USDSEK: Update
Updated
We have reentered longs on this dip back to the FOMC/Rate hike key level support.
I'm buying a position gradually for a couple more days, so far, I have fills at 9.1643 and 9.2085, which will constitute my reentry to ride the long term uptrend here. My trading plan lets me increase position size and reduce stops gradually, until the trend takes me out if it starts retracing, after which I wait to reenter at the end of the corrections.
Risking a drop under today's low is probably good, but also a bit aggressive for now. If it were to get oversold, we would have a bit less risk with tight stops, so for now, I risk 3 average ranges down from my avg. entry price. I'll gradually add, and eventually trail stops up in profit, and continue to add as per the plan if the trend remains up.
When markets are trending strongly, we can make a lot of money, so, make sure to not miss the moves here.
See related ideas for more information on this pair's signals. If interested in learning more, contact me via pm here.
Cheers,
Ivan Labrie.
I'm buying a position gradually for a couple more days, so far, I have fills at 9.1643 and 9.2085, which will constitute my reentry to ride the long term uptrend here. My trading plan lets me increase position size and reduce stops gradually, until the trend takes me out if it starts retracing, after which I wait to reenter at the end of the corrections.
Risking a drop under today's low is probably good, but also a bit aggressive for now. If it were to get oversold, we would have a bit less risk with tight stops, so for now, I risk 3 average ranges down from my avg. entry price. I'll gradually add, and eventually trail stops up in profit, and continue to add as per the plan if the trend remains up.
When markets are trending strongly, we can make a lot of money, so, make sure to not miss the moves here.
See related ideas for more information on this pair's signals. If interested in learning more, contact me via pm here.
Cheers,
Ivan Labrie.
Note
So far, that was the low and we're now seeing bullish price action, holding above the uptrend support.Note
After today's close, we need to wait for a smaller range day to start buying this one back. I got out of all FX trades yesterday before the dollar tumbled too much.Note
Update chart and you'll see how the key level acted as support. I'm looking to reenter longs at market open, since we held so well at support.Note
Note
Looks good overall.Trade active
This is the bottom of the pullback. Stop under Friday's low should work.
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