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mm5454
Dec 14, 2019 12:14 AM

Telenor nearing buy zone  Long

TELENOR ASAEURONEXTOSE

Description

Telenor is currently in a bearish trend, but it's nearing the area where one should look to buy.

We have two significant horisontal supports. The first @ 156.75, and the second at 150.45.

The logic game plan for me, is to place equal bids at the two levels. Making the potential average cost 153.6.


TP 1: 180

(TP 2: 190)
Comments
Toreaxx
Ah yes, you´re right of course. I think maybe I was looking at the wrong chart :)
We do however have a clue to a climb looking at today, but of course extremely local. Looking at the chart here I´m trying to find the two supports, can you give me a clue?
mm5454
@Toreaxx, if you are thinking about where I see support, it's the green line, and the yellow line.
Toreaxx
@christofferj, Ok, I see, one just before and one after 2019.
I am literally learning as I go, so this information is great! I´ve been looking for any typical formations in this chart, but nothing standing out to me so far.
mm5454
@Toreaxx, I'm not sure if we understand each other, but always do your own research as this is not financial advice:)

But to be as clear as possible, the horisontal supports I see is at 156.75 (green line) and 150.45 (yellow line).
Toreaxx
@christofferj,
indeed, don´t worry, not going to hold you accountable for my actions ;)
However, I try to absorb methods and considerations from ppl lke yourself, who has a much better understanding of the dynamics and approaches than I do. This case is a good example. So thank you for sharing. I´m not in any positions in Telenor now anyway.
Yes, I finally grasped the two support points :)
mm5454
@Toreaxx, This is a good place to start learning: babypips.com/
Toreaxx
@christofferj,
Thanks!
Toreaxx
You were right about this too.
mm5454
@Toreaxx, It has not reached my buy zone yet, but hopefully it will reverse once my bids are filled :)
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