Price is forming a descending channel ; Price possibly is forming a descending channel within the descending channel towards support. Its possible price can breakout and go to 8.70250 if price breaks that resistance its possible price can head to 8.94500 and if price breaks that its possible price can head to 9.14500.
I am looking at a retrace on what appears to be a sub Wave C. Fibonacci goals inplace on this temporary move, whether a ?x/?B wave. Will be looking for new drop entry points post this. Not financial advice.
If the price will fall to the level rapidly we should open scalp Buy.
But if it will approach slowly don't trade buy, it will become sell possibly.
We should get confirmation before.
The potential profit will be 3 times bigger than the risk.
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Hello Friends! I hope "USDSEK" will go Long 'Buy' and touch R1 then some correction. After her correction, it will touch R2 and R3.
Are you have any questions, suggestions, or feedback? Then write on a comment or private chat. If you need any help, info, or analysis. Then knock me without any hesitation.
USDSEK broke the downtrend channel
Retested the broken trend now heading higher
now USDSEK started a uptrend channel
watch price action inside this uptrend channel and price action for more confirmation
trade with care :)
any question feel free to ask :)
JUST MARVEL AT WHAT THE MKT DRAWS SOMETIMES.
LOOKS LIKE A STAR CONSTELLATION OR SMTH
But yeah, the pair will probably move the way I've drawn it too, so watch out for longz
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Main items we can see on the chart:
a) The price has been on a bearish trend since MARCH 2020
b) Currently, the price is below a previous Support zone now working as a resistance
c) The main style of the strategy we are showing here is looking for previous situations at the same level and use them as models for possible resolutions on the current...
Do you guys care to trade something bit more “exotic”? I am personally not much into day trading such pairs as USD/SEK because of big spreads and worse liquidity.
But with swing trading and long-term investing it is a whole different story. The reason is that with longer-term trades spreads don’t play such an important role. The same goes for liquidity.
USDNOK has been one of my favourite Dollar pairs I have kept tabs on ever since the DXY was showing signs of a reversal. This market structure analysis can be used for ANY MARKET since ALL MARKETS move the same three ways.
USDNOK was in a long downtrend with multiple lower highs and lower lows. Price then began to base/range/consolidate. This was a sign that the...