Head and shoulders have formed on the daily chartPerhaps it is time for a sharp correction. I think so.
Let's play!
USDNOK trade ideas
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.
USDNOK: Descending TriangleI think DXY may lose some ground in the next few weeks, to where no one knows
against NOK there seems to be one of the clearest patterns
a descending triangle, confirmed by the volumes on NOK Futures
I expect a clear break below 10.40 and confirmation volumes on the futures, even if on the descending triangle they are not essential
Krona should benefit from weakening Dollar.
USDNOK H4 23-10-22:
- Norway is making huge profits replacing Russian gas to EU at elevated prices
- If Dollar is going to weaken, Norwegian Krona should take advantage
- Looking for a to push lower to 10.00 (minimum)
- 10.00 = MS1 = Previous Month Open
- Convincing break and close below BUY-VWAP is confirmation
- Convinsing break above Sell-VWAP is invalidation of setup
.
USD/NOK End of trend round 5.USD/NOK
Price have traded outside of the current channel and fell back inside printing a potential blow off top.
Have re-entered 1/3 size on this setup too.
I dont like opening a fresh trade friday afternoon and holding over the weekend.
My Weekly Analysis 47 Pt. 2I go through my currency pairs and analyze them while listening to music and talk to you guys.
*not a financial advisor*
USD/NOK End of trend. 4th AttemptIdea based on previous thesis.
Entered 1/3rd of my position.
Will enter the remaining 2/3rds of the position IF i am right about the trade.
Hiding my SL above 11.04
USDNOK Bull Market | Trend LineExpect USDNOK to increase. Watch for buying opportunities for USDNOK currency pair.
USD/NOK End of trend. 3rd shot.USDNOK: Price has been in a uptrend, i am going for a double top/SR play on this one.
1H Closed below SR so 1/3rd of the position is now short.
IF price breaks down from this area i will use fibs from recent high to the new lows and go for a fill at 61.8% fib to add the other part of the position.
USDNOK idea (19/09/2022)USDNOK
We expect the rise to continue in the medium term, targeting 1.382 percent at prices of 10.7305, and it may extend to 1.618% at prices of 10.9623 to end wave (iii). this rise continues since trading is above the support point of 9.7775
My Weekly Analysis 44 Pt. 2I go through my currency pairs and analyze them while listening to music and talk to you guys.
*not a financial advisor*
