GBPDKK trade ideas
GBPDKK SHORT TRADEHopefully I can close this out with profits before the weekend but the second straight day bulls couldn't push through resistance so I am shorting.
GBPDKKGood afternoon traders,
I see an interesting scenario forming on this currency pair.
In case of a bearish outlook I'll be looking at the current trendline to break and have a corrective pattern forming and I'll be looking then to sell with the 3 Take profit levels marked. in terms of fundamentals a Brexit deal will definitely affect the direction of the sterling.
Bullish scenario is the one that I am liking the most at the moment as generally the more times a resistance or support are tested the weaker they become and with this trendline we can see a series of higher highs and higher lows moving towards resistance.
for a Bullish outlook I'll be looking to buy anywhere above the 8.40 level with the first obstacle around the 8.60 level.
I am quite positive on the second scenario as I see the UK getting this deal ahead but I might be wrong too so will enter ONLY after confirmation.
Anything is possible in the markets so trade with care and risk management.
This is not an investment advice.
GBPDKK on the break of a weekly trendline 🦐GBPDKK on the daily chart is testing the weekly descending trendline.
The price can approach soon a daily resistance around 8.300.
IF the market will break and close above the structure we will set a nice long order according to Plancton's strategy.
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Follow the Shrimp 🦐
Keep in mind.
• 🟣 Purple structure -> Monthly structure.
• 🔴 Red structure -> Weekly structure.
• 🔵 Blue structure -> Daily structure.
• 🟡 Yellow structure -> 4h structure.
• ⚫️ Black structure -> >4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Completed Expanding Triangle GBPDKKHere we have a completed expanding triangle looking to go to the upper-medium line
GBPDKK on the break of the channel 🦐GBPDKK has moved inside a discending channel.
Price created a double bottom before starting an impulse.
Now the price is breaking the structure and the channel, after a retrace till the 0.382 fib level is created a new impulse to the upside.
At the retest of the structure we can set a nice long order according with our strategy.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Denmark’s retail figures rise, DKK slumps.
The Great British Pound, Danish Krone (GBP/DKK) fell to its lowest level on Monday 27th July which marked the bottom for July ‘20 ahead of Denmark’s retail sales figures for June, which rose from 5.2% to 6.6%. Despite this the Danish Krone weakened against the pound throughout the remainder of last week and is now testing twin monthly and weekly resistance at (1).
Danish Krone (DKK) traders are becoming more optimistic about Denmark's economic recovery as the Nordic country prepares to further ease coronavirus restrictions which could lead to growth in their economy. But as of now, DKK traders have remained cautious.
Pound investors enjoyed a solid week of gains last week as the pound rallied against most of its peers, although they still have the Brexit woes thorn in their side which is causing them to be hesitant, any signs of a consensus between the UK and the EU should give the GBP a boost.
GBP/DKK is currently being supported by its 50 period daily moving average, whilst strong twin resistance is looming overhead (1). Watch for weakness at these current levels 8.2652, as short term pound traders take profit from last week's efforts. Following any shallow pullbacks, a clean break above resistance at (1) will keep last week's uptrend intact whilst sending a positive message to GBP/DKK bulls.
GBPDKK up in a higher high higher low 🦐The market after breaking the discending trendline has break above the lower resistance and retest it
Price now is pushing up to break the 2nd structure in hh hl move.
If the candle will close above the structure we can set a nice long order according with our strategy.
–––––
Follow the Shrimp 🦐
Here is the Plancton0618 technical analysis, please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of Plancton0618 strategy will trigger.
Possible by mid july20We can expect GBP to rise to 8.3 mark by mid july 2020 as markets are opening and we are going back to the normal life.
GBPDKKGood afternoon all,
One of my possible entries today on GBP/DKK.
1. Price has formed a rejection on the resistance line with a Divergence.
2. The 4H candle shows a bearish engulfing pattern
3. The market is in a range so could be traded in this tight consolidation
Please always carry out your own analysis and be sure of using proper risk management. This is not financial advice.
GBPDKK TRADE IDEAWHERE IS ACCURATE ENTRY FOR GBPDK?
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