When the market test major structure levels it definitely gets my attention, and should get yours – considering these are where the big reversals develop.
The USDSGD is testing it’s market structure highs right now. Check out the weekly chart and you will see the significance of this level.
We can see some bearish rejection off this level – so if we drop down to the 4 hour chart we can see there are some bearish rejection candles being printed.
4 hour swing traders are probably already short – if you’ve missed out on the move, don’t worry, wait and see how the daily candles closes. If a reversal does start to develop off this major level, there is a good chance we will get a signal at the end of day close on the daily chart.
Andy
Nice trade call! Awesome!