NOK
USDNOK - Short SetupUSDNOK looks overextended with finally signal of deceleration with a reversed red hammer high test at the 0.5 Fib retracement at multiple key levels:
1) resistance at around 8.36
2) 50-60 EMA rejection
3) 200-250 EMA rejection
4) Downsloping trendline from July 27, 2016
5) 0.50 Fib Retracement
We have also Stock RSI in overbought status on daily and a clear MACD Divergence on 1 hr time frame
EUR/NOK breaks major support 9.2570, good to go short on ralliesNorway's core inflation surged to record highs in July, dampening Norges Bank’s rate cut speculation.
The Krone has surged after inflation data release. EUR/NOK hit multi-week lows at 9.2094.
The pair has broken major trendline support at 9.2570 on the daily charts, we see scope for further downside.
50-DMA at 9.3507 is major resistance on the upside, while 9.1970 is next major support on the flipside.
Good to go short on rallies around 9.2500, SL: 9.3510, TP: 9.1970/ 9.1550/ 9.1375
GBPNOK SHORTSIMPLE ABCD PATTERN BOUNCING OF 38.2 LEVEL RIGHT NOW PRICE IS RETESTING THE TRENDLINE AND HOPEFULLY SHOULD ROLL OVER TO THE DOWNSIDE
GBPNOK SHORTSIMPLE ABCD PATTERN BOUNCED OF 38.2 LEVEL LOOKING FOR D EXTENSION @ 11.168 ALSO PRICE IS RETESTING TRENDLINE AND HOPEFULLY SHOULD BOUNCE BACK DOWN
USDNOK - still some room for shortsSome fundamentals:
+ Norwegian inflation is at 3.3% (little or no room for monetary easing)
+Price of Brent recovering
+ Massive current account surplus
-Huge drop in GDP growth to 0,1%
- Deteriorating consumer sentiment
USDNOK potential bearish cypher pattern Will be looking to enter a short position at 8.84658 if the cypher pattern holds up.
Stop loss is based on previous structure as indicated by the red line.
Take profit is based on Fibonacci levels.
Unfortunately the risk/reward isn't the best I've ever seen, but I will still be looking to take this trade.
Fundamentals
Aren't any particularly exciting fundamentals to support this cypher pattern, although based on the current consolidation of crude oil (Norway's economy depends strongly on oil exports) as well as uncertainty in the US economy, an up and down move is definitely not unreasonable.
WTI Crude Continues Down, Therefore NOK Continues UP! Bonjour,
Do you guys remember the trade in USD/NOK? If not, here is the link to remind you:
We've since taken a similar trade ... mainly based on the fact that WTI Crude is seeing more downwards pressure after a small rally.
Congrats to all of our members, and do you know if you should stay for profit target #2 or not? By joining our ever expanding trading family you'll know...
À bientôt,
Maxmillian DuPont
(www.myfxlifestyle.com)
Clear breakout in USD/NOKBonjour,
today our "VIP" members took an aggressive trade in the USD/NOK pair. After noticing the downwards trend bottoming out, we opened two long positions on a breakout @ 8.7525. Scaled out of the first position at 8.7925 and closed out the second at 8.8270.
Both positions were closed out early, it runs out. However, we stuck to your predetermined risk profile and rode this one out for a great trade that pocketed us 1145 pips in total. Congrats to all "VIP" members in the room today.
À bientôt,
Maxmillian DuPont
(www.myfxlifestyle.com)
What heads of Nokia will do in the future?I think, Nokia had bad time. But something tells me Nokia does not want to fall at all. They try to touch the market wt new step of them strategy. I remember how HPQ turned up and reached more than 100% even more people /me included/ though how HPQ ends. So if Nokia shows us a comeback, it should be interesting to buy. Also can helps successful Greek solution which is behind the door by the way. Despite the fact that
technically, it looks down after breakdown the support.
EUR/NOK Bat Pattern Completion Bat Pattern on the EUR/NOK with D at 8.71323
Entry @ 8.71400
Targets @ 8.60078, just above Support/Resistance (look left @ ~8.580) and is a 38.2.
Stops @ 8.78700, just above the X point
Fully welcome any ideas to prove me wrong/other view points
Nokia Approaches Long Term Trend Line Following Margin ErosionNokia is down nearly 10% in pre-market following it's disappointing margin announcement for it's core business, Nokia Networks. The stock has established a long term double bottom, is in a long term uptrend, and the 23.6% fib retracement level from its 2000 high to its 2012 low is at $16. Nokia need to hold the long term monthly uptrend for a continuation towards the 23.6% fib retracement level.
A good long term buy & hold opportunityNokia is looking interesting once again a year after Microsoft's acquisition, a leaner and reinvented business structure. It could present a good long term buying opportunity from here.
Significant interest on the N1 tablet in China. ( pocketnow.com )
Record 2014 deals in india involve the modernization of 2G and 3G networks, 4G deployment, WiFi solutions, security solutions and device management.
Relatively low p/e ratio relative to other technology stocks in the US. 8.3 p/e
Sustained earnings over the past few quarters
Nokia HERE maps powers four out of five factory-fit navigation systems in North America and Europe
Trove of mobile-related patents that even Apple and Samsung have to pay for
I'll be looking to pick it up over the next few days after having sold my Nokia shares bought at $2.5~3 range at $7.7 after Microsoft acquisition a year ago. In the sea of overpriced technology stocks, it seems that European related tech sector are pretty underpriced right now.
Long oil and gold: Currency Basket tradeI can come up with a variety of instruments to trade based on the recent macroeconomic events, but right now I'd like to focus on these, since they give me a relatively close timeframe for the reversal date.
Mark your calendars, between February the 5th and 9th, because I think these pairs will start moving strongly in the directions of these arrows.
I'll post technical setups as they come, for now, some food for thought.
Have a good weekend everyone!
Norway index OBX IS GOING TO RUSH DOWNHello Traders as someone can know i am from Norway and sometimes i am not only looking at Forex but some trades wich i can add to my personal portfolio. Norway index is not in good shape at this time. What i think about it you can read up on chart. Have a nice trading ;)
NOK 4x move from origianl entryOur original analysis stated in part:
"Taken by itself, the technical pattern on the chart is a classic bottom with a follow through support at the first real pullback. Many unexpected huge moves have resulted from this pattern over the years. A factor in NOK's favor on the long side is the price action at the LT Swing Long entry range. It has been very aggressively bought immediately upon reaching the entry range and the Intraday Long has been bought at both tests of the entry range.
Keep in mind that although this published chart is on a 60 min time-frame, the levels shown are Weekly Chart levels and must be traded as such. Being such a low-priced stock is a factor in NOk favor for scalpers and Day traders, and we can be certain that there will be buyers at most long setups from this time forward until the LT Swing Long is definitively broken or reaches its' targets, which are not shown at this time."
Buyers have indeed entered at every pullback, the LT Swing Long has held, and there has been a huge move of 4x the original entry price.
With such a low-priced stock, it is not uncommon to see a larger move before any meaningful pullback occurs. There is a short being sold but not shown on chart.
