USDHKD (1D): Take Advantage of the Peg
Updated
USDHKD Timeframe: 1D
Direction: Short
Confluences for Trade:
- Pegged currency, strongly defended at 7.85 (Limited risk; any break above the 7.85 levels is gonna be a crisis issue)
- Stochastic Overbought momentum
- Not directly related but Double Top Resistance for the DXY, helps support the drop in USD strength
Suggested Trade:
Entry @ Area of Interest 7.8365 - 7.8499
SL: 7.8573
TP: 7.7935
RR: Approx. 2.91 (Depending on Entry Level)
May the pips move in our favor! Good luck! :D
*This trade suggestion is provided on an advisory basis. Any trade decisions made based on this suggestion is a personal decision and we are not responsible for any losses derived from it.
Trade active
Note
Take profit on half the position and move SL to BE.Run the remaining position totally risk free.
Disclaimer: The personal opinion above does not constitute as an investment advice. Any decisions taken based on the above opinion is purely at your own risks. DYOR.
Disclaimer
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