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UsdSgd: Bearish EW Triangle In Play

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USA-dollar / Singaporiansk dollar (FX_IDC:USDSGD)  
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FX_IDC:USDSGD   USA-dollar / Singaporiansk dollar
Trend Analysis Chart Patterns Wave Analysis
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Comments on the chart
Kommentera:
Price rose today. The E high remains intact and so does the C high which is even further away from price. As these levels are still intact the idea is still on. EW triangles are time spending structures and often keep traders guessing till the breakout.
Kommentera:
Price fell hard today and is almost at the D level. Price taking out this level confirms the thrust down is under way which could target 1.2800 area
Kommentera:
Price bounce hard today off the (extended) triangle line. I am still bearish but was not expecting this price action today. That is trading for you. If the market did what traders expected all the time there will be no market
Kommentera:
Price is surfing the lower boundary of the triangle. This structure is bearish
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