EURNOK - Swing short. Will it keep trading range, or will break?

FX:EURNOK   Euro / Norwegian Krone
49 2 1
I opened some shorts today, based on my last post ( pls             see linke below) and on today's 4 Hrs             px             action. Maybe I did a bit too early, but gvn the daily Kumo, I had to pull the trigger to get reasonable expected risk-reward ratio. Anyway, it looks like we may see a further consolidation.

Daily: Not much change since my last post. Small daily hammers following each other with touch lower closes. Bulls seem to be trying, but they fail each they. Chikou Spn             back below Price candles. This can develope to a bigger selloff. Maybe even below 1,3050 Major Key Support? Hmmm... let's just not predict it too early. Just a thought. What we see now is still just a range trading. If it breaks lower, then it will, if not, then the range will stay.

4 Hrs: weak Tenkan/Kijun Sell signal, Price couldn't move back above Kijun Sen twice. Price ticking below Kumo, but we still have the horizontal Key level ard             8,37 to be cleared. Also ADX is still too low. In fact this is still just a sideaway, with some selling pressure. But there's the chance it can accelerate later.
This short position worked pretty well. Price broke below daily Kumo and from now it will likely keep bearish bias. As Price got close to 8,20 key support, I closed half of my short at 1,2425 and sold some 2 weeks maturity covered Puts for the rest.
Today's CPI release put pressure on EURNOK finally. Price dips below Key Support. Maybe we'll even see a bearish Kumo breakout and a trend reversal? Next important support level is 8,1850.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out