I'm looking for shorter time frame (15m) to form on SGDJPY in the coming days to enter long within the pair's support zone defined by confluence of trends and historical structure.
Long term structural resistance exists in the 82.5 area where I would no longer be looking to enter long.
A sustained break below the support zone shown on the chart would also cause me to stop looking to enter long.
In the meantime if/when bullish divergence forms, I'll beginning averaging into a long position with the goal of taking profits along the way, averaging out of the position.
Long term structural resistance exists in the 82.5 area where I would no longer be looking to enter long.
A sustained break below the support zone shown on the chart would also cause me to stop looking to enter long.
In the meantime if/when bullish divergence forms, I'll beginning averaging into a long position with the goal of taking profits along the way, averaging out of the position.