Korea Won will break through 1300 won per dollar.Korea Won is so weak and in bearish. So I think Korea Won will break through 1300 won per dollar by year-end 2019.
Also, KOSPI 200 already broken breaks 10-year upward trend
KRWUSD trade ideas
[USD/KRW] wait for pull back to short!I set main chart as 4hr to record my trading.
But for the more clear view, you can check weekly view:
It hits the top of channel, spiked when CNY shock, and rejected to break up
So, most likely it will full back to 1185-1175 area and that will be our target.
USDKRW 5 RRR longTrading Methodology:
1. An asymmetric bullish/bearish pennant is drawn using ascending and descending curved trend lines with a minimum of three price action touche points per line. The direction is determined by the previous trend.
2. The angle tool is applied from the earliest two trend touch points, beginning at the earliest touch point.
3. A trend-based Fibonacci retracement triangle is drawn starting from the earliest trend touch point and ending at the earliest touch point of the opposite trend line .
4. Based on the degree, of the earlier defined angle, the appropriate (and secret) levels are selected for the fibonacci retracement ; two levels for stop-loss and two levels for take-profit. The closest stop-loss level to the current price level is the top priority stop-loss. Though the secondary stop-loss level is often chosen for some markets such as FX and some equities in order to account for seldom unexpected resistance breaks. The greater target level is the top priority, and where majority of the shares are sold, though some may choose to close part of the position at the first target level or set it to be the stop-loss once price exceeds it. Entries should be laddered in around the levels closest of the yellow line.
This trading strategy can be applied to any market and time frame, and positions most often garner the greatest risk-to-reward ratio with the highest success rate. What more can you ask for? I will only be posting my unique trading strategy until EOY. I work solely with price action to identify pennants and apply unique trend-based fibonacci retracement levels for SL and TP levels. Reach out to me if you have any questions.
USDKRW - Depreciation of the Korean Won Accelerates. After breaking the 2yr highs a couple of days ago, now it seems we will get close to 1210, a level reached on January 2017.
I expect the USDKRW to go higher, especially since the slowdown in local economy and not good news from the US/China trade talks.
I do not recommend buying the KRW at his levels. Any bad news from US/China trade talks will make the KRW go lower, and in case of good news I do not see traders going back to KRW.
USDKRW: Start of a Major USD moveUSD/KRW breaking 2yr highs strongly may be the start of a major USD move. From the chart, 1210 is the next target.
What the Korean Won Can Tell Us About Chinese GrowthMarketplace analysis of attempting to determine Chinese macroeconomic stability and growth is insatiable. Because of this, I am continuously interested in finding proxies for the Chinese economy since low- to medium-frequency data out of China (GDP or manufacturing figures) are notoriously inaccurate.
With South Korean GDP figures out this week unexpectedly low and the Korean won depreciating significantly against the dollar, to what extent can we use the Korean economy as a proxy for Chinese domestic industrial or consumptionary activity?
According to correlation coefficients, the answer is yes. Strength in the US dollar against the Korean won is highly correlated with the Australian dollar, a proxy for Chinese raw material consumption, the EEM emerging market index, a less speculative proxy of Chinese equities than the traditional Chinese indices, and also a Chinese consumption ETF. Although the latter follows a bit of a speculative bent, it still can provide interesting insight.
Overall, trade with China accounts for 26 percent of all South Korean exports. Chinese GDP figures are based on political promotions, but currency and equity markets are not. Price action in the Korean won against the dollar and South Korean GDP figures do not lie. The economy is hurting because less won is in demand from less Chinese consumption. This could be a canary in the coal mine or it could be a blip on the map as had been last 1Q19 US GDP growth which saw a rebound up beyond 3 percent in 2Q19 as just reported today.
But all good things must come to an end. Chinese growth was always unsustainable at such high levels and still is. Markets require corrections. The question remains can Chinese domestic stimulus continue to soften the landing which is required for it to reverse from unsustainable levels of extraordinarily high provincial and national debt to GDP. To be determined. For now though, let’s just keep on looking at the more transparent economies that are highly tied to China for more accurate insights into the Middle Kingdom’s economy.
Apex of an enourmous multi-year triangleAt the Apex of an enormous triangle.Lets see where she breaks.Any ideas are welcome...
