GBPNOK trade ideas
EDUCATIONAL : How Not To TradeI am reviewing this trade-setup. This is not in my trade plan. This is not a parallel channel. I am reviewing this trade-setup. I took curve fitting to a different level on this one. Clearly, this is not a technical pattern (Channel).
This what happens being in front of a chart screen too long late at night and drinking Christmas Beverages.
Brexit+Oil TradeIn all likelihood given the current FA Brexit is doomed to fail in parliament. Meanwhile Oil has been given a resurgence with Russia and Saudi's pledging to cut production. Qatar has pulled out of OPEC chasing LNG. Perfect trade for that scenario.
Technicality's: Price below Cloud, tenkan below Kijun, Chikou is below the price, Future cloud red, Price not far from Kijun or tenkan, Tenkan, Kijun and Chikou not in the cloud nor the price.
TP Targets: 10.82, 10.59, 10.35, 10.12
GBPNOK: Long term short.GBPNOK is trading within a long term 1W Channel Down and has just made a Lower High. With 1M neutral on RSI = 51.074, CCI = 29.2202 and Highs/Lows = 0.0000, the price is on the most optimal levels to short on the long run. TP = 10.56170 & 10.4500 in extension.
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.E7 STRUCTURE FORMING
NOT MATURE YET BUT EVOLVING BE CAREFUL!!!
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
GBP/NOK possilble 5th bullish wave?I see GBP pairs bullish at the moment.
Profit Target:
10.77
Stoploss:
10.66
Have a nice day,
Berk
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.38.2% & 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
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.E4 STRUCTURE
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
GBPNOK Reversed Perfectly at the 1.618 Fibonacci // AB=CDGBPNOK reversed at 1.618. See my previous post about the GBPNOK analysis.
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
ABC Pattern For GBPNOKTake Profit at 1.618 at D Point
Enter at C Point at 0.618
I am anticipating GBPNOK price to reverse near the 10.58673 price level.
38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.38.2% & POSSIBLE 61.8% Retracement SHORT GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS
GBPNOK Breaks Out of Bear Trend!Hello Traders!
GBPNOK has broken out of the bearish channel, at this point, a lower degree correction is good reason to buy.
Target hit. Lower High made. Short continuation.TP = 10.5800 as the 1D Channel Down on GBPNOK marginally crossed the previous Lower Low. As you see it is now limited to the resisting line, making repetitive Lower Highs under this mark, hence the neutral RSI = 52.471, Highs/Lows = 0.0000. We have place a new short now with TP again = 10.5800 and if crossed extension to 10.5000.
Target hit. Channel Down continuation. Short.The previous TP = 10.68907 was hit and as expected the 1D Channel Down on GBPNOK (RSI = 41.174, ADX = 24.685) has continued lower on a more steady pace and controlled bands (MACD = -0.023, Highs/Lows = 0, B/BP = -0.0513). We continue to short, TP = 10.5800.
1D Channel Down. Short.GBPNOK is on a 1D Channel Down (RSI = 43.982, MACD = -0.036, Highs/Lows = 0, B/BP = -0.0375), and was just rejected on the soft Resistance (blue dotted line). 10.68907 is a strong 1D, 1W support and this is our TP. If it breaks then then downtrend will continue.
OPEN GBPNOK 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.
