USDNOK watch for a buy
Updated
Hi traders, I hope you're all having a good trading week.
USDNOK looks like an outstanding buy setup. The pair had a strong selloff landing at the Fibonacci extension expiry zone. After this there was some light buying, and now price action is showing multiple reversal candles. I am expecting that if the pair can break the consolidation it could have a violent breakout to the highs, in the form of a strong corrective, or an impulsive leg!
Best regards,
Tom_Killick
USDNOK looks like an outstanding buy setup. The pair had a strong selloff landing at the Fibonacci extension expiry zone. After this there was some light buying, and now price action is showing multiple reversal candles. I am expecting that if the pair can break the consolidation it could have a violent breakout to the highs, in the form of a strong corrective, or an impulsive leg!
Best regards,
Tom_Killick
Note
Still trading nicely in the range. I am expecting the momentum will soon come into the market and bring price up as predicted.Note
Strong downside ended up the weekend trading session low.This is absolutely fine- we can just trade it from the swing low if it bounces here and there is a reversal candle.
Have a great weekend
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