SAXO:SEKJPY Seem to be ready for a bullish move during the 2nd quarter of 2020. Getting off a bottom can be a bit choppy at the beginning. Look for strength if you are willing to get it. Follow for more ideas... #AHMEDMESBAH
1W Head & Shoulder Going down
Bearish pennant pattern forming, look for a short trade to the downside.
The pair is neutral on 4H (RSI = 51.094, STOCH = 45.249, ADX = 19.312, Highs/Lows = 0.0000) as it is on the median of a Bullish Megaphone pattern. Having made contact on a Higher Low last week, we are expecting a new Higher High. Long, TP = 11.550. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments...
Disclaimer - I could be wrong/Trade at your own risk...
TP = 12.700 hit as the price completed the bullish 1D leg within the 1W Rectangle (RSI = 49.145, Highs/Lows = 0, Ultimate Oscillator = 50.485). After hitting the 12.845 Resistance, the pair is expected to move towards the 12.000 support. We are short again with TP = 12.200.
TP = 12.283 hit on SEKJPY as the 1W Rectangle declined and even marginally crossed the 12.050 Support to form a new base at 11.973. This doesn't alter our support-long/ resistance-short strategy, as the pair is showing significant bullish reversal bias on 1D (overbought STOCHRSI, Williams, CCI, ADX = 22.908, RXO = 2.123). Going long, TP = 12.700.
TP = 12.792 hit as SEKJPY continues the very controlled sideways trade on the 1D Rectangle (RSI = 52.414, STOCH = 49.962, CCI = 9.9279, Highs/Lows = 0). We continue to trade within its ~ 12.100 - 12.850 range, opening a short now, TP = 12.283. Even 1W is neutral on RSI, Highs/Lows, Ultimate Oscillator.
SEKJPY has price a Higher Low on the 4H Channel Up (RSI = 66.713, Highs/Lows = 0.0449, B/BP = 0.1010). This is a long call, TP = 12.792. The upside is limited on 1D to a 12.845 Double Top.