On a one-day timeframe marker is moving upward. There are two resistances if the market didn't break the last one it will move downward.
The market is most likely to break the first resistance to hit the SL of treaders. Bulls have power today but in the primary trend, bears are in power.
CHFSEK $CHFSEK Initial Long. This is a pure momentum signal just as are every other signal I post. ZERO other factors are considered in producing this signal.
Entry reasons: CHFSEK is showing momentum and confluence of mean reversion crossing up the 70 day price mean.
Exits and SL: TP and SL on chart. Move SL on TP. After TP2, trail with 0.5xATR step and 1.5xATR offset.
The market after an upper move inside a channel has created a huge head and shoulder patter on the weekly chart.
On the daily chart the price after the slope has retraced till the 0.382 fib level and now retesting the weekly structure.
IF the price will manage to break and close below the structure we can set a nice short order according with our...
=> Here we are tracking the Riksbank meeting on Wednesday with hikes expected to come in either December or February.
=> We expect December to remain on the cards and continue supporting a bullish SEK tone.
=> On the Swiss side, as you all know from our previous ideas Swiss investors positions in foreign assets remain largely FX hedged so there is little concern...
Traders,
Seeing a nice long oppertunnity on CHFSEK .
After we broke the resistance we saw a sideways movement for a week, today we finally broke out.
We could see some nice upside movement here.
Good luck.
