A very interesting pair to short based on a fundamental story and a technical set-up.
The fundamentals favor NOK going forward in terms of growth and yield. NOK is effected by OIL, so this simplistic picture is a bit distorted.
Looking at the chart, a small short just under 61.8% (9.9550) or a watch at 9.5622 for a short, might make a short-term trade, which could snowball into something else.
3 hour:
1 hour:
The fundamentals favor NOK going forward in terms of growth and yield. NOK is effected by OIL, so this simplistic picture is a bit distorted.
Looking at the chart, a small short just under 61.8% (9.9550) or a watch at 9.5622 for a short, might make a short-term trade, which could snowball into something else.
3 hour:
Comment:
Capturing the swings of the stock market & currency market. It's a dirty job and equity/currency traders must do it.
1 HOUR: Better risk /reward than previous day to add short. I don't know exactly where, but below the 50 moving average. If it surpasses the 50 after this large "push" down on the 1 hour, then I will throw in the towel, and maybe next time: