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SWEDISH KRONA / U.S. DOLLAR

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SEKUSD trade ideas

USDSEK - Let's sit & wait...USDSEK - Let's sit & wait... Most favourite plan to do on the weekend is my weekend analysis. The market is close, going through higher TF, getting into the zone and ready to crush another week of trading! USDSEK - Another trading pair I occasionally trade. I feel the behaviour of SEK is very interesting, i'd say I do trade relatively small on this pair but the risk/rewards are great. For now we are waiting for a break to either direction and this is a similar theme on all FX pairs I am looking at. When the market are these conditions I usually add alerts and perhaps limit orders. Key Tip: Don't forget to follow your trade plan and if you don't have one MAKE ONE! Trade Journal
by Trade_Journal
USDSEK On the most critical 7-year ResistanceThe USDSEK pair has been rising parabolically all year due to the well-known fundamental reasons empowering the USD amidst the high inflation. The price has finally reached though a technical level that we have to consider as it has been forming long-term tops over the past 7 years. As you see on this 1W chart, the Resistance we are referring to is the Higher Highs trend-line that started after the April 13 2015 High. Every Higher High after that, was formed on every +0.5 Fibonacci extension (1.5, 2.5) and two weeks ago, the 3.5 Fib was reached and strongly rejected the price, again exactly on the Higher Highs trend-line. However since last week, the price resumed the uptrend and is again about to test that strong Resistance cluster. As long as it closes below, it remains a good long-term sell opportunity. If fundamentals continue to have their way though, then this 7 pattern will be invalidated and buying will remain the only option, in which case the 4.5 Fib will be our target. ------------------------------------------------------------------------------- ** Please LIKE 👍, SUBSCRIBE ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support me, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- You may also TELL ME 🙋‍♀️🙋‍♂️ in the comments section which symbol you want me to analyze next and on which time-frame. The one with the most posts will be published tomorrow! 👏🎁 ------------------------------------------------------------------------------- 👇 👇 👇 👇 👇 👇 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
Short
by TradingShot
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