Breaking the 10,000 limit soon - SGDIDR

I posted this chart for a friend who is based in Indonesia sometime in July this year. His income was paid by the Employer partially in SGD and partially in IDR (indonesia rupiah). Thus, he is concerned about the forex movement. Out of interest, I did this for him.

This monthly chart taught me a few important lessons -

1. By trading a longer time frame - using day, week or even monthly charts, one is less tempted to adjusted one's stop loss or take profits too quickly. This also means less frequent in and out of the market which causes unnecessary emotional roller-coaster. Of course, this would not goes well for those who excel in shorter time frame like 1 hour or 15 mins chart and enjoy the adrenaline rush of quick profits. I had tried that but realised my temperament is more suitable for slightly longer time frame. Know thyself - Socrates

2. The chart clearly shows a flag pattern formation and it is extremely bullish . It hit a peak of 10,400 in 2015 before retracing to 9233 in 2016. Jan 2017 bullish engulfing candle was a good buy entry and it also rebounds from the lower channel. If one needs more confirmation, one can wait for buy entry in June 2017 where price closed above 21EMA. Notice it breaks out of the upper channel and move nicely towards my profit target 1 and target 2. Current lower time frame indicates profit taking and pull backs , so wait patiently before entering the market. I expect it to hit profit target 3 by end of this year.

Kommentar: all targets hit, congrats to those who follow.
DE Deutsch
EN English
EN English (UK)
EN English (IN)
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
HE עברית
Startseite Aktien-Screener Forex-Screener Krypto-Screener Wirtschaftskalender So funktioniert es! Chartmerkmale Hausregeln Moderatoren Webseite & Brokerlösungen Widgets Stock Charting Bibliothek Feature-Anfrage Blog & Nachrichten FAQ - Häufige Fragen & Antworten Hilfe & Wiki Twitter
Profil Profileinstellungen Konto und Abrechnung Meine Support Tickets Support kontaktieren Veröffentlichte Ideen Followers Ich folge Private Nachrichten Chat Abmelden