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USDDKK

Jump n FallDo you like Head and Shoulders pattern, wolves?🔥 Here it is, guys! Today we have h&s pattern on USDDKK on a big frame. There was a strong bearish movement before then price entered into correction. Price has drawn h&s at the top of this correction and now it already broke support zone. Possible retest of the new resistance zone is expected. However the price may fall without correction. So follow the chart and wait for the best price to enter carefully. If you enjoy my FREE Technical Analysis , support the idea with a big LIKE👍 and don't forget to SUBSCRIBE my channel, you won't miss anything! Feel free to leave comments✉️ And always remember: "we don't predict, we react".
Short
by Berzerk_invest
1
There is a possibility of the beginning an uptrend in USDDKKMidterm forecast: While the price is above the support 6.04400, beginning of uptrend is expected. We make sure when the resistance at 6.09700 breaks. If the support at 6.04400 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 45. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity_World
6
There is a possibility of the beginning an uptrend in USDDKKMidterm forecast: While the price is above the support 6.04400, beginning of uptrend is expected. We make sure when the resistance at 6.09700 breaks. If the support at 6.04400 is broken, the short-term forecast -beginning of uptrend- will be invalid. Technical analysis: Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains. Relative strength index (RSI) is 45. ❤️ If you find this helpful and want more FREE forecasts in TradingView . . . . . Please show your support back, . . . . . . . . Hit the 👍 LIKE button, . . . . . . . . . . Drop some feedback below in the comment! ❤️ Your Support is very much 🙏 appreciated! ❤️ 💎 Want us to help you become a better Forex trader ? Now, It's your turn ! Be sure to leave a comment let us know how you see this opportunity and forecast. Trade well, ❤️ ForecastCity English Support Team ❤️
Long
by ForecastCity
7
USDDKK (4H) Backtest : 76% Win rate (19.75 R), 82% non-losers!Detailed backtest results - prnt.sc - Win/Loss ratio : 433% - Non losers : 82% - Net R : 19.75 R across 17 trades - Avg R / winner = 1.52 - Avg R / trade = 1.16 Icons on the chart - Thumbs up : Trade was a win - Thumbs down : Trade was a loss - Circle with a cross : Trade was breakeven - Cross : Did not take the trade due to one or more trade qualifiers - Bug : I could not understand how to trade, so avoided trading Trade qualifiers - $ icon : DXY was either supporting the trade direction (and we took the trade as win/loss/BE), or DXY was not supporting the trade direction (and trade was not taken) - Dollar bill icon : Liquidity was present behind the stop loss How to read icons on chart? - Thumbs up + $ icon => Winner trade, direction was supported by DXY - Thumbs down + $ icon => Loser trade, direction was supported by DXY - Cross + $ icon => Trade skipped because DXY didn't support trade direction (though a liquidity hunt wasn't an issue) - Cross + $ icon + Dollar bill => Trade skipped because DXY didn't support trade direction & a potential liquidity hunt was due near the stop loss - Cross + Dollar bill => Trade skipped because a potential liquidity hunt was due near the stop loss (though DXY did support trade direction) Indicators at bottom of chart 1) Count of HH/LL for the pair - shows when market structure is broken => Also generates a signal on the main chart (highlighted vertical lines) 2) Count of HH/LL for DXY - shows how the pair is moving in correlation to DXY 3) Correlation of the pair with DXY - just to give an idea about how the correlation is moving Strategy Pickup a pair which is highly correlated to DXY AND Wait for market structure to break, then trade the retest of that zone. Zone is drawn using the first candle which crossed the pivot high/low to begin trapping the traders AND Liquidity in form of equal highs/lows should not be present behind the stop loss AND Since the pair is highly correlated to DXY , the formation of HH/LL in DXY should support the trade's direction at the time of zone's formation Risk management 1) Reduce 50% at 1R => Trade becomes risk free 2) Reduce further 25% at 2R AND move SL to break-even 3) Close trade at 3R 4) Winner = 1.75R Variables Avg winner = 1.75R PS1 : Please excuse the busy chart! PS2 : This backtest was performed right to left, so could include visibility bias. However, I tried to follow the strategy rules in all trades.
by makuchaku
1
Price reversal and breakout Long Idea USDDKKPrice has been in a long downtrend and finally hit a key weekly level. Price began to range and form a head and shoulders reversal pattern. Heat map indicates that we are looking for buys along with the recent strength of the USD. The Danish Krone is also pretty weak compared to the recently bullish dollar and is starting to sell off around its key level. The MACD is also showing strong momentum. Candlesticks indicate bullish price action along with 3 white soliders. Lastly, although I didn't bother to draw it, the previous rally retested at the 61.8% fib level. This is a crap TON of confluence! All of this points to a strong buy on this pair. We have to 2 entry options. We can buy on the breakout with a stop below the previous low or we can wait for a pullback to support after the breakout (my preference) if that occurs. Either way, it should be an explosive move. Good luck! Happy Trading.
Long
by BluePipSquad
The improvement in Denmark’s unemployment rateThe pair will continue to move lower in the following days towards its September 2017 low. The improvement in Denmark’s unemployment rate will send the greenback to the $6.10 price level. Denmark posted a 5.1% unemployment rate in yesterday’s report which indicates the potential recovery of the country in the coming months. This positive data further made the US reports bleaker. Yesterday, the largest economy in the world posted two (2) important data that measures the country’s overall economic health. The second-quarter gross domestic product (GDP) QoQ report posted a 32.9% decline, the highest dropped in quarterly growth for almost a century. In addition to this, its initial jobless claims report added a bigger number of claimants at 1,434K. The plan to inject another $1 trillion stimuli to the local economy will not help either. The $6 trillion approved stimulus for COVID-19 has sent the US dollar to its lowest level in years.
Short
by Financebroker
USDDKK: Long opportunityFor some reason it won't let me draw trend lines on the RSI band. Looking to play off the bullish divergence established on the daily. There is decent support at the green line, which offers a good risk to reward. The overall trend is still downward, so I only plan to trade within the FIBS and take profits before the .382 or dead cat zone. Even if this range, the trade should still yield nice profits, as the final target is still over 1%. Don't get greedy without a take profit or trailing stop, it could easily knife back down at strong resistance.
Long
by infbp22
USDDKK Long - FlashcardUSDDKK Long Direction: - On the H4 USDDKK was in a Bullish OrderFlow. - It entered the H4/H1 liquidity area. Entry: - W (Double Bottom) Pattern formation on both the H1 & M15 - RSI crossed the Signal Line (Shark-fin) on the H1 & M15, indicating a probable rise in the pair. - RSI was near the 32 on the H1 & M15, indicating the pair was oversold. - I entered once the candle moved and closed above the 13 EMA, on the M15. Exit: - 22 pip SL @ just below YL (Yesterday's Low), as it is a resistance point. - 29 pip TP @ 200 EMA, as it is a resistance point.
Long
by FotiosDimitriou
USDDKK Simple bearish setupHey there! Very simple setup explained in the chart. This trade has a stupidly high Risk to Reward ratio so we cannot let it pass. If you have any questions please leave them in comments. Did you like the idea?? Give us a thumbs up!! Do you have a different view and analysis? Let us know in the comments. I love to be proven wrong. It is the only way to become better. Remember that trading is only part of your life. Do not spend all day in front of the screen!! Surf, Trade, Live!!
Short
by MicKi