Friends,
A few days ago (well, 20 to be precise), I posted a preliminary chart of this $USDSEK pair on the "Predictive/Forecasting" Forum (link to forum: www.tradingview.com) - At that point, the chart looked as follows:
(Link: )
As of today, price has moved in the expected direction and completed a Wolfe Wave at Point-5, yielding this current chart...
The Daily trend is in a Downtrend technically indicated by following:
• Dow pattern- lower tops and lower bottoms (T1-B1-T2-B2).
• Price is currently trading BELOW the downtrend line.
The downtrend is confirmed by the bearish cross of MA10 below MA20.
Prices are trading below the support-turned-resistance level at 8.183.
RSI:
• Bearish divergences are commonplace...
I wrote on June 04 that, the USDSEK pair was on its way to re-experience the support of 8.17895 due to the negative pressures appeared over daily studies.
Read More: www.fxcomment.com
Previous Analysis: www.fxcomment.com
Here is another example of how the high and low for high wave candles are usually trade-able support and resistance levels. I think the chart explains it all.
When spotting a long legged candle(long shadows) its important to keep an eye on the high and low of the candle as potential key levels of resistance and support. In many cases those levels act as barriers...
Riksbank has introduced negative rates and a mild form of QE. Comments from the banks board suggest willingness to cut rates further and increase QE to remain on par with the EU.
Good Fridays US Non Farm Payrolls will be in focus and lets not forget markets might be thin for the holiday. This trade aims to be in profit before end of week volatility.
Open 3...
USDSEK has been bullish for a while. Been in and out of USDSEK more times than I can remember
Risk reward for this trade is over 8. (I never make a trade with a 3 R/R and under. But most my trades average over 5.
If you look back to my previous idea on this pair (Posted 19 days ago) I did buy the last pullback and i did hit target successfully, now i've waited...
Gone long in USDSEK after finding it had bullish sentiment.
I was able to get a Risk/Reward profile of 14.65 on this trade. So I was happy with this.
Methodology of this trade
1. We had a reversal candlestick pattern
2. The stochastic was in an oversold condition
3. The pattern came off the 20EMA support.
4. We find the candlestick pattern came right off a...
This an update of my previous USDSEK idea.
Riksbank may have to increase its negative rates policy and scale up QE purchases if it intends to keep the currency weaker as a part of its fight against deflationary risks. A bank spokesperson denied they wanted a weaker currency which is BS (especially against the Euro) as you might deduct from what central banks are...
Price has reached the June 2010 high and put in a long wick
candle, bouncing off the 3rd quartile of a larger Pitchfork.
The weekly close is however bullish and bias is towards further gains.
Still, we might see a bounce from here, or a consolidation.
The natural target stands at Yearly R1 at 8,34. A correction
should be supported by Monthly R1 at 7,98.
I've been looking to this chart for a long time now, and we may find a good risk/reward short entry on that currency.
On the right
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SEK is now very close to bounce at least on monthly support.
On the left
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Between EUR/SEK and USD/SEK, I prefer USD/SEK where we can find a good short entry in the following days.
***
Short from...
- Extreme rises in more or less stable countries wont happen without a cooldown
- Resistance from 2 previous tops around 8.08 (yesterday's trading)
- Negative divergence on daily (can be small or large correction)
- Bear rising wedge in an up trend - if followed by tech traders, can lead to 7.5
- Secodnary parallel (purple channel) top
As much as it has been a...
Well I put the description on the chart, trade it at your own risk, and use this as a way to more or less formulate your trade idea that would fit your own guidelines for a trade. =D Since this is an exotic pair it isn't necessarily for new traders, since many factors make "exotic currency" trades different, when it comes to averaging position sizing to adjust to...
I currently don't have a position in this pair because I made the mistake of closing my huge long for no reason a few weeks ago. I want to reestablish my long. This has been a great call from a brilliant Romanian macro analyst.
I entered long at the current price, with a soft stop. On the weekly chart, there is nothing holding down this pair On that chart there...
The SEK tends to weaken against USD when stocks fall or in general when the US economy is improving.
Given the outcome of elections and a weak government in Sweden as well as a housing bubble we may see weakness in the SEK in the future.
With this type of uptrend, is hard not to get cold feet. I have liquidated most of my position in USDSEK just before there was another buy signal. The weekly is not bearish yet, no sign for a correction
Daily returned to value and rejected value with a very bullish candle, while the impulse system became green again. The uptrend in USDSEK is not over, and I...
This is the best trade I've ever made, and it's based on an idea I got from a genius macro analyst. The weekly chart leaves room for enormous gains
Last month we had some absorbtion at a very strong resistance area. After this are will be cleared, there isn't much left to stop this pair. I don't know if the consolidation is over yet. I have buy orders all...
