Good afternoon all,
One of my possible entries today on GBP/DKK.
1. Price has formed a rejection on the resistance line with a Divergence.
2. The 4H candle shows a bearish engulfing pattern
3. The market is in a range so could be traded in this tight consolidation
Please always carry out your own analysis and be sure of using proper risk management. This is...
GBPDKK has been on a bullish run for 2 weeks. At the start of the 17th of Feb week, its bearish intentions have been shown, bearish patterns forming indicating an imminent drop.
On the chart we can see an Upside down incomplete M patter, a bearish triangle with a bearish breakout, a double top formed inside the triangle a continuation of the fall. Loo for entries...
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