NOKEUR trade ideas
EURNOK and USDNOK SetupsEURNOK and USDNOK both been in a prolonged downtrend with multiple swings and we have reached an important support/flip zone on the daily chart.
Looking to see a reversal here and we already getting signs of trend exhaustion with a potential double bottom pattern and we could also create our first higher low swing here with a break above the highlighted zone.
A simple trade idea with good confluences. Await for the break and close to enter.
"EURNOK: first target reached" by ThinkingAntsOk4H Chart Explanation:
- Price was on a Ascending Wedge.
- It moved down towards the Weekly Ascending Channel after the wedge was broken.
- Bullish CCI could be indicating a correction.
- If price breaks the Ascending Channel, it has potential to move down towards the Support Zone.
Daily Vision:
Weekly Vision:
EURNOK is near the Support/Resistance Zone!We can look for accurate Buy entry above the Support/Resistance Zone.
The best trade will be after the false breakout and D1 candle will close above.
Potential profit will be 3 times bigger than the risk.
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