USDDKK has been trading within a long term 1M Channel Up (RSI = 58.922, MACD = 1310.970, ADX = 34.063) since May 2018. Since late June it has developed a smaller Channel Up on 1W which is on its Higher Low zone (RSI = 51.590, MACD = 253.410, Highs/Lows = 0.0000) hence an optimal short term buy entry. The target is 6.90000. If however the price breaks below the 1D...
Looking for SFP to trigger this one
FX_IDC:USDDKK Forex is the most technical market of all in which discipline is even more important, and patience is extremely necessary to be able to wait for a trend to start. In our strategies in this market the % probability of a trade being realized is about 40 times out of 100, and the average Risk Reward is 3 times out of the loss.
FOREXCOM:USDDKK Formed a bearish shark pattern. RSI is very overbought. It could reach 38.2% as first target or 61.8% as second target
The price made a fake break of Key Level 6.71645. We can open Sell in Zone at the time. Potential profit will be in 3 times bigger than risk.
We can open Sell now, because the price is bounced from Mirror Level 6.64477. Potential profit will be in 3...5 times bigger than risk.
After break and close below blue zone, looking for short entry
demand zone working well turning point three supply zones ahead
Pattern: 1D Bullish Channel. Signal: Bearish after the Double Top rejection on 1D. Target: 6.55000 (above the Support Zone).
USD - Quant Scores shifted against USD by 10 points - Building permits less than forecast showing a potential slowdown in approved housing - Supported by a negative result in housing starts which can affect many other factors of growth such as jobs and money supply - Consumer Confidence heavily lower than forecast suggesting the US consumers are less confident in...
The pair is on a strong long term Channel Up on 1W (RSI = 56.469, MACD = 0.047) trading on its Higher Low zone (Highs/Lows = 0.0000). Naturally, 1D is now neutral (RSI = 51.144, Highs/Lows = 0.0000), trading on its own Channel Up Higher Low, pricing a break upwards. The latter gives a buy signal with TP = 6.7000 (Higher High). The 1W Channel Up gives a buy signal...
There is a potential sell here using elliott wave analysis.....Happy trading all proudly Abbeycity
Stop loss, entry price and targets are mentioned on graph.
Aprox. levels: BS: 6.61; SL: 6.47; TP: 6.78 (1) 7 (2) (2.57%) (-2.12%) = 0.45
Stop loss, entry price and targets are mentioned.