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EURNOK

EURNOK 4H 375pip SELL - For week starting 29.3.2021What's up please comment what I can do better. I have spotted a smaller head and shoulders pattern (0vert last 8 days) forming on the a pull back of the EURNOK downtrend which began this time last year. The 1D trend line (orange) was recently broken up and then back down, the most recent wick up failed on the 25th and lost momentum suggesting a considerable number of swing buyers have left the market, allowing the selling pressure to increase. The 100ma is in our favour as well as the TDI indicator which is turning bearish overall. We're looking for solid confirmation of the neckline and the 100ma being broken (especially whichever comes last) before we enter this as price could simply be ranging irregularly and catch us out. Be careful entering this on Monday as there's more fakeouts at market open. If you get in this trade around the entry shown on my screen, I would set: TP1: 50pip TP2: 90pip at fib level 1.000 meeting the yearly low and TP3 at 375pip @ fib level 1.618. We're likely going to see a rejection of fib level 1.000 so make sure you break even at tp1. SL at 40-60pip. If we hit TP2 definitely keep a runner as we're on a downtrend and want to see monthly and yearly lows broken. Be careful my slimes Vince / Vmoney
Long
by Vmoney10
EURNOK for recent lows? 🦐EURNOK is now testing a daily support over an ascending trendline. According to plancton's strategy, if the market will break below, we can set a nice short order. ––––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h structure. • ⚫️ Black structure -> >4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Short
by InkyGrip
12
EURNOK - Reversal Soon!Hello everyone, if you like the idea, do not forget to support with a like and follow. on DAILY: EURNOK is approaching a strong support in green and round number 10.00 so we will be looking for buy setups on lower timeframes. on H4: EURNOK is forming a trendline in red (but it is not valid yet) so we will be waiting for a third swing to form around it to consider it our trigger swing. Trigger: Waiting for a momentum candle close above the gray area to buy. (after the swing high is formed as shown in purple) Until the buy is activated, this one would be overall bearish and can still dive inside the green support before going up. Good luck!
Long
by TheSignalyst
27
EURNOK Possible 3R Swing Trade EURNOK broke above the H4 horizontal resistance area, and produced a nice impulse. Now, after retracing back, the price is breaking above a bearish trendline. The pair is showing new HH and HL on H4. Once the price breaks above the last area of resistance, which is marked up on the chart, it's possible to long on a retest. Risk Management is the #1 rule, you can't control the market, but you can control your risk management. Stay calm and risk 1%.
Long
by Yelli_trades
The EUR/NOG exchange rate is having some difficultiesThe euro to Norwegian krone exchange rate is having some difficulties climbing up in the trading sessions. But luckily for bears, the odds are looking better for the Norwegian krone. Looking at it, the strength of the Norwegian krone is mainly driven by crude prices and it’s also affected by the single currency and the performance of other currencies in the region. As of writing, oil prices continue to hold on despite the heavy pour of bearish news. It was recently reported that the Organization of the Petroleum Exporting Countries finally relaxed its historic production cut and the markets are bracing for more. This comes as major economies continue to open their economy and ease their travel restrictions despite the still increasing number of COVID-19 cases around the world. Earlier this year, the group agreed to dramatically reduce their production to prevent oil prices from plummeting, this also helped the cause of the Norwegian krone.
Short
by Financebroker
EURNOK - Opportunities! Not my usual choice, but if there's a good clean set-up I will go ahead and analyse it further. EUR/NOK - Will the bullish momentum continue? Technical Aspect: - Pattern wise - Looks like inverse head and shoulders. - As long as its above that trend-line up the bulls are still in control - This trade idea, could reach towards 161.8 areas As the market moves in waves, nothing goes up in a straight line - Pull back is due EUR looking very over extended. There's various options you could take: - Do the pull back towards this trade - Wait for the pull back and then advance towards next resistance areas. Please keep in mind below that key trend-line up the bears are in control - only until then! Remember: Just an idea, not a recommendation. Have a great weekend ahead.
by Trade_Journal