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.
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.
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