For Short term bottom fishing, you need to take a look at these charts for confirmation.
USDSGD seems like it just experienced an intraday double top (this is good for the markets to have a relief rally). Please read my other posts to understand what I’m talking about. (Just click the A Little Common Cents Corner category for all market related posts).
As I said earlier, the mommy of all short squeezes is in the dollar. When the short squeeze there stops, bearish raid, here we go 😀
As we speak, most Asian markets gapped down but are off lows, with several stocks exhibiting hammers, one day reversals and hanging men. Prepare for some wild action, guys and gals.
*A bearish raid, for those who don’t understand me, means that all those who are too gloomy (bearish in the markets) get eaten up alive by the short squeeze.
– The Faceless Trader
(15 minute intraday & Weekly chart of USDSGD) Also, USDPHP just exhibited a one day reversal today (this is good for the markets):D