The USDSEK has recently made a upwards corrective move, since the down slope move from the highs of the beginning of March, finding a strong resistance barrier around the 8.15 area. The weekly long-term GMMA (orange) since then has been in compression mode, indicating that there is a high probability of a true trend reversal. On the other hand, the RSI(14) has been respecting the downwards trend line (black in RSI plot). In turn the Stochastics seems to show a negative divergence, i.e. while stoch made a significant higher high, entering in overbought territory, price almost did not. Putting all this information together, I think there is a high probability of more down moves for this pair.
Order 1:
Entered short @ 8.1325
SL @ 8.239
Tg @ 7.893
Trade management: boxes in units of risk-to-reward ratio
Order :
Entered short @ 8.1325
SL @ 8.239
Tg is open
Trade management: boxes in units of risk-to-reward ratio. Move stoploss to break-even as soon as Order 1 hits target.
Order 1:
Entered short @ 8.1325
SL @ 8.239
Tg @ 7.893
Trade management: boxes in units of risk-to-reward ratio
Order :
Entered short @ 8.1325
SL @ 8.239
Tg is open
Trade management: boxes in units of risk-to-reward ratio. Move stoploss to break-even as soon as Order 1 hits target.
Trade closed: stop reached:
Well, I got stopped out in this one. Lets see how this pairs evolves and patiently wait form a new opportunity.
