USDNOK trade ideas
Short USD/NOK TP @ 9.27 ( short term outlook) Short idea for this pair.
My target for this pair at the current pace of economical outlook is 9.27 which was the resistance to start of uptrend in March.
Thanks for viewing ! This is not financial advice , please do your own DD and RM.
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USD/NOK - 8hr TF - LongCandle build up at resistance / bull flag type pattern. Usually a strong sign of a break-out.
If possible, try to buy at the bottom of the flag, for tighter stop loss.
Take profit at next area of selling pressure, highlighted by the red rectangle.
USDNOK an attempts to breakout 🦐USDNOK an attempts to breakout According to Plancton strategy, we can set a nice order
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Follow the Shrimp 🦐
SHORT SETUP Are we Going to see this move to the downside to complete the correction before a rally to the upside?
Market reached the supply zone and the QML
TRADE WITH CARE
USDNOK 4H RectangleOANDA:USDNOK This pair is likely to rise and break out from the rectangle pattern, as DXY is currently getting her momentum
USD/NOK MULTI-TIMEFRAME ANALYSISGood day trader's, here's my day nineteen video of the #100DaysofTechnicalAnalysisChallenge. USD/NOK caught my interest and here's a full breakdown on it. I'll look to go LONG on USD/NOK only if my trading criteria is met. Let me know your sentiments on it in the comments.
SHORT USDNOK IF IT BREAKS DOWN THAT LOW.Strong momentum down and a pause expect to go down if market brakes to the downside.
Why I hesitate to short USDNOKA follower sent me this link and was excited to short it and ask for my views.
Looking at the daily chart, we can see that this pair has fallen more than 20% from the peak at
12.00 in mid March till now.
As the price has fallen quite a lot within the channel, there is a higher probability that it might pull back (see the blue turquoise candles) before it resumes its downfall. Remember, if you had for some reasons missed selling it at 11.00 plus, you are inching closer to the profit target (8.25) from current price than before. That presents a higher risks as well.
It could also continue to fall further to revisit the support at 9.08 level before correction takes place.
If I have to short this pair, I would wait for the breakdown of the price action from the channel before executing. Or, if the price does pull back, I will wait for a few days to see how strong the correction is. It may resume its downfall midway within the channel as well.
Just like we do not chase price when it is already trending high up, we do not chase price down when it has already fallen much. The concept works the same. The higher you have to set your SL , the higher the risks you have to bear. Always consider the risks factor and not the reward (8.5) first.
Everyday, there would be analysts, bankers, hedge fund managers selling you their piece of advice to buy or sell something. It is for their gains , not yours so read the news with a pinch of salt and be selective else you will be all over the place and lack focus in your strategy.
USDNOK Could retest a previous support 🦐USDNOK Could retest a previous support, we are waiting for a confirmation and According to Plancton strategy, we can set a nice order
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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 Plancton0618 strategy will trigger.
USD/NOK IS READY TO CONTINUE GOING UP!After a first bullish reaction in the bottom (91965) the price made a retracement just into the last resistance now turn support. Now I'm waiting for a break of the last swing and the entry on the correspondent pullback.
