EURNOK ShortRed line = stop
Blue line = entry
Green line = take profit target
Order expires by close of US session 9/30/2016
EURNOK trade ideas
EURNOK ShortRed line = stop
Blue line = entry
Green line = take profit target
Order expires at 1230 EDT
It's a NOK-On! EURNOK is trading at some interesting levels, if the breaks key levels; I will be a seller.
Tilt to the downside after better regional survey dataWeekly - No change:
- neutral, with bearih bias ahead
- for H&S validations mkt should clear and close below 9,20
Daily:
- consolidation below Kijun Sen. Lower high. Kijun holds nicely.
- haDelta crosses below its SMA3, haOscillator may turn down
- EWO is bearish
I still prefer overweight NOK in portfolios, as this ccy has the best relative value in G10. I just increased shorts.
They have serious pick up in inflation, macro datas recently beat, just like the Regional Survey today! Country virtually has no debt, rating is "AAA" (and it is a real AAA :-) , and instead of consuming their future, they invest into their future!
Carry of short EURNOK position is small positive too.
(1h) Bearish Shark @ 224% extension confluence with 618% retraceFX_IDC:EURNOK
At Divergence...
Safe Trades;
EURNOK: HnS TOP. TARGETING KEY ZONEDAILY:
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Let's see if catches momentum. Hold shorts, trail stops!If you read my Twitter posts, you saw I sold more EURNOK yesterday.
It looks like all bearish supports hold nicely, and finally it may get some momentum to hit first target around 9,00 +/- within next couple of weeks.
Weekly:
- Ichimoku is neutral (everything is locaed in spot Kumo cloud), with bearish bias ahead (bearish Kumo twist 26 weeks ahead is firming slowly)
- Increasing chance for validation of Head & Shoulders pattern, which would be very bearish, with possible target to 8,45 later.
- MACD is bearish, both lines are below zero
- EWO is bearish, maybe it will show some momentum gain soon.
- Heikin-Ashi may gove a weekly sell signal: haDelta/SMA3 bearish cross below zero.
Daily:
- Ichimoku has bearish setup with clear supports at 9,32-9,36 range. Averages all point down. Actually the 9,32+ support held very nicely last week.
- Heikin-Ashi sell signal was obvious from bearish support. Long doji candle with haDelt quantification gave the early warning for bearish continuation two days ago. Last two candles and haOscillator confirm. 9,15 local low is in focus now
Strategy: hold 1,5-2 unit shorts. Trail strategic stops to 9,39-9,41 from previous 9,45-9,47 area. We may lighten up position a bit around 9,00 if we get there.
#EURNOK chart signalling a sellChart say it all. Upward price momentum has ebbed and could expect sellers to dominate once price breaks 9.20.
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EURNOK SHORT TRADE IDEA ON H2Looking for short trades on this pair after it made a corrective pattern.
we are still experimenting with our forex forecast eurnokwe are experimenting with forex - our models seem not to be so sensitive when it comes to forex and commodities.
we just got some clear signal for NOK - even though NOK is OIL dependent - worth a try??
Update - Next wave downWeekly:
- Ichimoku gains more bearish momentum. While spot price is still in the Kumo cloud, we have a bearish Senkou Span cross (Kumo twist) 26 weeks ahead. Price turned down sharply from Kijun Sen and made a lower low! All averages point down now (Tenkan, Kijun and their average Senkou A).
- Heikin-Ashi pattern is bearish with strong momentum.
- Major Head & Shoulders pattern may be validated this or next week with neckline break. In this case long term measured target comes around 8,40-8,45.
- EWO ticks into negative zone
- MACD bearish cross below zero!
Daily:
- Ichimoku setup is bearish, with support at 9,3250.
- Heikin-Ashi is swing bullish, but the momentum of reactive pull back is dropping -> see haDelta/SMA3 cross. haOscillator will likely stay below zero too.
- EWO is bearish.
I simply like increasing my short EURNOK position on these spikes. I think this trade can be very interesting for the next 5-6 months.
Please read my previous post to see how this setup and trade has been developing.
Massive resistance area approaching The EURNOK is approaching a huge resistance area. Price hasn't broken this area since this time last year. I will definitely be watching this for either a long or short. Waiting for price action to confirm!
EURNOK Next Big MoveLong Term this most likely will make its way up to Monthly Resistance @ 9.6159
Short term- depending on the Sunday Gap I will be looking for a Buy Entry as low as possible before uptrend to Daily Resistance TP Goal @ .94835. Expecting a hard pull back before moving upwards to Monthly Resistance. This Should be a great Buy Trade . 250-300+Pips on the Daily Chart. I don't use Stop losses until in Profit so use risk Management .
5,000-6,000 pips of profit setting up here!EURNOK will do nothing for MONTHS and them WHAMMOOOO it goes crazy! Well this time crazy is awesome because it's helping confirm the big daily head and shoulders pattern we have.
We are looking for a 5000-6000 pip move here, large stops are required (above 9.50 right now) but much larger profits are expected. The break and retest will be good to help us get into this trade.
More details on this will unfold at ondemand.daytradersfx.com
