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Norwegian Krone/US Dollar

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NOKUSD trade ideas

USDNOK, Major Head-Shoulder-Formation, Here Is How It Completes!Hello, Welcome to this analysis about USDNOK and the 4-hour timeframe perspectives. In my recent analysis, I discovered some interesting signs forming in USDNOK which are important for the upcoming determinations. As when looking at my chart now we can watch there how USDNOK is about to complete this major head-and-shoulder-formation with the left shoulder and the head already completed and now USDNOK is about to continue with the right shoulder in the structure which will finalize likely as there is a main local resistance-zone marked in my chart in red from where USDNOK is likely to pullback and continue to complete the right shoulder in the schedule. Once USDNOK is below the 65-EMA in green and the 35-EMA in red the whole formation is likely to complete as the EMAs already formed a bearish crossover. Once USDNOK finally breaks out below the neckline as it is marked in my chart USDNOK will have finalized the whole formation and it will be the appropriate setup for the continuations to the downside as well as activation of the head-and-shoulder-target-zone marked in my chart in blue within the 8.62 Usd level. Once the target-zone has been reached the situation needs to be elevated anew and if USDNOK manages to firstly stabilize in the structure or sets up a further continuation to the downside, it will be an interesting and important development ahead. In this manner, thank you for watching my update-analysis about USDNOK and the main head-and-shoulder-formation likely to complete and activate targets in the upcoming times, support the analysis with a like and follow or comment for more market insight! "The high destiny of the market is to explicate, rather than to speculate." Information provided is only educational and should not be used to take action in the market.
by VincePrince
3
USDNOK-SELL strategy Daily chartThere is strength in the pair, and USDZAR has come back as well in strength. However, we are near GANN resistance 10.7400 and 10.9200. The stochastic is high 90.0 so I suspect we must carefully continue to SELL the pair. It is difficult to change view point in this case, since we did not correct the pair as yet, as the conditions have not changed technically, is my viewpoint. Strategy SELL or ADD @ 10.7850-10.8250 and place stop-loss above 10.9750. Profit order @ 10.3250 for now.
Short
by peterbokma
Exploring Minor Trends in Trading Hey traders! Today, we're diving into the fascinating world of minor trends – those subtle shifts in the market that can hold hidden opportunities. Minor trends are like whispers in the trading landscape, often overshadowed by major trends but with their own significance. They occur within shorter timeframes, making them perfect for agile traders seeking quick moves. Timing is Everything: Minor trends typically span from a few days to a couple of weeks. They're like brief guest appearances on the trading stage, offering chances to capitalize on short-term fluctuations. Spotting the Signals: Keep a keen eye on price action, volume, and technical indicators to catch the subtle hints of a minor trend forming. These clues can help you stay ahead of the curve and make informed decisions. Ride the Ripples: Minor trends can present both bullish and bearish opportunities. Whether it's a minor uptrend offering potential long trades or a minor downtrend for short plays, adaptability is key. Seize the Moment: While major trends may get the spotlight, minor trends offer quicker rewards. By understanding when and how they occur, you can add a dynamic layer to your trading strategy. So, traders, embrace the power of minor trends! Sharpen your skills to harness these fleeting yet impactful movements in the market. Remember, success lies in staying nimble and seizing opportunities, no matter how small. Happy trading!#TradingInsights #MinorTrends #TradingStrategies #StayNimble
Long
by GMthepipgod
USDNOK-SELL stragegy Daily chartWe are in a range for now between 10.3850 and 10.0300 area. The shape of the channel suggest it will become a continuation pattern, and for that reason I prefer SELL into rallies. The range will remain wide, so we require deep pockets for this one. The stochastic and RSI are turning, but not confirmed SELL as yet. Pressure exists though, and for that reason I feel we remain or should be short. Strategy SELL @ 10.2300-10.3150 (or sooner depends to your risk appetite). Take profit @ 9.8350. we need break of 10.0300 of course, but am estimating the GANN angle and it feels we go south more than before. Stop-loss above 10.3950 only.
Short
by peterbokma
2
USDNOK-BUY strategy 4-hourlyt feels the pair has been behaving like a fixed exchange rate. we have range for many, many sessions, and this may discourage anyone for committing to a trend. The cloud is supportive with support 10.0400 (base cloud) and 10.1390 above cloud. The base- and conversion line are identical, and for the rest stochastic is NEGATIVE. The daily chart shows we are positive for higher levels to be seen. Strategy can be twofold: 1. BUY @ 10.1500 and place stop-loss @ 10.0250, and taker profit @ 10.3750 2. SELL @ 10.1900-10.2100 and place stop-loss @ 10.2350 and take profit @ 10.0575.
Long
by peterbokma
USDNOK: Confirmed Bullish Butterfly at Structural Demand LineUSDNOK is sitting at the Demand Line of an Overall Bearish Ascending Broadening Wedge Pattern that happens to align with the 1.272-1.618 PCZ of a Bullish Butterfly; along with that, we have PPO Confirmation, RSI BAMM, and a MACD Bullish Crossing. Given the scenario, I can see this trying to retrace up 50-88.6% of the Harmonic Range before coming back down and confirming a partial rise, after which we will then possibly have to look for opposing Bearish signals.
Long
by RizeSenpai