While waiting for the USD bear market to resume, I have placed an order to buy USDSEK in the up direction. The most ideal stop would be placed under the previous daily low of support at 8.5700, but I don't want to stay in the trade that far should the trade go against me and the dollar suddenly continues to shoot down; hence, a smaller stop on the chart, and a smaller target to what I believe is an equilibrium price if USDSEK decides to move up or overshoot.
Further technical reasons:
(1) Stochastics oversold
(3) at extremes and
(4) Harami Japanese price pattern called a reveals hesitation of the previous bear swing to continue, and a swing is pregnant, but it could lose its pregnancy although the sign is there, which is why I don't want to hold to the 8.5700 swing low. I'd rather just get out if the bear swing continues.