Short

USDNOK - Watching this Bearish Crab in the 4h timeframe

By Pier1972

Updated

Interesting bearish crab in the 4h timeframe for USDNOK
Watching it closely.
8.70 area provide good resistance, if bear start to sell i will enter.
T1 is @ 8.56
T2 is @ 8.43
will keep time for this, on my main WL
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Trade active

bears start enter, stop just over D point

Note

Over 40 pips away from the entry, taking a part out, and SL @ BE, looking for continuation.

Note

Stopped out and re-entered @ 8.70
My stop loss is not far @ 8.70870
Pattern still intact and acting well

Note

8.65 is the real support to beat, if you trace a fib on this swing you will see that is also the the 23.5 level , so under we can have a flush.
Trail it, if happens!

Note

Patient pay.
Taking again some profit @8.628 and trailing my stop on profit, that is what you should do too, 70 pips from my entry.

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Another piece out at 8.61 over 93 pips away from my entry, no mater what , i'm trailing my stop in profit 10 pips.
Last 2 parts are for T1 @ 8.56 but will revaluate there if is case to leave one part for T2 , can be a long run, maybe too long.

Note

Stopped out in profit, well managed trade.
Under 8.70420 i'm inclined to short it again,

Pier1972

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