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USD/SGD Long – 01 June 2021 | Hybrid Move Result: +3.00% for OANDA:USDSGD by newcapitalfx

USD/SGD Long – 01 June 2021 | Hybrid Move Result: +3.00%

USD/SGD OANDA:USDSGD


USD/SGD Long - 01 June 2021 | Hybrid Move Result: +3.00% for OANDA:USDSGD by newcapitalfx

Hey all,

Another quick breakdown of one of our key strategies.

The trade initiated from a Daily Jr. Zone stacked with a key quarterly and monthly trendline and of course a clean weekly area of demand. Beautiful price-action in my opinion at the higher-timeframes.

The overall higher time-frames were perfect when the trade was executed and the Dollar index was also located in multiple layers of demand. The last couple months we’ve been eyeing the dollar
for a clean recovery higher, the main reason for this was the fact that price was located in a key area of value at the monthly time-frame, at the weekly time-frame and at the daily time-frame as well|
by stacking our unique zones, we can gain an edge in the markets and by utilising multi currency analysis this trade was executed live together with a scale-in position which is still running with an additional
+3.16% locked in profits due to our trailing stop loss.

The 4hour entry was formed strongly after a bit of slowing down for the recent 4hour candlesticks . Price exploded to the upside due to fundamentals, even though we do not
trade fundamentals or check the news due to the subjectivity of it, we do love the volatility it brings to the table.

Text book setup in my opinion which provided some good profits.

Kind regards,
Max Nieveld

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