FOLLOW-UP STRUCTURE | USDSEK

Presently enjoying a 1,862pips run on our last speculation on this pair (see link below for reference purposes). The current structure emphasizes the downtrend tendencies, see plan below;

Tendency: Downtrend (Bearish)
Structure: Head & Shoulder
Observation: i. After a bullish impulse leg, Price rise to a high ( Shoulder) and subsequently falls back to what is called the neckline.
ii. The price rises above the former high to form a Higher High (Head) and then again falls back to the original base (neckline).
iii. Price rises a third time, but to a level approximate to the first (Shoulder), before falling back to the base or neckline of the pattern again.
iv. Price below Moving Averages.
Trading Plan: SELL with a potential profit of 6,0000pips.
Risk/Reward: 1/4
Potential Duration: 15 to 30 days

** Please note that Stop Loss/risk-reward ratio is subject to individual risk appetite per trade and account size.

Watch this space or channel for follow-up plan on lower time frames as price action is been monitored.


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