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.
USDNOK trade ideas
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 📈
USDNOK Pennant Pattern and Pin Bar and EMAUSDNOK Entry Price 8.68647
Measured Move Distance In Chart Below
HOW TO TRADE LIKE THEM Current price action 4hr So in on this chart
What I’m looking for is a short entry
For reason I’d mentioned in the links below
So I see a trap pullback into failed bullish continuation as this is seen not by the small bull candles cus the rally can pick up later but by them closing less on their highs as they trend up
What I’m looking for is a bearish candle to close lower than the last candle and having a short to none lower shadow as this will most likely be the second high in the newly formed bear channel as the bears take the bulls pullback.. where I’ll short down to the correction ..
Gl with understanding this free education for your benefit!
HOW TO TRADE LIKE THEM weekly so on this weekly pair we see a strong rejection of higher prices on the rsi n chart so we have to b bearish on the overall direction
Yet we see a correction at the low
Which is testing the necktie here, and the weekly mvwap which we can see on the rsi it gave us a nice rejection. Thus the highest probability here is to short the pair down to the correction
So seeing this as usdcad also move similarly it’s hard to b bullish right on on them until a positive retest of the correction.
HOW TO TRADE LIKE THEM UNDERSTAND TRAPS follow upHere we have two traps
1. A second leg trap that trap two types of traders
This is done as they send price up from support with high volume!
As the market goes up , you see the progression and want to participate over anticipation the move thus you become reactive not proactive.
You buy it when they are already done.
The first type is the one who solely see price going up n hops on the bandwagon bandwagon trading is a risky method! This is Ivy League profession!
The second type is the one that say I’ll wait for a pullback and then I buy.
When the market have it out for you as well as they are the ones that teaches you to buy pullbacks!
Thus they end up trapping most traders cus they don’t trade with psychology
What is this
Is the understanding that markets do what the do based off of their history and it’s well known that they will trap you after a move.!
As some common facts known
1, most breakouts will fail
2, second legs trap and bull traps are placed after breakouts!
3, ranges are magnetic thus a breakout from them will end in a return to it more than not
These are Psychological FACTS! BEEN PROVEN!
thus knowing these we can gear our trades around them
By waiting for them to trap traders and then enter the market
So here we see the second leg trap that is followed by a small candle that halted at the high.
Next we see the break. Higher that ended in a retrace star showing buyers being trapped at resistance.
And this is your entry if you was present on the chart at that time!
Sl your entry and caught 1000 risk free pips!
Gl on this journey!
usdnok Rally ready for wave 5Rally ready for wave 5
Wave 4 has been modified in a zigzag pattern
We see divergence between wave 3 and 5 of wave c
Trendline Corrective Wave 4 is broken
USDNOK Bullish Divergence and Trend Change!The USDNOK pair has sure taken a beating lately. But there are signs that the trend may be changing to bullish.
1. The RLCO crossover occurred Friday suggesting a new upside trend.
2. The CMF shows bullish divergence (a higher level every time a similar level in price is achieved - notice, for example, May 13 vs May 21).
3. We've possibly made a triple bottom, and downward momentum got stopped (for now).
USDNOK looking up 🦐USDNOK after the double bottom over the support has moved to the upside over an ascending trandline.
The price has now reached a daily resistance and according to Plancton's strategy if the market will break above we will 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 trigger.
HOW TO TRADE LIKE THEM BEARISH LONG Looks like a bearish continuation as price rejected the mvwap several times its safe to look for short long trades. Maybe at the retest of the necktie here of the m pattern of continuation.
Gl
USDNOK – bearish continuation …31 May, 2021There is a history of ranging before breaking down in this pair. See how it was ranging between 8.6450 and 8.3800 for several weeks before it broke below. Now we have something similar and despite multiple attempts during the past 6 weeks, this pair has been unable to close above 8.3800. This pair has clearly been on a strong bearish trend since Nov. and I don’t have any reason to think that this will change any time soon.
I am looking to find an entry at/close to 8.3800 with my stop above the recent high. My target will be above the next s/r level located at 8.1800. If this plays out the way I am anticipating, this could be a nice +2.50R opportunity.
As always, watching the price action on a lower time frame before committing to a trade is advisable.
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Always use sound money and risk management in all your trades.
