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Euro / Swedish Krona

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EURSEK trade ideas

Best FX pair of 2018-2020 making a nice bottomI think there is a high probability, higher than 20% I am certain, that this pair if it visits the entry area, goes up without going down too much. It could also go a bit further before reversing, I am giving myself 2 chances on this one but no more if I lose twice I quit. Here you have the weekly chart: The spread is 30 points which is not very high, it's not the same as 30 points on EURUSD. It's a pretty typical bottom (if it ends up being one). Textbook says to wait for "confirmation" or something I guess? Something like this? And not even enter at neckline, they want a "confirmation" candle, they want the price to go past the neckline. And stop losses are rarely mentionned. At the bottom (great idea), sometimes halfway through. You don't even get 2R! Forex markets TREND. TREND = goes in 1 direction MORE than the OTHER. THEREFORE ==> Target MORE than stop loss. That's how the market is. It works in a high reward to risk way. It is abstract but it's logical and pretty simple to understand right? Hey, they want more and more confirmation, so I have a proposal: Already made a new low as I write this, but hasn't reached the entry level yet. Let's do this!
Long
by MrRenev
3
I knew it... And I sure am not coming back to crypto!Bitcoin is not a currency, no companies are doing business with it and using the market to hedge. There is no commercial whales moving money around, and no central banks regulating it either. And so the price behaves differently. Gold doesn't have a lot of import/export currency management, but alot is similar, central banks and sovereign funds are major players. As gold goes up I expect it to behave more in a "speculative way". EURSEK did "top at 6000" as it should be! They call FX a "complex and efficient market" no that is wrong. It is simply a - well yes more efficient market but - a market without hordes of bagholders and bottom chasers. I think that 95% of the time the Forex market is random, but the rest of the time it's pretty predictable I guess. Much less noobs, and this is why regulators hate Forex and want filthy casuals to avoid it entirely. This is just 1 price move I know, but it is yet another example of how BTC is different. What is the point of learning to trade crypto? 90% of what you learn will be lost and can't be transmitted to other assets when the ponzis fall to zero. Or perhaps that knowledge and skill and experience can be useful... Trading hyped stocks and future speculative bubbles with very high retail participation. I'm not a stock expert and clearly I'd rather continue to OTP FX (+ macro commodities), althought I plan on one day investing long term in stocks maybe even speculate short term on those. I would even go as far as saying... Someone reminded me of Pacific Ethanol today, good memories. They were in the news recently, more money problems. Markets are abstract, speculating is the most abstract activity there is involving markets. 90% can't understand something as simple as buying high and selling low. "Ooga booga first degree you have to buy low and sell high tihi it's obvious" Simpletons like this do not stand a chance in stocks & crypto already, so Forex that is "harder" they don't even stand a crumb of a chance. "Muhahaha every one thinks Bitcoin is going to zero but I noticed that last time it went up haha I am a genius visionary no one thought of that I outsmarted them all" I don't know if it's sad or funny. As Jean Claude Van Damme said "they are not aware" ;) If you want to learn more about this you have to be sneaky and ask or search for something like "when intuition is wrong" not "morons that don't understand abstraction" or so, "oh it's ok to be wrong it doesn't mean you are stupid" because no one will ever admit they are an idiot and no one thinks they are anyway. It's like in South Park where 99% of the town men have a certain part of their body "well above average" 😆 Every one's above average, sure, this shows how smart they really are. "Every girl is beautiful, well above average" kek. Maybe there is a girl that is so terrifyingly ugly she drags the average down, is that what they mean? Euphemism and comforting lies, always. But when you're too smart to believe those... Have to look for dumb beliefs centuries old because most people dumb beliefs of today are actually the ones that are correct.... Lmao takes the average person literally centuries to understand something. I'd like to meet the magicians that have plenty of signals in choppy markets. They're so good that they aren't more active during major trends, they produce just as many ideas in dead choppy markets as in ultra trending ones. And they almost all sell something. Jesse Livermore about 'experts' and 'teachers': "makes his money from selling trading books because he can’t make money in the markets." The simple facts that these signal services are not more or less productive in changing market conditions, and their systems don't change, is just so hilarous and a huge red signal. I might short Bitcoin Monday but I'm not "coming back", just taking a look here and there. Made some money when I bought 10 days ago with 10k as a target, got kicked out way before 10k because I trade it as Forex and run for the exit quickly. Crypto Bagholders are right about something: money is made by holding. They don't understand exactly what they are saying. They are right that crypto has big pullbacks, in either direction, and to stay in and extract as much as possible from trends one has to sit through very big pullbacks (ewwww). Reward is large but risk too, there are no free lunch. But where crypto investors trully amaze me is that while they "understand" that crypto has really deep pullbacks, they rush in to buy at the slightest dip. Should I just short the pair? What's even left of the non swedish europe? I think I'll just make a small bet, been right and missing out alot lately.
Education
by MrRenev
18
Investors are choosing the Swedish krona instead of the euroInvestors are choosing the Swedish krona instead of the euro thus giving strength to bears to force the pair lower. In March, the euro seemed unstoppable as it continuously secures gains against the Swedish krona and other currencies in the region in the previous sessions. However, things are now turning around for the beloved single currency as it heads down in the market. Perhaps the bond-buying program that was recently announced by the European Central Bank is draining the strength of bullish investors. Forex investors are betting on the “pro-cyclical” currency as it has no great exposure to oil directions to make a strong rebound against the euro. Moreover, more issues regarding the block and the stimulus program are holding back the euro in sessions, preventing it from defending against the Swedish krone. This time, the recent decision of a German court calls the European Central Bank to justify its massive bond-buying program.
Short
by Financebroker
Striking similaritySweden had no lockdown, Europe did. EURSEK going to zero like BTC. Curious to see what happens. Let's check again in a few days. Same idea as Bitcoin back then for me. If I see a double bottom I will buy. All the brainlets should buy, if it goes up they will have "missed out" lmao. There's very little retail interest in this, I won't get to see the "bull market is back" reactions :( Hey maybe central bankers and investment banks are going to claim "bull market is back" 🐻😆
by MrRenev
EURSEK Short Trade - Limit Entry 10.715Stop Loss = 10.90333 / Take Profit = 10.15 > Coupled with a 1% risk and 3% reward. Once the trade reaches a 1:1 point move SL in front of the entry to protect the downside. If it takes you out we can always re enter at another opportunity. As the trade progresses i will comment every change to show you how i make to maximize profits. Remember Risk/Reward is the key, we will take losses along the way but overall profit in the long run. If you enjoy follow and like my ideas and if you have questions message me. Keep Chasing that Paper!!!
Short
by PaperChaser12
The Swedish krona’s exchange rate has depreciatedThe Swedish krona’s exchange rate has depreciated thanks to the unprecedented fall of the US crude oil market. The euro is expected to snatch the momentum and propel the pair to its resistance after the pair bounced off its support and received support from the falling crude market. Looking at the chart, unlike most currency pairs of the euro, the EURSEK’s rally isn’t as big as the 50-day moving average has not totally taken flight against the 200-day moving average. Still, the upcoming rally will work in favor of bulls, allowing the 50-day MA to advance higher in the coming sessions. Also, the Swedish unemployment rate which just sharply fell helped drain the confidence of bearish investors in the sessions. As for the euro, it’s not spared yet as more headwinds are coming to its way. At first glance, the PMIs from the region may look grave, but don’t be fooled because the worst has yet to come for the single currency.
Long
by Financebroker