THE "STOCKIE" FLIGHT! | USDSEK (LONG TERM SPECULATION)

Our existing trade (see link below for reference purposes) on this pair is currently fetching us an approximate of 359pips profit and still running. This new setup will be giving us a long term perspective to this pair as we draw out a plan to trade the expectations;

Tendency: Downtrend (Bearish)
Structure: The Three Drive Pattern
Observation: i. Three Higher highs indicated on the chart as Drive 1, 2 and 3 signalling a potential reversal.
ii. Confirmation of an approximate of 0.618 retracements on each drive.
iii. Price rejects resistance at Drive 3 (10.00000 zone) indicating a reversal.
iv. Price is presently retracing into the 9.30000 zone from where the last impulse spike.
v. Price gaining momentum towards Moving Averages.
Trading plan: SELL now or at the break of trend line indicated on chart with a pink dotted line with TP1 and TP2 (8,530pips) and SL @ 10.00000/10.20000 zone.
Risk/Reward: 1/2.4
Potential Duration: 20 to 35 days

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

NB: Follow up plan on Lower time frame coming up soon


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Nirvana! Forex Trades & Investments
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