Short

Possible short position on USDNOK

Updated

Price has reached the weekly resistance with showing a strong divergence on weekly as well as 4 hour chart which indicates that there is a potential bearish movement on that. Besides, there is a head and shoulder pattern on the top of the structure. Right now, I am waiting for price to break the both neckline and the hourly structure and retesting of it (by correcting to the break out area) in order to confirm the downside movement.
Will update the idea if it reaches this point.

Note

Price has been moved upside to the resistance level with showing more strong divergence. Waiting for reversal from the resistance level again which leads to the double top and still we will wait for the break out.
Will update the idea again accordingly.

Note

As expected, price reversed from resistance zoom and made a double top.
Still looking for break out of the structure.
Will update the idea soon.

Note

Price has been touched the resistance for the third time with more divergence.
Expect reversal again after triple top pattern.
Will update the idea soon.

Note

A new idea has been just posted as trade details according to this analysis

Short Position on USDNOK according to the previous analysis

soheil.salarimanesh

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