FinancialGamblR

USDSEK Fails To Hold Above 10.1861

Short
FOREXCOM:USDSEK   U.S. Dollar / Swedish Krona
We have two key price action markers on the daily timeframe .

1. Price makes an attempt to trade above previous highs and it does. However, price failed to hold above and close.

2. The subsequent candle is an indication that momentum to the downside is accelerating. With the DXY looking bearish , this is a good sign that we can expect further downside.
Comment: Here's the hourly price action:


It doesn't look as clean now, but price was indeed looking to breach the neckline just a few minutes earlier.

Often the contrarian. Looking to take structural directional moves with high R potential in order to sustain a lower win rate. I do not disclose my position sizing, scaling, or trade management. View at your own risk.
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