There are quite a few reversal setups building up right now and I wanted to highlight one in particular.
The AUDSGD has been in the recent uptrend for some time and 1.048 is the bottom of a previous resistance zone. The ultimate high is a little higher at 1.0516 but it seems like price is already finding supply.
We haven't broken the 20 SMA in 10 days and the uptrend shows a strong structure. The divergence is also adding confluence here. The BB spike didn't happen and price even failed to reach the outer BB. We had some type of reversal pattern: large bullish candle, pinbar, large bearish candle.
The only thing missing is the break of the 20 SMa with a strong bearish candle. DON'T enter just yet but wait for the confirmed signal.
The AUDSGD has been in the recent uptrend for some time and 1.048 is the bottom of a previous resistance zone. The ultimate high is a little higher at 1.0516 but it seems like price is already finding supply.
We haven't broken the 20 SMA in 10 days and the uptrend shows a strong structure. The divergence is also adding confluence here. The BB spike didn't happen and price even failed to reach the outer BB. We had some type of reversal pattern: large bullish candle, pinbar, large bearish candle.
The only thing missing is the break of the 20 SMa with a strong bearish candle. DON'T enter just yet but wait for the confirmed signal.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.
I have been trading for 15 years!
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
> Trend Rider indicator: tradeciety.com/trend-rider-indicator/
> Free weekly trading webinar: tradeciety.com/webinar/
> Free blog: tradeciety.com/blog
Declinazione di responsabilità
Le informazioni ed i contenuti pubblicati non costituiscono in alcun modo una sollecitazione ad investire o ad operare nei mercati finanziari. Non sono inoltre fornite o supportate da TradingView. Maggiori dettagli nelle Condizioni d'uso.