NOKGBP trade ideas
Possible short in the marketAs on the daily TF, the overall trend indicates downwards. The setup comes with few confluences in my eyes,
1. Trnedline BO strong and Retest the trendline back with showing momentum of price in the short direction.
2. EMA-21, 50 crossover ensures
3. A head and shoulder pattern formed.
Let see how this pair performs.
GBPNOK: Entered at the break and retest of the bearish TL Buy
I expect price to to back to the PFH(peak formation high) so all trades must be closed there
🔺 Disclaimer! The content of this analysis is subject to change at any time without notice
🔺 It is provided for the sole purpose of assisting traders to make independent investment decisions.
🔺 You must do your own research to create your own trading plan for the market.
GBPNOK possible shortGBPNOK market has failed to make a higher high on the daily and has now formed this head and shoulders pattern at weekly resistance, we are waiting to see a bearish impulse breaking and closing below this strong level of support then we will be waiting during the correction on the 4hr timeframe for market to first go and retest previous support which will then be turned resistance, then form new bearish structure during the correction... If we see the proper confirmations and all other rules are met we will take the short.
Don't miss this great buy opportunityBUY
DISCLAIMER
-The content of this analysis is subject to change at any time without notice
-It is provided for the sole purpose of assisting traders to make independent investment decisions
-You must do your own research to create your own trading plan for the market
GBPNOK intraday shortOn the daily timeframe market has formed a W formation, after a W you can expect the patternt to complete at the neckline as it does most of the time giving us a downside target... on the lower timeframes at the moment market is still bullish forming higher highs and higher lows. We are waiting for a break of trend and new bearish structure to form then we can look to short on the retest of broken support which will then be turned resistance.
GBPNOK looking up 🦐GBPNOK on the 4 h chart After breaking the minor descending channel, broke above the resistance and currently retesting it.
According to Plancton's strategy, if the conditions will be satisfied, we can set a nice long order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigge
GBPNOK breakoutAfter a local downtrend, now upon breaking it, if price hits support (previously resistance) and bounces there is a good chance for long trade.
GBPNOK LONG.GBPNOK we are bullish. On the monthly market is at strong demand a zone that has been respected as support a number of times, on the weekly market has recently made a new higher high, on the daily market has broke out of the downtrend after forming this inverted head and shoulders which we have already capitalised on, now the market has given us a nice correction to retest the previous resistance as new support now we can expect the continuation to the upside. We will be waiting on the 4hr TF for market to meet our entry rules then we can take the LONG.
GBPNOK two opportunities to capitalise
GBPNOK we have a nice W formation on the daily timeframe, market has recently broke the downtrend with a strong bullish impulse and formed a inverted head and shoulders breaking above the neckline, we expect the W formation to complete at the neckline, and we are expecting a correction after the impulse we have had for market to test broken resistance as new support before the continuation to the upside, so we have a nice intraday position lining up to short to the neckline if our rules are met on lower TF then, a possible SWING setup if we see a proper correcton, to long to catch the continuation to the upside (I.C.I strategy)
GBPNOKGBPNOK we are bullish recently GBP ha shown strength across the board, market has broke above the downtrend on the daily timeframe and formed a new higher high higher low structure, also forming a nice inverted head and shoulders, we are now waiting for the market to make a retest of the new daily support if it holds we can drop down to the 4hr TF and look for a valid entry to long.
GBONOK on a channel break 🦐GBPNOK on the 4chart is moving inside a descending channel.
The price after the last bounce over the monthly support at the 11.44 level starts a bullish move and now testing the upper trendline below a minor resistance.
IF the conditions of Plancton's strategy will be satisfied, we can set a nice long order
--––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Leave a comment that is helpful or encouraging. Let's master the markets together
GBP/NOKPossible move for GBP/NOK.
Please take our charts for reference purposes only cause we hedge our trades against our pairs.
