ridethepig | KRW for the Yearly Close

FX_IDC:USDKRW   U.S. Dollar / South Korean
📌 KRW for the Yearly Close

This brings into an important consideration for review the long-term KRW chart, the plan chosen by sellers has been able to lure in late unaware buyers at the highs because of the simple nature of the impulse employed. By trapping the highs and aiming for the negative break in the yearly close, it is a very bearish sign.

Moves like these, do not happen often and are noteworthy. Another Yearly outside candle which as a matter of fact, should fix itself towards 900. What is important for us to track here is the 'pressure' break which is being played after the Fed capitulation. So it is worth considering adding to shorts as this looks set to continue in 2021.

📌 Nevertheless, I will continue to go through the technicals across the board, before we dig into macro details together towards the end of year for a final talk shop.

Thanks for keeping all the feedback coming 👍 or 👎


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