USDDKK - U.S. Dollar/Danish Krone (3 hours chart, OANDA) - LongUSDDKK - U.S. Dollar / Danish Krone (3 hours chart, OANDA) - Long Position; Short-term research idea.
Risk assessment: Medium {volume & support structure integrity risk}
Risk/Reward ratio ~ 2
Current Market Price (CMP) ~6.62000
Entry limit ~ 6.58000 on May 19, 2025
1. Target limit ~ 6.63000 (+0.76%; +0.05000 points)
2. Target limit ~6.68000 (+1.52%; +0.10000 points)
Stop order limit ~ 6.53000 (-0.76%; -0.05000 points)
Disclaimer: Investments in securities markets are subject to market risks. All information presented in this group is strictly for reference and personal study purposes only and is not a recommendation and/or a solicitation to act upon under any interpretation of the letter.
LEGEND:
{curly brackets} = observations
= important updates
(parentheses) = information
~ tilde/approximation = variable value
-hyphen = fixed value
Usddkktrading
USDDKK: Peak formed. Excellent sell opportunity.USDDKK is forming a Channel Down pattern after getting rejected on the HH trendline of the top of the long term Megaphone. This was enough to turn the 1D timeframe neutral (RSI = 51.567, MACD = 0.023, ADX = 24.458). This High is consistent with the two peak formations prior to that and the common characteristic is that all (including the current) have formed LH trendlines on their 1D RSI.
The 1D MA50 is the first line of support, but we target much lower (TP = 6.8000) as the decline range on those two bearish legs has been -4.90% to 5.60%.
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