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U.S. Dollar / Danish Krone

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USDDKK trade ideas

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
USD/DKK: TIME TO GO LONG!As we can see from the chart above there are clear signals of buy opportunities: - Two Bullish pin bar after four bearish pin bars - RSI 14 looks almost oversold My suggestion is waiting for a confirmation bullish candle after the bullish pin bar and then going long. A wise decision would be to split the trade into two parts: 1st part: setting a target price towards the broken support 2nd part: waiting and see -> if the broken support has become a resistance = go short OR if it breaks above the support = go long Remember to put a stop loss in order to secure your capital! Not a financial advice. Enjoy your trade!
Long
by vf_investment
USD DKK ForexAs we trade I think the mane thing to understand is to not stray away from our main strategies. Something I learned in the very beginning of trading was support and resistance and I remember my brother telling me to get into a trade on the one two three rule. Here we can see this will be the potential third time USD DKK will hit this respectable resistance. It has hit it about 5 times in the past leading to great shorting opportunities. I do not see why it would not do the same again here. I have my stop loss placed and I may have entered this trade a bit too early but since it has breaker through recent support I believe we could be in for some huge profit. From my posts I have been all over the place and thinking about where to place trades but it always led me to being very indecisive. So I decided to not enter into too many but try my best charting them. But for this, I feel quite confident on. Hopefully we can gain some solid profit on this currency pair and prepare for next week. ~JS
Short
by MasterChef23
USDDKK Short Trade - Limit Entry 6.93Stop Loss = 6.955 / Take Profit = 6.855 > Coupled with a 1% risk and 3% reward. Once the trade reaches a 1:1 point move SL in front of the entry to protect the downside. If it takes you out we can always re enter at another opportunity. As the trade progresses i will comment every change to show you how i make to maximize profits. Remember Risk/Reward is the key, we will take losses along the way but overall profit in the long run. If you enjoy follow and like my ideas and if you have questions message me. Keep Chasing that Paper!!!
Short
by PaperChaser12
1