Log-in required. WTI is downtrending since the last 2 weeks with clear lower low sequence and almost equidistant retracement. We are looking at a repeat of this price action and critically inspecting H4 chart.
Month: July 2018
On 19 Jul 2018, Wheelock Properties parent (Hong Kong listed firm) made an offer to take the company private. Stock price jumped up 26% after trading halt. It is not a surprised as the Hong Kong listed firm already owns 76.21% of the Singapore listed arm. Following this action, there is another company widely speculated to be privatised as this listed company bears similar traits to Wheelock Properties.
Last Friday close shows a bearish expansion in USDSGD. Lined up in daily, H4, and H1 context, you can see why. If a short signal appears, it is following Double Top logic. However, a bullish 1-2-3-4 could appear later on daily time frame (after a short is completed). So we are going to be careful about where to close our short because once 1-2-3-4 appears, there may be a plan to go into a swing long mode.