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...
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.