USDDKK trade ideas
A Roadmap Reversal Strategy Using Higher TimeframesHi Purpose Traders. If you've been struggling with reversals and when to use more timeframes to trade them, I created a video for my client Eddie that I wanted to share with you all. He has progressed so much and is overcoming one of the greatest fears most traders have which is relinquishing control over the trade.
I pray this video helps you as well. Be blessed.
USDDKK 23rd MAY 2022Amid losses across markets on fears of the impact of soaring inflation , a hawkish Federal Reserve and the Russo-Ukrainian conflict. Coronavirus-induced damage to the public finances has been minor, reflecting a large fiscal surplus prior to the pandemic. In response to Russia's invasion of Ukraine, Denmark has pledged to donate 2,700 anti-tank weapons to Ukraine.
Market participants sought refuge in safe-haven assets amid fears of the impact of a spike in inflation that hit its highest level in four decades. Dollar still tends to strengthen with a bearish correction for the next few weeks.
USDDKK Two spots for a comfortable long-term buyThe USDDKK pair has been trading within a Channel Up for more than 1 year. The recent 1D RSI sequence points to a medium-term top. Long-term buyers can either enter on the 1D MA50 (blue trend-line) on a tight stop loss and if triggered wait for the final buy on the 1D MA200 (orange trend-line), which buy the time will be on the Higher Lows (bottom) of the Channel Up.
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USDDKK 20 JANUARY 2022 1610 hrsSupply (sell) pressure looks light coming off of that previous supply zone. But we dont want to buy this close to a previous supply zone. There may possibly be more supply right above there that can knock the price down. You want wait so that there is space between yor entry and a previous supply zone.. why is that?
Because if you allow yourself space you will have time to react in teh event supply comes in and knocks teh price back down. This will allow you to determine wether or not the trade is still viable. If not, you can close out the trade before absorbing a large loss.
How many time have you bought at market and immediately the price turns on you? Like they are watching YOU specifically. Here is a secret... they are not watching you.
In an uptrend we are waiting for accumulation/re-accumulation to take place. To identify when this is happening you need to see stopping volume (climatic volume)... If this is something that you want to get good at:
Sources of education:
Richard Wyckoff
Tom Williams Volume spread analysis VSA/ Master the Markets
Pete Faders VSA*
Sam Seiden (supply and demand)
Read the ticker dot com
Wyckoff analytics
PsychFX
MentFX
Element 15 trades (bitchute/odessy)
Avoid buying into weakness/supply/resistance
Avoid selling into strength/demand/support
Avoid entry when price is in middle of a range (phase B)
Also Pete Faders VSA is starting to put free content out on YouTube again. He can explain it better than I can and offers courses if you want to go down that hole. However, you can learn the majority of the material through the free videos posted there. Once you leanr volume analysis you will wish that it is where you started.
Ichimuko: USDDKK Danish kronerIf you like my strategy, please strictly control the single loss between 1-2%. We have played many games in the market. The investment itself is very low-risk, and irrationality is the biggest risk.
My trading behavior report is available at the link below.
I can analyze the market in a short time, involving foreign exchange, encrypted currency, commodities and stock indexes.
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Can The Bulls Push The Dollar Higher?The Dollar index topped 96.00 last week and is now retracing. The bulls can potentially push price higher again if price can stay above the higher low at 95.51.
In this video, I've also added USDDKK which is a positively correlating currency pair. Take look and be sure you're following me here on Tradingview and Youtube(SLFX Trading).
Have a safe trading week.