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U.S. DOLLAR / NORWEGIAN KRONE

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USDNOK trade ideas

First sell entryFrom the R:R view it may be reasonable to sell today. On the m15 t/f price it at the trendline, with the high probability of breaking it down. Strategy is as follows: - trade wave B down in the three-wave structure, may close part of the trade when price reaches the local low - wait for the completion of an assumed correction and trade the larger move down. Basically, evth on the chart. Price would not move exactly as I plot, but if the structure appears like that, do not miss this opportunity. Good luck!
Short
by UnknownUnicorn3382580
USDNOK - Going to fall Made a spike down but retraced it just as fast and is now going up, for the last time hopefully. Ideal retracement zone is the 61.8% level but we could see it turn a bit sooner, around 9.039. As you can see, the 38.2% retracement level has been hit, which is the minimum required. So, if we see price go down right away, the count still remains a valid one. If on the other hand we see a new high, we will need to get back to the drawing board.
Short
by ElliottWaveBelgium