EURNOK trade ideas
EURNOK Short IdeaLast week finally closed out with a breakout of Price is Major Uptrend Channel. Will be waiting for an exhaustion after price plummets bearish, Fibonacci retracement and Extension will be key in this trading idea with the 38% lining up with our retest of breakout trendline and showing a major continuation in bearish trend.
BUY CHANCEENTRY TO BUY = IF THE BLUE ZONE IS BROKEN UP
TP1&TP2 IS SHOWN IN FIG
SL = BELOW THE BLUE ZONE
EURNOK Buy SignalPattern: 1W Rising Wedge.
Signal: Bullish as the price made a Higher Low and bounced on the 1D MA50.
Target: 10.300 and 10.400 in extension (greater risk though as the 1D RSI is on a bearish divergence).
EURNOK - Euro / Norwegian Krone - H4 - Fib RetracementHello Community,
here is my long idea...
1. UP TREND
2. FIRST (Fib Retracement 50% - 62%)
3. SECOND (Fib Retracement 50% - 62%)
4. MY ORDER
best regards
Euro trying to break resistance against Norwegian kroneThe Euro has rocketed higher during the trading session against the Norwegian krone, reaching towards the 10.20 NOK level. This is an area where we have seen selling previously, so it would not be a huge surprise to see resistance in this pair at this level again. However, if we can clear the 10.20 NOK level, the market is very likely to go towards the 10.30 NOK level, which was the recent highs.
The 50 day EMA is starting to show signs of being dynamic support, and as a result it’s important to pay attention to it. With this, I believe that there is a bit of a “floor” at the psychologically important 10 NOK level, an area that had been very resistive previously, and is now offering support based upon “market memory” and of course the psychological importance of that figure. At this point in time, the market is going to be moving with oil as well as risk. The “riskier” the global situation is, the more likely this pair is to go higher. If oil rises, then that could put downward pressure on this market, depending on how strong and whether it can break above the $60 a barrel level. At this point, it looks very likely to continue pushing higher, but keep in mind that the OPEC meeting this week could throw a bit of a monkey wrench into the situation when it comes to the petroleum influence. With that, I believe that this market remains bullish, but a short-term pullback may be necessary in order to build up the necessary momentum to finally break higher and reach towards the recent highs again. A breakdown below the 10 NOK level would be extraordinarily negative, and as a result sellers would more than likely come in and push this pair down to the 9.85 NOK level, an area that was supportive in the past.
EUR/NOK LONG POSTION 4H TIMFRAMEAnother setup that I’m sharing, this time on EUR/NOK.
You can see that this pair has just broke the last resistance levels.
I took the Fibonacci from the low to the high and now wait for the pall down to get me on the trade.
In my opinion really string SETUP that we all should look and wait for next week.
Hope you find it very useful please make your own analysis and write your comment below.
Thanks :)
EURNOK Weekly Analisys Price is forming a very nice high timeframe set up for a possible swing where price is sittin on a strong weekly ascendign TL and the last two days prioce has rejected the Mp of 2x 38% that confirms a possible sell but befoire going short i must wait and see if price can close below that TL and current daily structure or in case price close above 10.1350 we might look for a swing buy on this pair
SELL CHANCEENTRY TO SELL = IF THE BLUE ZONE IS BROKEN DOWN
TP IS SHOWN IN FIG
SL = ABOVE THE BLUE ZONE
EUR/NOK Price Action Study For study and educational purposes of price action. Price reached an all time high in late October, and pulled back/sold to the point noted within the ascending channel. Price action study for possible continuation back towards previous recent high and possibly higher. Studying Price action at noted zones for movement towards higher highs or either exhaustion of bullish momentum and subsequent drop, in accordance with ascending wedge structure. I am more inclined to think we will see a continuation up towards the most recent high before a drop further. However, study of price action will tell.
EURNOK - intraday updateYesterday I posted an idea to short this pair.
Here is the status of the structure.
Expecting a running flat before the move will happen.
Good luck!
EURNOK: Buy opportunity on the Rising Wedge.The pair is trading within a 1W Rising Wedge (RSI = 59.298, MACD = 0.080, Highs/Lows = 0.0000). Yesterday not only it made contact with the Higher Low trend line, but also touched the 1D MA50 (blue line). This indicates that the price has more probabilities to rebound towards a new Higher High. Our Target Zone is 10.400 - 10.500.
** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. **
Comments and likes are greatly appreciated.
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
