Hello traders, I hope you are all doing great! The last week finished in deep green territory for us (The Greek Trader community) above 500 pips profit and we are doing the same on this one! The trade set up we are looking on is the USDNOK and let us tell you what our analysis is showing us:
Technical Observations 1.We have price reaching a daily-weekly and a monthly zone at 8.78-8.80 level. 2.It's a psychological round number! 3.We have with bullish MACD divergence. 4.We have a double top pattern in the daily timeframe and we have reached the targets of the extensions. 5.We have a Fib extension of 2.618 from the last pullback. 6.We have also 5 waves completed on the 4Hour timeframe.
Possible long Trade
ENTRY at 8.8110 STOP LOSS at 8.7658 TP at 8.99340-9.0 LEVEL RISK/REWARD 4.03
THANK YOU ALL FOR SUPPORT!! KEEP FOLLOWING AND SUPPORTING MEANS A LOT TO OUR ME! Happy profits everyone!!