FOLLOW UP STRUCTURE | GBPSGD

In as much as we have a long term downtrend possibility on this pair, possibility of taking a counter-trend trade is explained thus;

Tendency: Temporary Uptrend (Bullish)
Structure: Support and Resistance | Supply and Demand
Observation: i. Price breaks resistance zone @ 1.72000.
ii. Price tends to find new support at previous resistance in anticipation of a trend continuation.
iii. Price above Moving Averages
Trading Plan: BUY at DEMAND zone with a potential TP1, TP2 and TP3 with 630pips and SL @ 1.70000/1.68000 zone.
Risk/Reward: 1/3.5
Potential Duration: 5 to 12 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.



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