EURNOK trade ideas
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!
If all trades went like this. . . . :-)So we had a bearish thesis on this pair.This was based on facts we observed. This 1st one was that price was failing to break and close above 11.000 level,so that became a significant level as we had sellers there willing to defend it. The 2nd factor was that price was also skirting around the weekly Kijun which is a strong resistance. We initially got on Friday's close which was slightly below our kijun. We got stopped out as price went up again to 11.000 to get more orders then down again. We reentered after price had gone below the weekly kijun again and put our stop above that. Paid off well:)
R-5.5