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USD/NOK

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USDNOK trade ideas

HOW TO TRADE LIKE THEM WATCH THIS PAIR Triple bottom made with an inverted hs. Market is bearish those yet the bulls are very convincing as we can see here The market rejected the average but the bar still was bullish! It sold and returned to the average yet the second time we see a strong bull candle! Notice how price pullback before it retested the average! Also notice how the first test led to a bearish impulse and the second test was a small bullish pullback! Also notice how the market pullback from the bullish impulse retest the diagonal trendline and is now going back for the average.. These as signs of strong buying! Yet impressive the market still need to trade on top of the average and its happens to be a range market controlling the average .. so we can conclude two things here Either this 3 bottom is a test move of the low to go up or a breakout Lower of the macro range and a test before going lower. Either way This present us with a great opportunities as either outcome will be a long trade to hold So if price breaks into the range trades above the average and goes to the high we buy and hold If price failed and go below the triple bottom we sale and hold the trade! Ideally here the move would be failure to trend above the average There no reason to tp as the decision here will be lasting maybe all year.. Gl PS i don’t benefit from doing this nor to I have to its a blessing towards an ungrateful community that don’t give their likes cool I don’t need it but stay off my post THEN cus this isn’t for this for you I do this for ppl who want to improve on there strategies , Gl
by Donajor8
2
Possible Triple Bottom and Bullish DivergenceNOKUSD was in a multi-year uptrend before COVID disrupted things. We have now regressed far below where we were previously, and there is reason to think that a turnaround may be in store. At minimum, we are likely to catch a small bounce here. 1. Bullish divergence on volume-based indicators. With each of these three tests of 8.20, the OBV and Chaikin Money Flow have trended higher. This suggests that at least a small bounce is likely. 2. Longer term: NOK was in an uptrend prior to COVID, and this trend existed since 2011. 3. 2011 actually marked the end of a multi-decade downtrend, which was briefly disrupted by the 2008 recession, after which the prior trend resumed. Might the same thing happen this time, but in reverse? 4. The S&P 500 is starting to look overextended in an historically bearish seasonal period. A selloff would likely send the dollar higher against everything. 5. Lastly, and this probably isn't a good basis for a trade by itself, which is why I put it last, but you may have history on your side in this trade: “An analysis of the time-trend of U.S. dollar values over the course of a presidential term indicates that the U.S. dollar tends to start at a high value for Republican presidents and then depreciates, while the opposite pattern is true for Democrats.” walton.uark.edu
Long
by dtingbudong
Elliott Wave View: USDNOK Rally Should Find SellersShort Term Elliott Wave structure for USDNOK suggests the decline from March 24, 2021 high is unfolding as a 5 waves impulse Elliott Wave structure. Down from March 24 high, wave (1) ended at 8.149 and bounce in wave (2) ended at 8.369. The 45 minutes chart below shows the wave (2) bounce and pair resumes lower from there in wave (3). Pair still needs to break below April 29 low at 8.144 to rule out a double correction in wave (2). Down from wave (2), wave ((i)) ended at 8.291 and bounce in wave ((ii)) ended at 8.3144. Pair resumed lower in wave ((iii)) towards 8.195, wave ((iv)) ended at 8.221 and wave ((v)) ended at 8.186. This also completed wave 1 of (3) in higher degree. Bounce in wave 2 is now in progress to correct cycle from May 6, 2021 high (8.369) as a zigzag Elliott Wave structure before pair resumes lower. Potential target higher in wave ((c)) of 2 is 100% - 123.6% Fibonacci extension of wave ((a)) which comes at 8.32 - 8.342 area where sellers should appear for further downside or 3 waves pullback at least.
by Elliottwave-Forecast
End of USDNOK decline ??Hello I hope you are well This analysis is done on a daily basis and has long-term goals. As you can see, Sharp has a rising price, but in the face of a gradual and slow decline. It is a downward trend. Finding a suitable point seems to allow us to make a good profit from the market. If buyers can break the trend line and the price of 8.38722 with strength, you can be a buyer every time you return to the broken trend line and the mentioned price. But from here, the chart can move to the price of 7.9619, the support zone of which is clear in the analysis, and then climb up. In any case, we are waiting for Kendall's approval. But on Friday, the interesting Kendall finished his work !!!!! 📣 Attention 📣 ⚠️ 1. We publish this trading idea to help analysis, so if you have an idea that you think is right, do not be influenced by this idea. ⚠️ 2. All our analysis and signals are provided free of charge, so we have no obligation to make any profit or loss on our signals and analysis. ⚠️ 3. If you have an idea, write to us in the comments section, we will be happy to use your idea in our analysis.
Long
by fx_iranian_traders
Buy dollar mid summerIt will most likely bottom out mid summer at 7.7 NOK and reverse to the upside. I don't realistically see more downside than that. So, if you live in Norway it should be cheapest to buy gold mid summer. When crypto starts to bleed we will have more capital going into gold. Gold is kinda boring to buy because of the slow moves it makes but I think that is why it will rise soon. 3000 dollar Gold before 2025 is my bet. Wait for weekly RSI at 30 and then sell NOK and trade it towards Gold or USD
Long
by CyberNetGain