USDDKK trade ideas
Sell USD/DKKThis is just a journal for me. I strongly warn you to not take this in your real account. Good luck!
USD/DKK 1H Chart: Previous forecast at workThe previous forecast worked, and the USD/DKK currency pair has reached the upper boundary of a long-term ascending channel located circa 6.6000.
As apparent on the chart, the exchange rate reversed south from the upper channel line at the beginning of November. From a theoretical point of view, it is expected that the pair goes downwards. A potential target is the Fibonacci 23.60% retracement at 6.4443.
However, technical indicators for the long run suggest that bullish momentum should continue to prevail. In this case, it is likely that the pair re-tests the upper channel line in the nearest future. If given channel does not hold, a breakout north occurs within the following sessions.
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
USD/DKK 1H Chart: Bulls likely to prevailThe US Dollar has been appreciating against the Danish Krone after the currency pair reversed from the lower boundary of a long-term ascending channel at 6.3200.
Currently, the exchange rate is trading in a short-term ascending channel as well. It is expected that the pair will breach the junior trend and will aim for the upper boundary of the senior channel located circa 6.6000. An important level to look out for is the 2018 high at 6.5691.
It is the unlikely case that some bearish pressure still prevails in the market, the US Dollar should not exceed the 100– and 200-period SMAs (4H), currently located near 6.4140.
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
SHORT 38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
USD/DKK 1H Chart: Bulls likely to prevailThe US Dollar is appreciating against the Danish Krone in a short term ascending channel. This gradual increase in price began when the rate reversed from the 6.3600 mark.
Currently, the rate is being supported by the 55– and 100-hour SMAs on the 1H time-frame. It is expected that the rate eventually gathers the necessary momentum to breach the junior channel.
However, it should be taken into account that the pair is pressured by the 200-hour SMA at 6.4126 and this advance might not be immediate.
An important level to look out for is the monthly R1 at 6.4312.
Reaction from 50 weekly Fib retracementPrice was pushed off weekly 50 Fibonacci level forming a shooting star on daily. Half of the move already took place and this is how far we can short on hourly after Fib extension (there is cloud support on 4 hours | weekly | monthly and daily tenkan-sen at that extension).
New bullish leg initiated. Long.USDDKK has preserved the long term Channel Up on 1W (RSI = 69.995, MACD = 0.069, Highs/Lows = 0.1019, B/BP = 0.3423) as it broke the previous consolidation on 1D to the upside. As you see on the chart there are recurring patterns on 1D (Channel Up after Rectangle) so the pair will now most likely print a Channel Up (RSI = 67.432, ADX = 34.541) on 1D towards the next Monthly Resistace = 6.69018. Our long's TP is 6.67021.
USD/DKK 1H Chart: Declining in medium patternAfter breaking the lower trend line of the previously active dominant pattern, the USD/DKK currency exchange rate has been declining in a medium scale descending channel.
Recently the pair bounced off the resistance of the PP at 6.38 and began a decline, which has resulted in the booking of a new low level for the USD/DKK pair.
The rate is most likely going to continue in this way until it reaches the lower trend line of another long term descending pattern just below the 6.34 mark.
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
POSSIBLE E7 GWAVE EUCLIDEAN STRUCTURE FORMING.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
