USD/SEK - BAT COMPLETE?USD / SEK That has always given us great satisfaction, slams on a Daily resistance, where we can see the completion of a bullish BAT! From strategy we do not enter the market on Friday, but we wait for post-weekend movements!
USDSEK trade ideas
USDSEK bull idea bullish bat formed D leg completed at the 1.618 aba ext
take profit based off a/d fib (see Tp1/Tp2 for price)
comment/critique I'm still mastering my skill so it would help thanks
USD/SEK 1H Chart: Pair guided by bearish patternsUSD/SEK was dominated by an ascending channel in force since late August. This long-term pattern was breached mid-December, thus following by a period of decline down to the 8.13 mark.
This bearish momentum has allayed during the previous week; nevertheless, the pair still remains tended slightly southwards. The Greenback managed to breach the combined resistance of the 55– and 100-hour SMAs early today. Technical indicators favour further fall within this session and even beyond. Thus, it is likely that the given currency halts near the 200-hour SMA and re-tests the aforementioned shorter-term moving averages.
By and large, the senior channel is expected to hold, thus guiding the pair within the following week or two.
USDSEK Agressive and Conservative Short EntriesSee callout bubbles. We will take both of these entries. If the aggressive entry gets stopped out, that is okay. We will sit tight and see if price will continue upward to the more conservative entry.
Always measure your risk and be okay with being wrong ; )
USD/SEK - DON'T BE FOOLED BY THE BREAKOUTThe pair is currently still correcting and we could get one more strong move to the upside. Bear in mind though that in the bigger picture (Monthly chart - which i will post as an update) we are still within a Zig-Zag correction (wave 4 to be exact) therefore I would be very cautious and lock in profits as soon as possible. Note how leg C looks like it's carrying a lot of momentum, but so did leg A before turning. In addition we are seeing an ending diagonal form which is a very common occurrence for the leg C of a Flat & Zig-Zag correction.
My personal details:
Long @ Entry: 8.2677, SL: 8.2565, TP: 8.5180, RR:22.34
For risk and money management purposes, always determine a max. of 2% risk on every trade.
For example on a $50,000 account, this would be equivalent to 1,25 Lots with an 80 pip stop loss.
Targets and closure of positions may be subject to alteration throughout the course of the trade. This is due to the ever-changing and unpredictable nature of the market.
This post is set to be used and serve as an example and in an educational manner and is not to be taken as direct investment advice.
USD/SEK 1H Chart: Channel up weakensUSD/SEK had been guided by a channel down valid since November, 2016. This long-term pattern was eventually breached to the upside two months ago when a junior channel proved to be stronger.
The rate has since diminished its trading range in the given pattern, thus failing to reach its lower boundary on November 27. Meanwhile, a possible surge north has been halted by the 8.52 area on several occasions.
Technical indicators suggest that the US Dollar is likely to edge higher in this session. Given the strong resistance of the 100-, 55– and 200-hour SMAs and the weekly PP, any attempts to move past the 8.46 mark should be disrupted. Subsequently, the pair could either trade sideways for some period prior to falling down or do the latter right away.
A possible downside target for the following three weeks is the 8.32 area.
USD/SEK 1H Chart: Rate pressured by SMAsThe US Dollar has been appreciating against the Swedish Krona in an ascending channel since late August. After failing to reach its upper boundary on November 21, the Greenback initiated a new wave down.
Meanwhile, the lower boundary of the senior channel was tested for two consecutive sessions. The rate, however, managed to edge slightly higher until the weekly PP at 8.3538 was reached.
Currently, the pair is located between the 55-, 100– and 200-hour SMAs. The pressure from both barriers might force it to move sideways. Its subsequent movement, however, is expected to be south and past the bottom boundary of the senior channel.
In case this scenario occurs, this might mark a period of depreciation for the pair until some weekly or monthly pivot points halt this bearish momentum (both types of pivot points are to change at the end of this week, thus a specific downside target cannot be set).
USDSEK ShortRetest of support turned resistance
38.2% retracement
ABCD Completion at 1.272 / 4H support
Long then Short long term USDSEK observedHello Traders,
Long then Short USDSEK, adjust point B of last abc accordingly (50-61.8)% +-
I will be honored for your reflections.
Thank you.
