We have an aggressive long entry here in USDSGD, I copied the rally from April 29th, 2015, since it matches the current prices very well to illustrate what is possible here. There was a downtrend which has expired and we're above weekly support, so we can expect higher prices soon. In the 4h chart we can observe a potential uptrend forming, so it's potentially a good long entry here, even though it is indeed early to join the long side. We should see this pair gain traction after the FOMC meeting, let's give it a try and see how it goes. Good luck!
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Cheers!
Ivan Labrie
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Commento
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This trade is punishing from the start, but let's give it some breathing room. I think it will trend clearly after FOMC, let's just hope it doesn't go for our stops first. If not we might have to reenter with a different strategy, but we'll know soon enough.
Hi Kevin. What do you mean? The entry at C, or what?
KevinSinghDhaliwal
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Hi Ivan, no I missed the entry at C leg. Now got the entry at 1.3576. Are you already in? Or are you waiting for the news tomorrow?
IvanLabrie
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I'm in, waiting around for momentum. Thanks for clarifying. Cheers!
moorekapital
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Looking good! I'll monitor this and join the wagon w/ you
IvanLabrie
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Thanks.
It's early, 4h has potential for an uptrend, daily and weekly maybe, but not yet 100% there.
I think after FOMC, everything will be clearer here.
moorekapital
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Very correct! Let's wait . Looks a good guy when it picks the baton.