USDNOK
Possible range-trading in USDNOKAs the market has for some time now trading sideways/range mode, USDNOK should offer a nice exit from 8,60 level down to possible support around 8,40.
After the announcement from Brexit, USDNOK never managed to close and break resistance above 8,60 which now act as great barrier for the pair. In that matter, the risk/reward should be great for a short trade.
Trade setup. Short from 8,57-8,60. Stop if the pair closes above 8,61 on daily timeframe. Target 1 is 8,45 and target 2 is 8,40.
Play safe :)
USDNOK Swing breakoutUSDNOK looks to be breakout out short on the swing timeframes for a play back down to the bottom of the consolidation. I entered at 8.3722 following a breakout of price and momentum to the 2 hour Ichimoku cloud. My risk will be trailed above the Ichimoku Kijun Sen until I reach my target at the bottom of the Daily range where I will tighten up my stop.
USDNOK symmetric triangle: trade a breakTrading opportunities from a symmetric triangle, providing us with the opportunity to trade a break below or above the resistance/support.
My opinion : Further downward pressure on oil will cause the USD to strengthen against NOK (Norwegian Krone) due to Norway's economic dependancy on oil prices. This will cause a break above the triangle and hopefully a profit target to be reached.
Profit targets are green lines.
USDNOK Long Poss. H&S pattern resting on previous H&S res turn sup. Measured move to the upside. Although many factors including brexit could throw all technical out the window. Trade with caution this week.
Shorting USDNOK, againGood morning traders,
I´m been heavily bearish on this pair for months and downtrend is resuming after correction till 8.4 . I think a retest to 8.00 area is stil posible while price is below 8.25 on a daily close .
So shorting @ MKT
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6 Trading Rules :
1. Never add to a losing position .
2. Don´t be the first to buy low and sell high ., and don´t be the last one to exit
3. Think like a fundamentalist, trade like a technician .
4. Keep your analysis simple
5. Start small and increase exposure when trend is confirming your analysis
6. The hard trade is the right trade
Josep Pocalles
www.realisto.net
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
(D) Daily Breakout // Harmonic // Cluster // IF=THEN ®FX:USDNOK
BAT:
Point B:
38.2% to 50% XA
Point C:
38.2% to 88.6% AB
Point D:
88.6% XA
Targets:
TP1 38.2% AD
TP2 61.8% AD
Safe Trades;
elliott wave: Third wave in action!I think the third wave was confirmed on Friday when it tested broken 200MA and closed below. Thursday Norway cuts interest rate and warns they could turn negative -expecting high selling pressure because of this. The same market reaction like after BOJ cut or ECB..
