Swing Trade Idea on USDSEK by ThinkingAntsOk
Main items we can see on the chart:
a) The price has been on a bearish trend since MARCH 2020
b) Currently, the price is below a previous Support zone now working as a resistance
c) The main style of the strategy we are showing here is looking for previous situations at the same level and use them as models for possible resolutions on the current scenario.
d) Based on that, we think that if the price breaks below the Daily structure, we have freeway towards the next support zone at 7.9
e) In case the price keeps rising, we will cancel the setup
f) This is a Swing Setup meaning that the resolution can take several weeks or 1 to 2 months.
a) The price has been on a bearish trend since MARCH 2020
b) Currently, the price is below a previous Support zone now working as a resistance
c) The main style of the strategy we are showing here is looking for previous situations at the same level and use them as models for possible resolutions on the current scenario.
d) Based on that, we think that if the price breaks below the Daily structure, we have freeway towards the next support zone at 7.9
e) In case the price keeps rising, we will cancel the setup
f) This is a Swing Setup meaning that the resolution can take several weeks or 1 to 2 months.
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