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NORWEGIAN KRONE / BRITISH POUND

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NOKGBP trade ideas

GBP/NOK for Long! The chart looks really good, the buyer has strength on the upside and is not loosing it inside the range. The seller however, looses his strength with every touch of the top of the range. Right now the price is good and it is making a mini range on the 1H chart. If this range holds, there could be a possibility for a long continuation after the upcomming GBP Manufacturing CPI news, which are expected to be better than before. However, my risk here is reduced and Sl and TP will be more conservative. Management around the news needs to be extra careful, because spikes are a possibility! Crude Oil Inventories are coming up later today, but they might not affect this as much. This is not a financial advice, this is just my analysis, based on price action and my knowledge of the markets. You make investment decisions at your own risk!
GLong
by DelyanIvanov
GBPNOK MULIT-TIMEFRAME ANALYSIS & TRADE - DAILY W & WEEKLY ICIHello everyone, if you like the idea, do not forget to support with a LIKE and FOLLOW for more creation of free analysis. \m/ Looking at Monthly we're about to have a cut for short on the EMAs, though we still have a bullish due to MACD above 0. Also looking at Weekly we have an ICI, we already have the impulse and the retracement up to the 0.50 of the fibonacci retracement. Dropping down to the Daily we have a W pattern forming where we can see a retracement to the neckline or wick of the daily candle and a retest of the structure of previous resistance turns support. Now on the 4H where we take our entry for the Buy on the neckline or wick of the W formation, though we still have a bullish momentum on this we will wait for the retracement before continuing its uptrend, stop loss is below the low and the take profit is at the fibonacci of the impulse of the W formation. Our entry for the Weekly ICI is on the 0.50 retracement where its also aligned with structure. Trade Signals BUY Entry: 11.5815 Take Profit: 11.7230 Stop Loss: 11.5347 =================== SELL Entry: 11.7225 Take Profit: 11.2265 Stop Loss: 11.8204 Good luck! Trade wisely, please do proper money management. ~FX_SHIFTER
by fx_shifter