Approximately a month ago we had a nice catch of a top and a short counter trend trade, which both outright and through put options was quite quickly profitable.
If you remember, in the last comment of the previous trade idea I called the attention in time to close the bearish positions, as the major trend was/is still up. Last Friday's and especially today's price action clearly shows the higher time frame alwys dominates. It is also a signal that the EUR is not yet totally doomed, at least not on all crosses.
Indicators started to point towards bullish again, so there is chance to see 9,10+ levels again. Given the fact the ECB has to do something after so many promises, I rather don't chase a long trade here, but will watch if EURSEK can print a higher high on the daily chart or not. Who knows, maybe the next turndown will be a major bearish reversal.
If you remember, in the last comment of the previous trade idea I called the attention in time to close the bearish positions, as the major trend was/is still up. Last Friday's and especially today's price action clearly shows the higher time frame alwys dominates. It is also a signal that the EUR is not yet totally doomed, at least not on all crosses.
Indicators started to point towards bullish again, so there is chance to see 9,10+ levels again. Given the fact the ECB has to do something after so many promises, I rather don't chase a long trade here, but will watch if EURSEK can print a higher high on the daily chart or not. Who knows, maybe the next turndown will be a major bearish reversal.