Spectacle pattern.Does anyone know what this pattern is called,I'd really like to know.I have spotted curved lines but usually those refer to parabolas from what I've seen.
This looks similar to a diamond pattern,but I'm not sure.Any ideas?
usdkrw 1100 pivot point
at r1 - reversal doji- on weekly
Short term chance for short-
long term -bullish all currency baskets pointing at strong dollar.
can u make profit with cryto trading ?i think that u can make it depend on information.
if u have good information, of course u can do it.
for more information, visit www.topbit.io
Free Real-Time Chart and Prices of All Major cryptocurrencyCryptocurrency traders can use Topbit to see the exchange rates on more than 49 cryptocurrency exchanges.
Seoul, South Korea, June 6, 2018 (Newswire) -A new website, Topbit.io, has launched to offer users a real-time chart and prices of 6,500 coins and 1,200 cryptocurrencies. The site uses Big Data processing technology and is free to all. This site allows users to see 49 cryptocurrency exchanges from around the world to see exchange cost for trades based on the currency of their choice. The goal is to help market members make better decisions about their cryptocurrency trades.
Since 2013, more than 1,500 cryptocurrencies have emerged and close to 600 of them are currently traded on exchanges. The exchanges allow users to buy and sell cryptocurrencies. The exchanges though only provide charts for buy and sell transactions without providing strategy to determine which cryptocurrencies are most advantageous for trades based on exchange rates.
“The greatest advantage of Topbit is anyone can check the price difference of cryptocurrency on each exchange in real time and for free,” says Shan An, creator of Topbit. “The site is currently optimized for both personal computers and for mobile devices, so users can look even on the go.”
Topbit will be branching out to more than 20 nations including China, Japan, the United States, and those in Europe. In the future, Topbit is planning to upgrade to provide users automatic purchasing process so that they can purchase based on expert strategy, user specified/desired condition strategy, or transactions to be triggered once selected conditions are satisfied.
“By utilizing the substantial information that we have, we aim to build a risk-free, real-time trading notification system,” adds An. “When the trading notice system is created, we will offer to our clients for free. It will permit users to track trade volumes and price distinction examination between cryptocurrency exchanges with the goal that market users can utilize Arbitrage (hazard unhindered commerce exchange).”
To learn more about the Topbit’s real-time cryptocurrency charts and prices, visit Topbit.io.
About Topbit Co. Ltd
Topbit Co. Ltd. is an internet portal service provider for cryptocurrency. It is a specially
designed website that brings information from 65 cryptocurrency exchanges from around world as a real-time. It is implemented by big-data processing technology. To learn more, visit Topbit.io.
Media Contact
Shan An
Email: shan1019@topbit.io
Phone: 82 10 8887 4680
TopBit.io - Live charts where you can monitor ANY coins/currencies For Cryptocurrency.
you can analysis market price and trend through MACD,RSI,
Bollinger Bands graphe as a real-tme from worldwide exchage.
www.topbit.io , ProvidesReal-time Cryptocurrency Charts,i thinks that www.topbit.io is best solution for trading of cryptocurrency such as bitcoin,ethereum,etc.,
becasue, it provide cryptocurrency charts and market prices that helps global users view real-time charts and market prices of 6,500 coins and 1,200 Cryptocurrency using a Big Data Processing Technology.
Topbit.io allows users to see a collection of 49 currencies by Cryptocurrency, exchange, and coin of interest for free.Users can view transaction prices for exchanges around the world based on the currency of their choice.
In addition, it provides large volume of real-time transaction data using The Big Data Processing Technology, so that market participants can see the difference in price between each exchange.
USD/KRW retracement near the end of 2019 South Korea's policy to raise the salary will make this currency inflated more and continue becoming weaker and weaker to USD. Bearish trend will continue until the end of 2019, until it meets a strong resistance at 103x~104x+. Hard resistance at 101x.
In short term, salary might undermine KRW due to inflation, however, in the long-term, this policy will attract more foreign labors and eventually have a good effect on the currency. Beside, the inflation also have good impacts on Korea's export.
At this point, a good long position will be available.
Good exit at Fib retracement 0.5
For more details, see the chart analysis.
