The Danish Krona.
Good evening Dynamic Traders,
Apologies for once again not being able to publish the image .
Tonight I wanted to show you the Danish Krona but will have to tell you figures.
The image I captured was at 4.9965 but could not get it to upload.
It is currently breaking down into a very strong R/S area from previous times which is at around 5.0225 to 4.9800 which as can be seen contains the very strong '0000' figure.
All trends are downand price is below the V.I. and recent false bars on GetStochastics are also at the bottom of the indicator, but we do not have one on this move so far ( therefore use caution ),
MACD is not telling us much here but do be aware of the fibonacci reversal figure just below clustering with the extension figure and in proximity to the afore mentioned R/S area.
As the trend is your friend the obvious way to trade is short but perhaps a good option would be to wait until the obstacles are overcome if you are not of an aggressive stance.
However should a reversal/retracement occur then remember to use your filters if you are wanting to go against the trend and the squeeze is broke to the upside.
Always ensure to do your own analysis.