EURDKK trade ideas
ECB willingness to shift into easing mode again will be testedSoft macro data from France continues...
Markets are likely to want to test ECB willingness to shift into easing mode again so the downside risks for 1.09 remain in play for EURUSD. This will carry the rest of the EUR board.
A quick move in play here to kill the week off as we start the initial stages of a test in the lows at 0.745.
Best of luck all
EURDKK Long IdeaHeld rising TL on daily for a 3rd time; held 38.2 fib; broke from consolidation. Also, held RSI support level since Oct. 2016. Going up
EURDKK: Rising Wedge targeting 7.46300.The pair is trading on a 1D Rising Wedge evident on the mix of neutral (RSI = 48.902, CCI = -27.6714, Highs/Lows = 0.0000) and bullish (STOCH = 57.149, Willams = -42.264, Ultimate Oscillator = 53.080) indicators. This indicates a bullish price action but on a narrow space. Long, TP = 7.46300.
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three driveBearish divergences on daily and 4h RSI. Overbought on stochastic
three drive pattern.
Target 7.4560
8.2% & POSSIBLE 61.8% Retracement LONG GWAVE.8.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
Channel Up on 1D. Long.EURDKK is trading within a 1D Channel Up (RSI = 63.378) and the neutral Highs/Lows = 0, MACD = 0.002, B/BP = 0.0036, indicate that pricing a Higher Low is near. The larger setting is also a 1W Channel Up (RSI = 62.486) so if the pair breaks 7.45720, the downside is still limited to a 7.4540 Higher Low. We are long with TP = 7.462 and 7.4640.
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.E7 EUCLIDEAN STRUCTURE !!! PERFECT TRADES SO FAR.
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 LONG GWAVE.E7 EUCLIDEAN STRUCTURE !!! PERFECT TRADES SO FAR.
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
EUR/DKK About to declineThe common European currency has met with the resistance of a medium term pattern against the Danish Krona. Moreover, the resistance line is strengthened by the 100 and 200-period simple moving averages and the monthly S1.
Meanwhile, take into account that the currency exchange rate is also facing the support of the weekly PP and the 55-period SMA.
These two facts combined indicate that in the near future the pair is set to break out from this stalemate.
However, due to the existence of a medium term channel down pattern, the breaking out to the downside is more favorable.
EURDKK Example of Trading Gaps I don't trade this pair, but it provides a good opportunity to show how one would trade a gap since it made an extreme extension. Basically marking the highest or lowest point and switching from candlesticks to line you would see a big gap. The market normally retraces the entire length of the gap before continuing in the direction it was heading. So you would ideally be making the money in this one going up and going back down again.
Just a trick I use sometimes and maybe useful to others.
Hitting Resistance That Is Over A Decade OldEURDKK is at a magical spot currently. The resistance, its near now, have been tested many times. Currently you see the 5 times it's been tested since '11, but if you look further back, on the weekly, you will see it was also was tested in 2004, and again further back in the 90's. I'm not rushing to get into this pair - but it's definitely on my radar the next coming weeks. It could be big trade if it reverses upwards. Which it eventually will. It's rare seeing a pair close to such a strong resistance.
