Forex setups aren’t something we share regularly nor does the winning potential for foreign currency setups take our fancy.
Though this caught our eye and we’d like to share our finding with everyone (no charge for this one because we don’t charge anyone). 😉 If you missed the boat, fret not.
We believe AUD/SGD has the potential to retrace somewhat before heading higher at least for the short to medium term. Our targets are as follows:
ST1 – 1.006 (6.2%)
ST2 – 1.080 (14%)
ST3 – 1.144 (20.8%)
ST4 – 1.190 (25.7%)
ST5 – 1.239 (30.8%)
ST6 – 1.297 (37%)
The start zone for this setup is marked on the chart with a pink rectangle – ~ 0.93 – 0.947. Though it could head lower than this, the targets above remain the same. It also has the potential to head up a little before retracing (which could change the start zone).
Winnings potential calculated from a start at 0.947.
(The targets on this chart have been calculated fromspecific to this setup and are not suitable for anything else.
Always do your own research before trading.)
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Trading View link: https://www.tradingview.com/chart/AUDSGD/G38eLCoN-AUD-SGD-Setup/