NOKJPY: Long term trading plan.

The pair is trading within a standard Channel Down on the 1W chart ( RSI = 38.708, MACD = -0.485, ADX = 41.103) since 2013. Three weeks ago it made contact with the Lower Low trend line of the Channel Down and priced a Lower Low. Naturally it has been rebounding since and is close to the 0.382 Fibonacci (14.000 as the High).

The sequence is similar to the last Lower Low it had in June 2016, which after touching the 0.382 Fib, got rejected back to its 0.618 and then made a top on the 0.5 (from its November 2014 High). If the same sequence is replicated, then we should use the 0.5 - 0.618 Fib range (9.850 - 10.150) as the Dip buy Zone and buy every pull back towards the 0.5 (11.500). Then every rise will be the opposite, i.e. a sell opportunity towards 9.000.

** If you like our free content follow our profile ( to get more daily ideas. **

Comments and likes are greatly appreciated.
High quality portfolio management, asset allocation with excellent risk management. Grow your account, achieve steady profit levels and increase your trading edge with InvestingScope (


Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Refer a friend My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out