NOKUSD trade ideas
USDNOK: BUYMany of our setups for this week on USD pairs are leaning more towards a bullish bias. As you can see on USDNOK, if you drew a Fibonacci from low to high off the daily time frame, you can see that price closed right around the 50.0 entry level of the Fib last week, so if you take this idea, feel free to set your stop loss level and expect to take profit around 9.6932 .
Double Bottom At Support And 200 Day Moving Average We're at a support and resistance zone and above the 200 day moving average attempting to make a higher low.
USDNOK short-term sellTrend line
M15 flat
Price is pushing through support, that will turn into a resistance
Entry at the retest
Trailing stop loss
BEARISH OUTLOOK FOR USDNOKUSDNOK Formed a double top structure on the daily timeframe and from there we saw a breakout of the neckline and yesterday the price retested the neckline. The daily candle close was a pinbar showing bears attempt to push the price lower. All this gave reasons to go short.
What is your opinion on USDNOK?
Idea on the zoneWe have a key area being respected i dont normally trade this pair but my predictions are bearish.
USDNOK MONTHLY TIMEFRAME LONG OPPORTUNITYUSDNOK Reacted very nicely from our previous monthly support area and came back to retest the area again. Price structure remains bearish on the lower timeframes however on the bigger timeframes such as the weekly and monthly price remains above bullish structure. If price manages to hold current structural area or near the area, we can expect a good long swing trade opportunity. Keep an eye on it.
BUYS ON USDNOKDisclaimer!
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🔺 You must do your own research to create your own trading plan for the market
LONGEnter: 8.73795
Exit: 8.77712,8.80205,8.84122
SL: 8.69345
BULL Reason:
1. Strong Demand Area
2. Fib Retracement Complete
BEAR:
PLEASE point some..!
USD/NOK going down!Hi, price broke the ascending trendline and made a pullback... and now I think it's going down.
Use proper money management!
USDNOK LONG ON POSSIBLE RE TEST ON SUPTOANDA:USDNOK
After a weak business sentiment news, dollar bulls maybe unwinded long position to book some gains. Im looking to buy at possible retest on support on USDNOK.
Whats your thoughts.
USDNOK Target Price 8.84255USDNOK Entry Price 8.71538
Pin Bar Date Time and Price (x,y)
(12-Aug-2021 at 16:00, 8.71538)
USDNOK Found Support at 8.7 and Long Target at 8.9Trend Analysis
The main view of this trade idea is on the 2-Hour. The fx cross USDNOK appears to have found support around the 8.7 price level, as the countertrend move in the currency appears to have ended. This produces an opportunity to go long USDNOK with initial resistance observed around 8.9, which can be an initial target for the fx cross.
Technical Indicators
The premise is based on the RSI emerging from oversold levels and currently near the 50 level at the time of publishing. Also, there is a positive crossover on the KST. Despite the fx cross being below its medium-term MA (75-SMA), USDNOK is above its fractal MA and testing its short-term MA (25-SMA).
Recommendation
The recommendation will be to go long at market. Stop loss will be set around the 8.7 price level and a target of 8.9. This produces a risk-reward ratio of 1.3.
Disclaimer
The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in USDNOK.
USDNOK!We see a setup of 3 waves that signals of a reversal.
We were long on some Nok pairs but on this, we see a sell setup.
Trade with care use a stop loss.
USDNOK - intraday longYesterday I have posted an approach how to trade breakouts. Here we go with the first practical structure, close to the one explained.
NOK Uptrend Breakdown + August Bullish for OilThe USD/NOK pair recently finished the upward move it began in mid May, which we previously traded successfully. The pair has now executed a bearish crossover and looks to retest lower levels such as 8.45 or even resume the prior secular downtrend.
August is historically a bullish month for petroleum prices, which directly influence the NOK, so we should have a tailwind at our back. www.fxstreet.com
USDNOK (Long)Long Call
Bullish Signal @ Fib Levels
Higher high & Higher low formation in place
Hammer & Morning star patterns @ Fib level
Trend line @ 4hr Candles
Entry @ breakpoint of previous Higher high
Stop loss below lower low
2 Stage Target profit
Entry - 8.179150
SL - 8,71313
TP 1 - 8.87100
TP2 - Trailing Stop Loss
USDNOK LONGUSDNOK is currently moving on an uptrend and has created a falling wedge, so it is showing us that it is definitely a strong Buy.
It is definitely respecting its trend.
ENTRY @ 8.85348
TP @ 8.89239
SL @ 8.83623
I do have a tight stop loss but if you want to make a few adjustments on it, feel free to!
Happy Trading :)
USD/NOK - I take profits now!Last update:
YES! The bulls can turn the move up into momentum and we cross the resistance at NOK 8,72980. Now I see a 5-part movement within wave 3. USD / NOK should now come back in wave 4 in green up to a maximum of NOK 8,49547. I estimate the current correction as wave 4, which has room to reach the mentioned area.
USD/NOK - The bulls are strong! YES! The bulls can turn the move up into momentum and we cross the resistance at NOK 8,72980. Now I see a 5-part movement within wave 3. USD / NOK should now come back in wave 4 in green up to a maximum of NOK 8,49547. I estimate the current correction as wave 4, which has room to reach the mentioned area.
false breakout then again captured some good retail moneyfeeling bad for retailers always dumbass
sell will be good
USDNOKfor me its just a bounce, I hope again drop below 8.50
Maybe a reject coming very soon 📉
Short term bearish 📉
Long term bullish 📈
