What equidistant channels, trend lines say about AUDSGD

Learn about trend, support and resistance, confluence with this chart of AUDSGD done with equidistant channel and trend lines only.

  1. Mid-term June to October 2015 in light blue equidistant channel shows AUDSGD falling, SingDollar strengthening.
  2. Near term September to October 2015 in light green, violet equidistant channels and brown in between shows AUDSGD rising in favour of Aussie Dollar strengthening.
  3. An extended trend line (thick black) going through turnings points provide support resistance.
  4. At moment, AUDSGD pair is very near confluence of trend lines which should provide stout support.
  5. Traders looking for long term trend following should be looking for bearish reversal pattern, pullback to sell into high or sell new low of October.
Mid, near-term trend of AUDSGD expressed in equidistant channels

Mid, near-term trend of AUDSGD expressed in equidistant channels

 

  1. Trend lines, channels are versatile and can be used for different markets such as this.
  2. How to draw the best equidistant channel in MT4 video.
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Soh Tiong Hum is Director of TerraSeeds Market Technician Pte Ltd. TerraSeeds is a trading educator in Singapore since 2005.   Soh's Twitter account @sohtionghum was ranked #23 out of The Top 70 Twitter Accounts To Follow In 2015 by MahiFX.   Disclaimer notice: "I do not have a financial advisor's license. I am not qualified by any regulator to give financial advice. I do not know you the reader. Your investment means and motive may be different from me. My posts here are based on observations and meant for education. I am not responsible for for any consequence from your actions."
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