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Euro / Norwegian Krone

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EURNOK trade ideas

My long term view on EURNOKAlright, many of you are probably not trading norwegian krones but maybe this could be an idea on other trading pairs? I'm currently short on EURNOK, but I think it will turn up in beginning of October: Entry on a long position: 9.24NOK When: 3. October 2018 Arguments: - It is currently in a rising wedge and 4. wave is the next stop. - This is confirmed by 0.618 fib level, Gann line (two of them are crossing in the same point!) and Gann arc. - We see that the volume is rising within the rising wedge - a good sign on a further ascending period. Forecast: - Next stop will be 10.15NOK - When: 25. June 2019 - Since this is a rising wedge it might drop after 25. June.
Long
by Steffro
EURNOK, 4H, AB=CDA really nice 1:1 AB=CD pattern was just completed on EURNOK 4h. The only "warning" is the "fast" fall down to the D-point = Tight SL. RSI is oversold as well but the more restrictive can wait for it to break up over 20 (or 30 for those who use that). The risk is that you miss a large part of the movement. As always - your plan and what you have tested is what determines how you should take a trade. For that reason, that is according to My plan in these conditions, I only place 1 position in this case - ie. half the risk of a "normal" trade with 2 positions.
Long
by Henrik-SMCTrading
2
OPEN EURNOK daily tradeThe buy zone is between the the green and red lines. It's recommended to limit buy close to the green line, in order to guarantee the position. The red line is about 250 pips below the green line, and acts as the stop-loss level. There is no target price yet. This trade will be monitored once every evening. If there is no update, it means the trade is still active. Once the trade is closed successfully, a risk-to-reward ratio will be determined. This strategy only requires reviewing the price action trend once every day.
Long
by ikeel
EUR/NOK 1H Chart: Long-term triangle dominatesThe EUR/NOK exchange rate has been constrained by a descending triangle which was formed in November, 2017. After testing the upper boundary of this long-term pattern early in May, the common European currency began depreciating against its Norwegian counterpart, thus reaching its bottom boundary at 9.47, likewise reinforced by the monthly S2, mid-yesterday. It is likely that some downward pressure still prevails during the remaining part of this week, given that the pair might be pressured lower by the combined resistance of the 55-, 100– and 200-day SMAs near 9.60. However, the general price direction should nevertheless remain upwards in line with the prevailing triangle pattern, with its upper boundary being located at 9.65.
Long
by UnknownUnicorn890690