Box: Resistance Level
Blue Arrow Line: Bullish Divergence
Red Arrow Line: Bearish Divergence
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
CADSGD 1h AutoUFOs™ Trade Alert! 02 December 2019Buy Limit @ 1.0285
Protective Stop Loss @ 1.0250
Take Profit @ 1.0320
Rationale:
Buy Un-Filled Orders (Green UFO ) available in the 1h time-frame
Sell Un-Filled Orders (Red UFO ) further above allowing for the current trend to continue developing
Boosting Options:
Higher time-frame moving average values or Fibonacci retracements coinciding with the entry price
Confirmation-style Market Order execution after waiting for price to travel in and out of the entry UFO
CADSGD 1h AutoUFOs™ Trade Alert! 02 December 2019Buy Limit @ 1.0285
Protective Stop Loss @ 1.0250
Take Profit @ 1.0320
Rationale:
Buy Un-Filled Orders (Green UFO ) available in the 1h time-frame
Sell Un-Filled Orders (Red UFO ) further above allowing for the current trend to continue developing
Boosting Options:
Higher time-frame moving average values or Fibonacci retracements coinciding with the entry price
Confirmation-style Market Order execution after waiting for price to travel in and out of the entry UFO
CADSGD technically oversoldLONG - CADSGD
SL: 1.02069 (Suggested by our algorithmic system)
TP: 1.03173 (Suggested by our algorithmic system)
Reasons behind this idea:
1. Stochastic and RSI indicators suggests this currency pair is oversold
2. RSI and On Balance Volume indicators is showing bullish divergence
Caution: MACD is still showing bearish momentum
---------- Chart Drawings ----------
Blue Dotted Line: Broken Support Trendline
Red Solid Line: Resistance Trendline
Blue Arrow Line: Bullish Divergence
Purple Vertical Line: Suggested Stoploss by our algorithmic system
Green Vertical Line: Suggested Stoploss by our algorithmic system
Trade idea from our mobile app: ibb.co (Timestamp is in Australian Sydney Time UTC+7)
Please trade responsibly and good luck!
CAD/SGD - A nice LONG direction setup*** DISCLAIMER ***
Any and all commentary, research, analyses, or other information published by me on this website are provided as general market commentary, and do not constitute investment advice nor a solicitation and there are no guarantees associated with them. I am not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information.
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At the moment we are in the lower bound of a 10 months old channel. Now, there is a nice long direction setup with also a nice R:R, so if I will see a bullish pattern as confirmation, I'll go long.
CADSGD looks good to go LONG now, but looks can be deceiving!Reasons behind this idea:
1. Detected bullish squeeze on the 1Hr Timeframe by our algorithmic systems.
2. Stochastic indicators are headed in the oversold zone.
3. Bullish hammer candle pattern on a support trendline.
Caution: MACD indicators have crossed bearishly.
---------- Chart Drawings ----------
Red Line: Resistance Trendline
Blue Line: Support Trendline
Purple Line: Suggested Stoploss
Green Line: Suggested Take Profit
Please trade responsibly and good luck!
CADSGD: Medium and long term Sell Opportunity.The pair has been trading within a 1D Channel Down since August/ September peak (RSI = 52.914, MACD = 0.000) and is currently testing the 1D MA50. Even though the Lower Highs are clear, the pattern lacks the latest Lower Low and we are taking this opportunity to go on a medium term short towards 1.0300. Long term trades may wait for an even bigger sell opportunity towards 1.01000 (1W Support) if the Channel Down breaks downwards.
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