The beaten NOK has quite some room to correct, even if it can't reverse strategic bullish for some more time.
Weekly: - The big picture is bearish, but price retested Kijun during last few weeks. It turned down again 3 weeks ago, but failed to continue bearish and to deliver a lower low. - Heikin-Ashi turned bullish again, with anouther attempt to cross back above Kijun. haDelta/SMA3 crosses up. haDelt has been building positive divergence for almost a year now! - EWO is bearish, but value is moving higher. - Bearish supports and possible retracement levels are: 1,0251 and 1,0420
Daily: - Initial break above Kumo failed, and price dipped again. However price coudl not make a lower low, instead developed a small bullish trendline. Last friday price attempted another bullish break above Kumo and Kijun Sen. I called my Twitter followers attention for this. - Heikin-Ashi made a strong bullish reversal from the Kumo cloud, with high momentum. haDelta/SMA3 crosses up and moves above zero line. HA Oscillator switched to bullish. - EWO back to neutral.
Try to accumulate long in 0,9840-0,9910 area, with initial stop ard 0,9715. Initial target is 1,0250-1,03.
Comments
TA_Valley
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but it is slow lol
Kumowizard
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Slow??? It is always different. When there is sideaway, they are slow. But looking at EURUSD it has been slow for couple of days too.
Look at May-October/2015 price action. It was no slow, but heavy and agressive.
TA_Valley
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well I think this is a good deal now..but I only have some position at 0.99.....I am thinking about adding more if its retrace, is it ok? I think it will go more up,I mean more than 1.02-1.03
Kumowizard
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SUre. There is no such rule it can't go straight through weekly Kumo. NOK has a lot to catch up. And oil is quite firm now.
TA_Valley
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i think noksek is finishing a monthly inverted head and shoulder wow
TA_Valley
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hey sir do you think there is something special for such pairs as NOKSEK and AUDNZD? I found them awesome, easier to predict.
Kumowizard
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nothing special. same as any other crosses, or instruments. You play one against the other. I don't say easier to predict, maybe even more difficult to hold positions as they can be less liquid and more volatile than majors.