USD/SGD - NO IT'S NOT A H&S PATTERN - MERRY CHRISTMAS ALL :)
The shoulders are sitting way too low in order for it to qualify as a H&S pattern according to my plan. As a matter of fact there are a lot of signs showing bullish momentum.
1) Weekly Bullish Divergence
2) Soon to be completed double bottoms
3) Flat Correction complete from the most recent impulse
Merry Christmas to you all and wishing you a profitable 2018! :)
My personal details:
Long @ Entry: 1.3350, SL: 1.3270, TP: TBD
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
1) Weekly Bullish Divergence
2) Soon to be completed double bottoms
3) Flat Correction complete from the most recent impulse
Merry Christmas to you all and wishing you a profitable 2018! :)
My personal details:
Long @ Entry: 1.3350, SL: 1.3270, TP: TBD
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
Comment:
ready to turn?
Comment:
readjusted
Comment:
This is why you always gotta look at the bigger picture...
The proper turning point
The proper turning point