nakedchartist

ERUSEK a short from neckline retest

Short
FX:EURSEK   Euro / Swedish Krona
From larger timeframe I can take a strong bearish week below 3 months low.
I am now looking at a neckline retest and there is a channel of sorts with macd divergence from the recent peaks.
Price remains below the f6 from the downflow that I have identified.
My bias is wrong if it should day CLOSE strongly below the green lines.
Spikes are not considered SL for me.
TP i can look to aim at recent low and have the other portion extended to below.

Comments

Trade TP at the Dirty green level , which is a possible neckline of a bigger potential hns. The other positions shifted BE n to run.
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nakedchartist nakedchartist
conclusion is that the macd divergence was clear cut and looked good, in the sense that , 1. there was a clear higher high. 2. the price peaks stopped at two. 3. There was significant cleavage between the two peaks , which made it clear that the WR/ bull trap was conclusive.
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nakedchartist nakedchartist
I am happy that I stuck to plan and took profit at dirty green level. Price super rebounded.
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1st attempt last week , it did not have my usual channel divergence setup. I did not feel good.
This time, I hope that with better Re n fib confluence and at higher price with channel divergence setup, the trade can be more promising.
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