USDSGD LONG
Another thought I conjured up! I haven't traded this pair yet but I plan to.
First we see trendlines and I specifically have these colored (key is below) so you can understand what I'm saying, next is the fib wedge(2), and I have two because I see two ascending triangles, last is fib retracement levels.
Price was bearish for quite some time, which the lowest resistance level can show you that, and since then it's been an uptrend.
The text boxes should explain themselves but I still will just in case.
Ascending Triangle: Area of which i expect price to move around in.
-- Price needs to break above current ascending trianle area and hold a retest above.
Support & Resistance: Someone is trying to keep the market at these levels.
-- Drawn at fib retracement levels (future accuracy)
Rejected: Price tried to reach above but failed.
-- Confirming resistance
Blue Trendline - Resistance
Black Trendline - In my opinion Resistance.
First we see trendlines and I specifically have these colored (key is below) so you can understand what I'm saying, next is the fib wedge(2), and I have two because I see two ascending triangles, last is fib retracement levels.
Price was bearish for quite some time, which the lowest resistance level can show you that, and since then it's been an uptrend.
The text boxes should explain themselves but I still will just in case.
Ascending Triangle: Area of which i expect price to move around in.
-- Price needs to break above current ascending trianle area and hold a retest above.
Support & Resistance: Someone is trying to keep the market at these levels.
-- Drawn at fib retracement levels (future accuracy)
Rejected: Price tried to reach above but failed.
-- Confirming resistance
Blue Trendline - Resistance
Black Trendline - In my opinion Resistance.
註釋
Price is at a resistance level (if you see the updated candles) which means consolidation on lower timeframes or a break of a level.
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