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Euro / Norwegian Krone

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EURNOK trade ideas

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
EURNOK look for a retracement? 🦐EURNOK has been moving inside a discending channel between the orange trendlines. Lately the market has move inside a minor channel and currently is consolidating below a daily structure. If the market will manage to break and close above the structure we can set a nice long order according with our strategy . ––––– Follow the Shrimp 🦐 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 Plancton0618 strategy will trigger.
Long
by InkyGrip
EURNOK Short - FlashcardEURNOK Short Direction: - Pair is in Bearish Order Flow and has Bearish Momentum on the H4 and Daily. - Pattern formed in the Bearish H4 OB (Order Block). Entry: - W (Double Top) Pattern Formation. - Divergence occurred. - RSI crossed volatility bands (Shark-fin), indicating a drop in the pair. - RSI near the 68 (exhaustion zone), indicating pair was overbought. - 13 EMA cross on second leg of pattern confirmed drop. This is my entry. - MBL (Market Base Line) curved downwards after entry, confirming drop. - 800 EMA showed resistance to the pattern. Exit: - 40 pip SL @ above high (top of H4 OB). - 71 pip TP @ day close. Did not go to original TP, however I do not like holding trades for more than one day, so I closed the trade before the day ended.
Short
by FotiosDimitriou