Hey everyone, I am back with another setup $UNITED OVERSEAS BANK LIMITED(U11.SI)$
On the H4, with prices moving below the ichimoku indicator, I have a bearish bias that prices will drop to sell entry at 25.62 where the swing low support, 100% fibonacci projection and 50% fibonacci retracement are. Once there is downside confirmation, I would expect bearish momentum to carry prices to take profit at 17.37 in line with swing low support. Alternatively, prices could rise to stop loss at 28.18 where the overlap resistance is.
Entry: 25.62 [Smile]
Take profit: 17.37 [Miser]
Stop loss: 28.18 [Cry]
$UOB 5xLongSG230713(DHBW.SI)$
$UOB 5xShortSG221201(DEZW.SI)$
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