In the previous trade on usdsgd long, i was out on break even and was prepared to accept that price maybe forming a head for hns chart pattern.
Price has now evolved.
USDSGD seems to be attempting to form a h4 hns via a wr3B retest
My concern is that there is no obvious resistance to create this head, which is one of my
criteria for hns to be formed.
My consolation will be that this is a hns of considerable size since there was a wr3b previously.
Also last week closed below a d1 fib6 downflow.
The space for downside seems not to be so quantifiable as well, but I will look out for
bearish price action signal first at the said level.
No trigger no trade