SEKEUR trade ideas
EUR/SEK at Good Support LevelHi Fellow traders.
I expect the market to turn once reach the strong support Level.
HeadShoulder - Hombro Cabeza Hombro // EURSEK In the EUR SEK we can see how the price has broken the bearish guideline that united the decreasing maximums and leaving us with a clearly bullish minimum.
The price appears to have encountered resistance at 10.57 which previously worked as a support.
If we analyze the price structure we can see a possible head-shoulder. For the structure to be confirmed, the price must first pierce and close above resistance (10.57).
If we project the structure it gives us a target close to 10.89 and placing a stoploss below the resistance 10.53 by itself, the resistance works as a high part of a channel.
En el EUR SEK podemos ver como el precio ha roto la directriz bajista que unía los máximos decrecientes y dejandonos un mínimo claramente alcista.
El precio parece haber econtrado una resistencia en 10,57 que anteriormente funcionó como soprte.
Si analizamos la estructura del precio podemos ver un possible cabeza hombro. Para que se confimre la estructura es necesario que el precio primero consiga perforar y cerrar por encima de la resistencia (10,57).
Si proyectamos la estructura nos da un objetivo cercano a 10.89 y situando un stoploss por debajo de la resistencia 10.53 por sí la resistencia funciona como parte alta de un canal.
ridethepig | EURSEK ST Micro Flows 2020.12.06We are entering into short-term technical flows for the weekly closing range after Fed flows come to an end. The growing concerns over rising virus cases will skyrocket over this weekend, expecting a flooding of negative news from mainstream media which will put Western European countries back into the crosshairs.
For the technicals, SEK is trading at a very low value the 2020 macro range called at the end of last year. Jurisdictions are clearly defined on both sides with support located at 10.4x and no interest in chasing this move any higher than 10.6x resistance .
The EUR/SEK will fail to breakout from a downtrend channel resisThe pair will fail to break out from a downtrend channel resistance line, sending the pair lower towards its previous low. Sweden recorded coronavirus infections more than the total cases reported from other Nordic countries. This was due to its decision to keep its economy and borders open and to develop herd immunity among its citizens. Meanwhile, the Swedish government’s refusal to lock down the country resulted in its GDP staying in green territory. Sweden’s first-quarter GDP YoY saw growth at 0.4%. Analysts are expecting Stockholm to report negative gross domestic product results for Q2 as the lockdown in the EU infected its businesses. The EU was the second epicenter of the coronavirus pandemic after China. Most of its member states already lifted several restrictions to recover revenue losses during the lockdown. However, a robust recovery is not expected as the EU’s economy is already struggling prior to the pandemic.
ridethepig | Remaining Short EURSEK A timely update to the EURSEK chart with 2020 flows entering into play as widely anticipated. Lets start by reviewing the concerning Macro Map in the diagram:
In the longer term, positional swings come down to a struggle between patience on the one hand and greed tendencies on the other. In this all-encompassing battle, economic strategy, though important in itself, will always need the presence of technicals in order to strive for mobility.
I am expecting sooner or later the free-fall to begin and get rid of the early dip buyers.
Good luck all those on the sell side. As usual thanks for keeping your support coming with likes, comments and etc!
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EURSEK strong rejection is expectedon DAILY: EURSEK is sitting around a strong support and resistance zone in blue so we will be looking for objective sell setups on lower timeframes.
unless price breaks it downward aggressively, then we will be looking for objective sell setups on its retest.
on H4: EURSEK formed an objective channel in red, so we are waiting for an objective break above the last swing that forms around our upper red trendline to buy this pair.
on M30: EURSEK also formed an inverse head and shoulders pattern, so we are waiting for a momentum candle close above our neckline to buy. (conservative traders should wait for the buy from H4)
EURSEK Buy SignalPattern: Testing the 6 month Support.
Signal: Bullish as the RSI and the 2018 fractal indicate a potential rebound here.
Target: 10.8000 (just below the 0.786 Fibonacci retracement).
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EURSEK STRUCTURE LONG The pair has reached a key structure level on daily, and a bounce up is reasonable to expect.
There was a nice consolidation inside the structure, a breakout, and a retest. A good long with a decent risk reward.
The stop is below the consolidation support. Targets are meaningful resistance level.
Guys, like, subscribe and comment! I appreciate every effort!
Wish you best of luck in your trading.
Daily watchlist candidate for SEKEUR:shortHello world,
and another watchlist candidate for this week.
Theory:
Reversal at weekly resistance line.
What we have:
- overbought RSI
- MACD signaling trend change
- long term trend: SHORT
- wykoff expansion phase (long term)
- multiple rejections at weekly resistance line (red)
What I am waiting for:
- price action at resistance line
- smaller candles indicating momentum loss
- break of shortER term trend line (green)
Happy for any feedback.
All the best,
c4ss10p314
Bulls were able to force a reversal and seize the momentumAfter reaching its support level in the previous session, bulls were able to force a reversal and seize the momentum to recover their losses. The pair now has a bullish trajectory and signs say that it’s heading for its resistance in the first half of the month. As of writing, investors of the Swedish krona are causing the pair to steady as they wait for the upcoming consumer confidence, manufacturing confidence, and retail sales figures from Sweden scheduled today. Aside from those, bears are also hoping to see better than expected results in the Swedish gross domestic product report that is also scheduled to be released tomorrow. That would strengthen the Swedish krona and give a tough time for the euro. On the other hand, the main factor that is supporting the single currency is the recent news about the European Commission’s plan for the post-coronavirus recovery funds. According to reports, it will be worth a staggering 1.85 trillion euros.
EURSEK potential bullish reversalon WEEKLY: EURSEK is overall bullish making higher highs and higher lows, and it is currently sitting around our lower blue trendline so we will be looking for objective buy setups on lower timeframes.
on H1: price formed an objective wedge pattern in red, so we are waiting for a momentum candle close above its last swing standing to buy.
we also have divergence on MACD adding more confluence to our setup.
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!
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.
