USDSEK: Update

If anyone followed my last update in my previous $USDSEK post, you are back in the long and in profit. Keep an eye on resistance here to see if we break through, and march to 9. If we do break the top of the range, we could trend higher, for a long time, otherwise we might form some kind of sideways pattern, or a triangle.

I labeled some of the signals from the 'Time at Mode' method on chart. You can see how it perfectly describes the rally from support, and the retracement and eventual bearish failure after the rally off the top of the Brexit range.

Cheers,

Ivan Labrie/

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Not a bad time to reduce your exposure, or trail stops. Up to you. Stop at break even is fine.

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We did break up and go over 9.

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I'm not sure if we will trend from here, maybe we just come back down to the bottom of the range. If long, better exit here I think.

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I have been trading the short side here, but with $EURUSD longs...you can read my $EURUSD posts for updates.
I'm also long $USDJPY, because for a unique combination of macroeconomic and political news, these two pairs rally in tandem (that makes $EURJPY shoot up like crazy, which at the same time acts like a proxy for an inverted $VIX)