You can set a longer stop loss.
I would love to hear your feedback do you think the trade will complete in profit or will the stop loss get hit!?
This is not financial advise, trade at own risk.
USDSEK (1H) - short term bullish bias
The US dollar started the week with a lead in continuation of Friday's momentum. The bullish RSI divergence at the November low of 9.5450 was the first hint that selling pressures were easing off and the price could start to turn around. The break above the moving averages and the bullish MA cross came as further...
USDSEK (1H) - short term bearish bias
Last Wednesday's rebound turned out to be false hope for those who tried to buy the dip. The pair came under pressure at the 30-day moving average and could not sustain the lift. As the greenback sank below the major support of 9.6060 it became clear that sellers were still holding the reins. This morning's bearish impulse...
Last post: May 31st 2018. See chart .
Review: Price was struggling to break through the round number 9.0000.
Update: The bulls are firmly in control. Price is now trading above the ATH and showing signs of strength towards 10.0000.
Conclusion: Standing aside until a clear trend direction has been confirmed above the ATH. Patience for now.
Any comments or...
Right guys , I have been on the roll with this move , and it nearly toke 2months ahaha . but as you can see price has broke out from the range with a bullish momentum. So my next trade is to short this when it get the previous high , I know many might be skeptical of waiting till it get to the previous high / if it get there and make a new high . well i don't see...
Last post: May 20th. See chart .
Review: Price had found support and the bulls were back in control of the market.
Update: The bulls remained in control, taking price through resistance but this week has seen price fail at the round number 9.0000.
Conclusion: Standing aside for now until the round number is confirmed as support before considering long...
SEK weakness continues to reign , previously we saw a potential double bottom (DB) form with the February low (pattern later confirmed with a break of the neckline in April) and had further reason to be convinced of the reversal with an A-B-C reversal pattern forming off the same Feb low.
After reaching a YTD high of 8.9159 we saw a ner retest of the DB...
Last post: April 26th. See chart .
Review: A retest as support was expected following a break through key pivot resistance.
Update: The retest was sometime in coming. A break and close above May resistance is now needed to suggest a trend continuation.
Conclusion: Standing aside for now until the breakout and trend continuation has been confirmed.
The USDSEK is new to our trading blog and one that is starting to look like a potential long setup. We have recently featured both the EURSEK and the GBPSEK for trend trading trading opportunities so it is no surprise that the USDSEK is of interest too.
We last traded the USDSEK back in 2014/2015 when we had the last significant period of trend on several...