SEK at resistance - double top?

Morning Dynamic Traders

The Swedish Krona is on my watchlist. My preference is a short trade as the trend is down (look back further on the daily chart). Having said that, I'm indifferent to which direction price goes, so long as the right set up is there for an entry.

At the moment price is contending with a strong resistance area, provided by a previous resistance level, the VI and RN. Odds suggest price may weaken at this point, which could give us a DT chart pattern as an additional confluence for a shorting opportunity. Entry could be taken on a BOB of the recent low, or of the TL.

The other scenario of course, is that price could break through this R cluster and joins the bulls for a price rally. Note the previous convergence (which may simply be relating to the recent bounce up). Should there be a break up and a reversal situation, I would like to see a BOB of the VI followed by a breather/retest before entering long.

















Have a fantastic day of trading. Keep it emotion free and always stick to your game plan. Great trading!
Sonia Molina