I can see some bear vol coming on usd/dkk so watch it out as i am short this one trade with my strategy or implement yours based on this analysis if u think the same do comment and like.Trade with care @2smart2trade
FX_IDC:USDDKK Safe Trades;
FX_IDC:USDDKK Safe Trades;
After the breakout of the monthly downward trendline with a strong impulse this pair is in the middle of a correction. In this moment it seems channeling to the upside of this structure. In both scenarios on chart i'm expecting a breakout to the upside.
On 4H, USDDKK oscillates between two main parallel trends since 3th December 2015. PA is currently under the cloud but just bounced on a layer of supporting lines. We may now except an attempt to reach the Kijun with a weakening Danish Krone. If Kijun is broken, PA may attempt to traverse the cloud which would be the first strong sign of a bullish trend. In case...
Sell USDDKK until 6.9200, the PP of the day. The RSI is oversold and so is The MACD. Thank me later. Get the profit.
CORRECTION: Pin Bar at Resistance Target @ 5.4929 Stop @ 5.5272 R/R Ratio = 1