BabushkaTrader

We go Long or Short on the balance extreme in the USDPLN

104 2 0
Given the conflict an increased aggressive Russia there may be a political risk in the process of being priced in some European countries currencies .

Also given the sanctions there is a weakening of the economy such as the Polish which has some trade with Russia even though Germany is the largest.

According to the McD             Index , Poland has one of the most undervalued currencies but this is useless information in the short or medium term.

Irrespective of this we see a strengthening of the USD that is approaching a balance extreme that may break so we either go long or short at this position. When studying the chart one could infer some type of a cup and handle pattern but I am not very keen on that paradigm.
BabushkaTrader
2 years ago
Long position initiated
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BabushkaTrader
2 years ago
Stops moved to break even.
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