EURNOK trade ideas
EUR NOK D1 Worth putting on watch list for possible short EURNOK on D1 has broken down below and retested 21D EMA (shown on chart). It's also below (having retested) significant area of SR going back to early August. A break below 10.02 area could take us to 9.9 and 9.8. Resistance levels at 10.07. Daily RSI and MACD are pointing down.
EURNOKWaiting for an entry signal.
Aggressive trade - enter at the 50 fibo
Conservative - wait for a candle formation pattern, e.g. engulfing candle.
Extra conservative - wait for price action formation, e.g. double bottom.
EURNOK IS GOING TO FALLEURNOK has broken the trend line and we are waiting for the retest onto this strong zone so that we can short this trade
EURNOK HEAD AND SHOULDERS - BEARISHWaiting for price to break both the Head and Shoulders Pattern and more Importantly the Ascending Channel, this Advanced pattern is invalid if price doesn't continue to break below this Parallel Channel. There's a chance price can Respect its channel and the market will Reverse Bullish, that is why it is so important we let price work its course and we will enter when price is showing us a continuation (Candle Sticks).
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
EURNOK UpdateThis has been an awesome pair this week just closed off to end the week. Still looking at the lows for future movements and another entry in next weeks market.
All head and shoulders trader I hope saw the break and retest with a sell confirmation candle. The pair is slower than others but the moves are good. The gut said take and go so trade is close with the break of the low area before we see a reversal.
Nov12 s3.tradingview.com
BUY CHANCEENTRY TO BUY = IF YOU SEE A REVERSAL PATTERN NEAR THE RED ZONE
TP IS SHOWN IN FIG
SL = BELOW THE RED ZONE
DO U AGREE WITH ME??!
Euro finding support against Norwegian kroneThe EUR/NOK pair is a bit exotic, but it does give an insight as to how the Euro is doing in relative strength against crude oil. After all, the Norwegian krone is highly susceptible to pricing of crude oil, so this is an interesting and informative commodity pair. Looking at this chart, the EUR/NOK pair has tested the 10.05 level which was previous resistance, and now looks to be supportive.
The 50 day EMA is currently just below the trading over the last couple of days and hanging about the 10.05 NOK level. At this point, it looks as if the market is trying to form an inverted hammer, so a break above the highs from the trading session on Friday could send this market back towards the highs at the 10.28 level. Alternately, if the market was to break down below the 10 NOK level, then the market reaches down to the 9.88 level where the 200 day EMA sits. That being said though, the market is very likely to continue to grind higher based upon the overall trend, unless of course the Euro breaks down against currencies around the world in general. One of the greatest barometers will be the EUR/USD pair, which although bearish, isn’t necessarily breaking apart. At the same time, we would need to see serious strength in the crude oil market which has been basically range bound for the last several months although quite a bit of volatility has accompanied that. At this point, this is a market that can be used to trade directly, or to get an idea as to how to trade the Euro in general, and even crude oil as there are so many different inflections in this chart by the various bits and pieces that go in to pricing it.
EURNOK Head and Shoulder After the EURNOK broke the neckline of the head and shoulders It may go to 9.95 area.
EURNOK short 1/3 size positionstop @ 10.35 target 10.02 the reason why I say 1/3 size position is because at these levels the risk to reward is simply not great and that is why we plan to take 3 more postions if the trade moves against us.
2nd 10.1950, 3rd 10.2250 and 4th @ 10.2650 which will give us a better risk to reward scenario.
