USDSGD – Why I like it Long

Hi All,

This is just a quick note on what I’m looking at for the moment. The following is USDSGD on a 4 hr chart.

(Click on image for Larger View)

As mentioned on my weekly commentary, this pair is at the bottom of a major channel. As I write this, the 4 hour chart shows a ascending triangle with an upward trendline – some might even call it a potential channel (Green arrows).

I’ll be looking for long entries around the red boxes, though my preference is the latter (after the break above 1.225).

Note: the new trend isn’t confirmed until there is a convincing break above 1.234. Either way, remember to Trade your own edge.

Thank you and happy trading!

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