Correction GBPNOK educationalHello Traders,
Correction in a channel/triangle for wave b or x
Your reflection and contribution to this thought analysis are highly honored.
Thank you.
NOKGBP trade ideas
GBP/NOK Covering this exotic pair by request .The Sterling expected to gain value as we notice its increase in value after Brexit. Expecting this pair to rally to the 12.369 Support level which if next weeks news happens to go in our favor we could be into some good selling / buying territories. Key levels for this week include 9.84 , 11.07, and 12.369.
GBPNOK short for 8/4Daily candle analysis suggests that GBPNOK is ready to make a move lower.
I will be accumulating short entries on the 15 minute time frame.
10 pip stops, 50 pip take profits for each entry.
Big move for GBPNOK this month?Monthly candle analysis suggests that this market may move lower this month. This is due to how price behaved around the 5 EMA in July as well as economic uncertainty keeping GBP weak.
This pair is now on my watch list for the month of August. I'll be watching the daily time frame for short signals. Once I get a signal on the daily, I'll move down to the 15 minute chart and try and catch the high of the day during London.
My goal is to "scalp" this month's potential movement, booking pips on the way down.
GBPNOK continues down to lower zoneGBPNOK just bounced off 286 and is set to resume course towards resistance zone as indicated.
GBP/NOK H4 Supply zoneprice in control of MN Supply zone with created very good H4 nested in Daily Supply zone.
When price will retrace back I think there will be bounce from that H4/D1 SZ at least 2:1.
GBPNOK DAILY BULLISH CYPHER SET UPMY PREDICTION FOR THIS PAIR FOR THOSE WHO ARE PLANNING ON HOLDING LONG TERM. LET ME KNOW IF I AM RIGHT OR WRONG. THANKS
GBPNOK MONTHLY BULLISH GARTLY SETUPMY GBPNOK MONTHLY IDEA: IF THE PA RESPECTS THIS SET-UP, THIS WOULD BE AN OPPORTUNITY FOR THOSE WHO LIKE TO TRADE FOR LONG TERM. FOLLOW THIS PATTERN WITH SL IN PLACE, HOWEVER ENTRY FOR THIS PAIR IS AT D. I WOULD REALLY APPRECIATE YOUR VIEW ON THIS PAIR GUYS, THANKS
GBPNOK possible weakness building?Weak heads and shoulders pattern building and possibly going to be tested to the downside in the short term from further fundamental and technical weakness? 10.615 then 10.46 if it heads south. 10.864 support to the upside.
[GBPNOK] POTENTIAL SWING AND TRADING OPPORTUNITYGood morning Traders!
If the pair will develop our AB=CD pattern (bullish), we can try to take long position on pullback. Follow this analysis together with us!
Thank you for your support and trade with care!
GBP/NOKTechnical:
- The Pair has found resistance at the 61.8 Daily Fib (Price: 11.224) and slight support/testing the 38.2% Weekly Fib (Price: 10.989).
o Looks like it will break that support.
- Looking to open short after strong daily close under the 38.2 Fib and Enter a moderate Short
o For active traders, Stack.1 will be a close below the 50.0% Daily Fib (Price: 10.90)
Fundamental
- GBP: CPI (YoY) release Tuesday, 16/5/17
- GBP: Average Earning Index + Bonus (Wednesday, 17/5/17)
- GBP: Unemployment Rate (Wednesday, 17/5/17)
- GBP: Retail Sales (MoM) (Thursday, 18/5/17)
Announcement wise the GBP will lead the pack with some core economic data coming out which will definitely test those support levels.
