i like to trade C waves because they are fairly predictable and impulsive. So any time I see a possible double top I keep an eye on it just in case it gives us a C wave. That's what we have here a possible double top and potential C wave set up. Don't pull the trigger to soon wait for it to turn and use your trading strategy to enter.
I'll update this idea as it...
We did follow this pair for a few weeks now. On the daily chart, it can be seen that it reached an area where it will consolidate (based on the previous patterns) until a breakout occurs. Based on our analysis, we went long and set our TP to the previous highs (9.09523) and SL to (9.02374), where support can be seen above this area.
Trade safely!
The Forex Farmers.
FX:USDSEK
En el último año es la tercera vez que toca esta zona de precio, en las dos veces anteriores este nivel fue rechazado y el precio bajó, la resistencia fue fuerte. Esperamos que ocurra lo mismo.
El precio está en los niveles máximos históricos, en pocas ocasiones llegó a este nivel y siempre rebotó en la resistencia.
Agosto 2018: el precio rebotó en la...
El pullback en temporalidades pequeñas ya se dio, sin embargo en temporalidades de H4 y mayores tenemos una tendencia claramente bajista a la la cual apostar.
Podremos entrar en el siguiente retroceso M15 aunque aun bajara antes de eso incluso en esta temporalidad.
The price is creating a triangle formation. In the case of the upward breakout, the price will first reach than bounce off from the resistance at 9.9500 level. The vicinity of 8.7600 will be a target and strong support.
USDSEK are making a triangle pattern. The currency pair is currently at a very high price compared to earlier prices, with the only higher price being in 2008, 10 years ago. Because of the overheated economy in the US, and the inflated currency pair, I see the triangle pattern being the start of a very long decreasing trend. Stop loss will be right above last high.
The U.S. Dollar vs. the Swedish Krona. At times of market stress the U.S. dollar can act as a safe-haven asset, but swings in broad-based investor trends can make the USD/SEK exchange rates very sensitive. The pair can also sensitive to relative monetary policy expectations for the Federal Reserve vs. the Riksbank, Sweden’s central bank.
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