Current down trend on daily time frame converges with an up trend on the weekly. Short term speculators are running into fund managers looking at a longer horizon. Two big candles yesterday and the day before are signs of contest. This is the trading proposition for WTI right now.
AUDSGD prints a high probability reversal pattern with a combination of multiple bullish features including 1) confluence of trend lines on weekly 2) W-shaped double bottom on daily chart 3) bullish expansion terminated previous week-week trend.
A look at simple price action indication of change of trend: price expansion. A bearish price expansion terminates an uptrend sequence of higher highs, higher lows while a bullish price action does the opposite. Making a trade entry after such a signal ensures that we got the trend and timing correct.
These levels apply to long side setup based on that decisive new 52-high post-Brexit that terminates previous trend. Fib-R 23.6% and 38.2% offers 2 levels to look at, 52-week high the 3rd one.
Capitaland fell 3.44% today on confluence of bad timing: Ex-Dividend selling and very bad news on the property sector. But there is something else in the chart too.