USDNOK trade ideas
USDNOKEUSDNOK showing Strength of Sellers but over all in HTF is Bullish Trend
Whats are yours Prediction?
Week6 - Bearish Flag- USDNOKWeek6 - Bearish Flag- USDNOK
Chart shows good bearish flag and good to have sell stop entry
USDNOK Up.USDNOK Up.
38.2 Higher Low.
Similar move in other exoctic pairs against USD. Building confidence in trade.
US Dollar / Norwegian Krone decision pointUSD/NOK has recently broken its long-term uptrend, to now being in a long-term downward pattern. However, from its current position will it move back up to the 0.718 level or back down to the 0.5 level?
Let's look at 2 different ideas:
(1) If you look at purely technicals alone, going with the long-term trend, one would have to say back down to the 0.5 level.
(2) However, counteracting this downward trend, is the price of Brent oil slowly sliding downwards, affecting the rate of growth of Norway's economy (~70% of Norway's exports are oil & gas).
USDNOKNorwegian krone become stronging under zone 10.84 and want retest for 10.15 but any break of zone we look for 11.25
USDNOK - S&RI placed support and resistance on a 4-hour time period and conducted analysis over 1 hour, thus I placed sell stop and buy stop orders.
USDNOK 1H - In Range Analysis:
USDNOK is currently in range. We can take take long or short trade when the price breaks support or resistance level.
------ Trade 1 ------
Type: Long
Entry: 10.72718
Stop Loss: 10.69803
TP1: 10.75633
TP2: 10.78548
------ Trade 2 ------
Type: Short
Entry: 10.36458
Stop Loss: 10.49155
TP1: 10.23761
TP2: 10.11064
USDNOK Targeting A Daily B Wave High EntryIn this update we review the recent price action in the USDNOK and identify the next high probability trading opportunity and price objectives to target
Head and shoulderAlso on the weekly chart, it bears downwards. I think we will have a real bearish rally.
Head and shoulders have formed on the daily chartPerhaps it is time for a sharp correction. I think so.
Let's play!
USDNOK REVERSALUSDNOK has seen a reversal pattern formation. We have also seen DXY retreat last week as fears of the fed rate hike eased a little allowing the DXY to print a new low. DXY could see a move down to 102 allowing more dollar weakness and this pattern to play out. All eyes on thursdays inflation data
$USDNOK - Now we wait...$USDNOK - Now we wait...
Another week for us traders to take advantage of
Excellent set up for usdnok - now we wait for a break to either direction we do have key fundamental data this week. Will Powell be as before dovish or will he hawkish as well as that softer cpi coming our way expected and then taking into consideration the technical view of usdnok it's not bad R/R either direction.
Trade Journal
Shorting usdnokHello traders. How was your weekend? I hope all is well. Anyway, The confluences have influenced this shorting position. Going back to work tomorrow. I'll be managing both my trades over the week. Have a blessed week.
NO.26After completing its ab=cd pattern showing trend reversal and it is making higher highs and higher lows that's why I have opened a long position.
My Weekly Analysis 51 Pt. 2I go through my currency pairs and analyze them while listening to music and talk to you guys.
*not a financial advisor*
USDNOK reversal after market open Im expecting strong upward move just after market. If you see strong bullish candle (5min) buy and target 10.79 or 10.96. If any of 15M candles closes under the SL zone, cutloss your trade. Dont set fix SL, cutloss manually. I wish you good luck.
USDNOK 27/10/2022Weekly:
-ICI pattern.
-Previous resistance is now acting as support aligning with the 61.8.
-Expecting at least a reaction to the upside.
Daily:
-M formation.
-Expecting a retracement at least to the previous zone of support that could be acting as resistance.
4H:
-Inverse H&S pattern.
USD/NOK Round 5.61.8%
Old SR
4H EMA
3 Confluences points.
Order in at 61.8% ( not filled )
SL above 10.60
Target: Lower parallel channel projection.
