USDDKK trade ideas
USDDKK wonderful long opportunity We have been talking about this for awhile as its makes it way up to the top of the pattern. We took half profit at the top of the pattern but now that we have broken and whats looks to be a possible retouch we will add in a half position and see if we can get a thrust north.
USDDKK, Still a GREAT setup take a lookIf you look back on my charts I posted this around 2 months ago. I decided to repost because I felt it was still worth new faces seeing. The pattern as stated previously clearly corrective, I knew it had one more move to the upside so I allowed it the time it needed to get there. Yea I know most of you hate being in trades for long amounts of time, and to be honest I do most of my trading short term. However I love the fact that you can just take a breather while it develops and works itself out instead of constantly checking to see if its hit your stops or not. It was refreshing putting some bigger trades in for longer term that I was more sure off than others. Now that we have hit my first target area I will wait to see if we can get a break retest and a nice surge up to the shaved candle on the monthly around the .764 Fib. Yes this will take awhile, yes it is worth it to be patient and let itself run its course, it has a long way to go. My entry was 6.6650 area
USD/DKK D1 SELLA BIT LIKE THE USD/CZK PLAY PRICE BOUNCING OFF A KEY ZONE 6.8 AGAIN IF WE GET THE RIGHT TYPE OF BEARISH PRICE ACTION LOOK TO SELL INTO 6.6 - 6.5 ZONE
SL 6.83
TP 1ST TARGET 6.685
TP 2ND TARGET 6.56
USDDKK weekly chart, correction before another move up?I think it will stay within the pattern for quite awhile longer bouncing around, especially considering this is a weekly chart. However I think over time we will eventually get a nice move up. Because of the large time frame this is one of those patterns you let have a sure break and retest before hopping in. Will stay updated
USDDKK GOING FOR ONE MORE WAVE UP?After the breakout of the monthly downward trendline with a strong impulse this pair is in the middle of a correction. In this moment it seems channeling to the upside of this structure. In both scenarios on chart i'm expecting a breakout to the upside.
#USDDKK: Bears Around, Downside To Be Seen To Lows!The pair hit sideways support, formed a double top, and created multiple indecision candles with bearish follow through. Expecting nice downside. I hope you have a tested trading strategy to trade this move when it starts.
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At The Cliff's Edge...Perhaps it could be a slippery fall down... (Similar to the USDSEK pair situation right now...)
Again, all hope lies on the US Dollar for one...
(Or perhaps emerging/commodity currencies need to continue to weaken even further...)
Does USDZAR also ever have hopes of revisiting a new high...? (That one unlock clues to the future of other/exotic pairs for me...)
Re-Testing strong resistance on the USD/DKK.The Mother of all resistance levels, if we go back 25 years to June 1991, July 1993, July 1997, February 2003, February 2015 and November 2015 the 7.13000 level (area) has never failed except during the 2000/02 crash where the dollar skyrocketed. As the price is now showing signs of consolidating (yellow box) the recent primary trend (blue arrow) is usually continued. It would be a high probability trade to go short at the Resistance level.
SELL SELL SELL - LOW RISK TRADESHORT TRADE :
Entry : SELL @ 6.7730
Target : 6.6300
Stop : 6.8335
Risk Level : LOW
RR ratio : 1:3
USDDKK - Long trade idea for next weekOn 4H, USDDKK oscillates between two main parallel trends since 3th December 2015. PA is currently under the cloud but just bounced on a layer of supporting lines. We may now except an attempt to reach the Kijun with a weakening Danish Krone. If Kijun is broken, PA may attempt to traverse the cloud which would be the first strong sign of a bullish trend.
In case of cloud traversal, the main trigger will be the level 6.906 which in case of a break by the lagging span (and bullish Ichimoku signals) would open the doors for a long trade.
