Short Vision on USD SEK for 10/2/2022Hello Dear Traders,
You find below my analysis for USD/SEK, the currency pair is in the sell zone. I expect the price to fall. According to my set of rules, in the M30 frame USD/SEK will fall to 9.13 as I am showing in my chart. Our Daily Goal is 9.11
Currently, USD/SEK is moving towards the resistance level 9.17,where there is some liquidity from this value we are looking for short-term selling opportunities of USD/SEK.
Good Luck and enjoy your Bearish Market for today.
Entry:@9.17
TP1: @9.15
TP2: @9.13
TP3: @9.11
SL: @9.2
As mentioned on previous posting, we oscillate daily with the market based on Human Behavior and Sentiment.
Feel free to share your thoughts and opinions in the comment section below, I will be glad to discuss my friends!
SEKUSD trade ideas
USD/SEK preparing for a big drop (long term)USD/SEK has some more upside as a 5th wave to go before downward trend continuation.
The price should, in this case, continue to at least a 161.8% extension of A B but it could even go higher to the 50 to 61.8% range (se the box area).
A lower low in that area should be a trigger for shorting with a very good reward risk ratio.
Longer term short on USD/SEK?Disclaimer: I have no idea what I'm doing so don't listen for a second about what I'm talking about. I'm just hypothesizing and learning.
My thoughts:
The week ending November 22nd saw the finalization of a Navarro 200 harmonic pattern on the weekly chart. Price since then seems to have rejected off the resistance at the 9.1/9.2 area that lends to the bearish downtrend. There is a bearish butterfly pattern followed by a double top on the daily, but as of now, the price has not broken below the neck. I would be entering a longer term short if it does so in the next few days. I will also wait to see what happens with the cup and handle chart on the 12 hour to see if things are thrown on their side in the short term. Might be able to scalp a long before a drop. The 1 hour appears to be in a nice bearish channel.