TheLurkingVariable

Dollar looks ready to bounce, so adding another dollar long

Long
FX:USDSEK   U.S. Dollar / Swedish Krona
It seems to be the dollar's turn now
Comment:
Wow...weak dollar. My indicators have been saying for awhile now that the dollar should bounce, but we are finally seeing the price action that needs to go with that. The "con" of being what many would call a reversal trader is that sometimes you get in a little too early and it's a little nerve-wracking and even frustrating as you wait for the price to go your way. However, the "pro" is that even when the price continues to go against you, it should circle back before too long--unless you were way off, and as I usually try to pick the low-hanging fruit, that doesn't really happen to me: as a result, I tend to have small losses or big gains in the end after it comes back around.
Trade closed manually:
I'm out, roughly 8.416
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.