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Eurseklong

EURSEK longEntry @ break of second waves 0.618 retracement Stops @ new low below first waves 0.618 retracement or below 0.500 retracement (multiple violation of strong supports) based on preference Target @ first waves -0.272 level (third wave completion), or alternatively at previous high. After 3 failed tests price broke out from range and in spite of returning a second clear breakout happened confirming the significant buying power. The previous resistance currently functions as strong support. Fibonacci confluences also adding up to the current support zones strenght, violation of that zone would invalidate the current plan. In case of exhaustation a new range may estabilishes within the blue rectangle where the trade should be re-evaluted or closed with a moderate loss. Contrsuctive comments are welcome
Long
by noise_of_the_machine
Make or Break ResistanceAs predicted, it found support on the previous high-trend line. SEK is releasing 'Industrial numbers in within the half hour, also EUR is releasing PMI within the hour. Depending on the released numbers, I strongly believe EURSEK is a long. Buying volume seems much stronger than selling. No cash build to be seen the last week. If it breaks above the 200MA (orange line), i'm in for a long position. (I do not trade the golden cross. In my experience it's not reliable, I mostly ignore it - but if you don't like that. Stay away from this one.)
by chastic
1