EURSEK trade ideas
EURSEK approaching support, potential for a bounce!
EURSEK is expected to drop to 1st support at 10.48813 where it could potentially react off and up to 1st resistance at 10.50905.
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EURSEK Sell SignalPattern: Channel Down on 1D.
Signal: Bearish as the price made a new Lower High rejection.
Target: 10.43000 (top of the 1D Support Zone).
EURSEK - LONGS!!WITHIN THE GOLDEN 61.8 BOUNDARY! PRICE TO TOUCH SWING LINE WHICH WILL FORM A DOUBLE BOTTOM. LOOK FOR FURTHER PA TO TAKE LONGS ONCE THE PINK TL HAS BEEN BROKEN !!!
IF PRICE BREAKS THROUGH SWING LINE COULD POTENTIALLY GO FURTHER DOWN....
EURSEK SHORTEURSEK - Rejection of a monthly key zone, W/D/4hr all looking to reversal will monitor and see how it goes. Still a chance for a break upside. Confident amount of conlfuence will be needed to enter
EURSEK Short TradeDay ended today with a rejection pin bar candle, after a pullback on the daily chart at resistance. Going short and my target will be previous support for a littler over a 2.5:1 R:R Ratio.
EURSEK 07.07 EEGood luck , support you like, please leave your ideas below.
Updates will be in the comments section below.
Trade Idea on "EURSEK" Short Setup by ThinkingAntsOkMain items we can see on the 4HS chart:
a)Price has broken a major descending channel
b)After the breakout, the price made a Flag Pattern
c)Flag patterns are considered continuation structures
d)Using Elliott Wave Theory we can deduce that a 5th wave still remaining
Based on that if price breaks down the Flag pattern with close candlesticks we expect a continuation of the bearish movement towards the First fibo level as 1ts Target, and the second fibo level as the second target.
Daily View:
EUR/SEK: two key levels.FX:EURSEK
At a glance, we can notice two key levels in the chart (see the green and red arrows), respectively to set up a long or short trading strategy.
The long set-up is marked by the double top (see the previous resistance line), at 100% FIBO level. The short set-up is marked by the 78.60% FIBO level. The last one will be also confirmed with the break of the lower line of the parallel channel.
Rebound1)The breakout of the descending triangle with the profit target around Apr lows & the trendline.
2)Local pullback, fake breakout up.
3)R/R 1:4.
_Post factum_
EURSEK short if we break this levelWaiting on a break of support and further momentum to the downside to take a short EURSEK.
EURSEK upside continuation 10.85 11.5 targetsEURSEK made a double bottom, looking at the weekly and monthly charts we can see that after breaking multi year high it retested it.
The trend is obviously bearish on the Krona. Buy the dip... Sweden economic future is grim.
The price managed to break the first resistance and make a bull flag.
If it breaks the second one it could easilly go retest this decade high (around 10.5-11).
It could go past that but then in the 11-12 area price is at ath and it might be a formidable resistance.
The USDSEK situation is a little different. It is retesting ath and has not bounced that much yet.
EURSEK is more relevant imo. USDSEK will follow...
I moved my stop loss up, but am I not adding to my winner due to europe regulation restrictions. Need my capital for other things.
Interesting trade:
I will take profit but can aim higher. Maybe.
I was just trading Bitcoin all along...D'OH!
The more you look at charts (and social networks), the more you see infinity repeating patterns.
The more you recognize infinity repeating patterns, the more you understand the crowd mentality.
The more you understand the crowd mentality the better decisions you make.
My tactics are all about front running the herd. Selling before they sell or buying before they buy.
You have to put in the time to see this.
Those that do not, the "fx lifestyle trade from my laptop the market is an atm just look for chart patterns and indicators" morons, the "hodl moonboys ignore the news noise its just fud", are the ones we frontrunning, and the ones that end up losing all their money (ended in my pockets). No way around it. Well at least they get to be right 99% of the time thought ("right"), and without much effort. I prefer making money.
Oh and it is just 1 piece of the puzzle obv...
