USDSGD forming cypher pattern | A good short opportunity
Priceline of US Dollar / Singapore Dollar Forex pair is forming bullish cypher pattern and has completed B to C leg and entered in potential reversal zone.
Stochastic is overbought and gave bear cross.
RSI is overbought.
MACD is turned weak bullish from strong bullish.
Volume profile of complete pattern is showing less interest of traders at this area.
The price action can drop upto completion of cypher's leg from 0.618 to 0.786 Fibonacci of X to C leg's projection moreover we also have 100SMA support at almost 0.786 Fibonacci.
I have used Fibonacci sequence to set the targets:
Sell between: 1.39425 to 1.39990
Re-Buy can be between: 1.36557 to 1.35623 (Upto completion of cypher's leg from 0.618 to 0.786 Fibonacci of X to C leg's projection)
Enjoy your profits and regards,
Atif Akbar (moon333)
Stochastic is overbought and gave bear cross.
RSI is overbought.
MACD is turned weak bullish from strong bullish.
Volume profile of complete pattern is showing less interest of traders at this area.
The price action can drop upto completion of cypher's leg from 0.618 to 0.786 Fibonacci of X to C leg's projection moreover we also have 100SMA support at almost 0.786 Fibonacci.
I have used Fibonacci sequence to set the targets:
Sell between: 1.39425 to 1.39990
Re-Buy can be between: 1.36557 to 1.35623 (Upto completion of cypher's leg from 0.618 to 0.786 Fibonacci of X to C leg's projection)
Enjoy your profits and regards,
Atif Akbar (moon333)
