USDSGD: The top could be in, or close
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There's a distinct possibility that we will see either a major correction or a larger scale reversal in this pair, in 3 weeks or sooner, according to the methodology that I use, which is time at mode.
For the channel enthusiasts, we got an intermediate term downtrend channel top upper barrier above, in the area of very strong resistance, which I derive from my own techniques (not the channels or fibonacci, but what Tim West taught me).
This pair is under constant central bank control, since it's a managed float, and based on the technical elements I suspect they will shrink the exchange rate fluctuation band soon.
I'll update once I see a clear short setup with defined risk and reward variables, and a high probability.
Hope everyone has a good weekend, cheers!
Ivan.
For the channel enthusiasts, we got an intermediate term downtrend channel top upper barrier above, in the area of very strong resistance, which I derive from my own techniques (not the channels or fibonacci, but what Tim West taught me).
This pair is under constant central bank control, since it's a managed float, and based on the technical elements I suspect they will shrink the exchange rate fluctuation band soon.
I'll update once I see a clear short setup with defined risk and reward variables, and a high probability.
Hope everyone has a good weekend, cheers!
Ivan.
Trade chiuso: obiettivo raggiunto
To the pip, and right on time.
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