USDNOK : Wolfe Wave Setup

FX:USDNOK   U.S. Dollar/Norwegian Krone
Good morning traders,

A potential Wolfe Wave setup on USDNOK             . I´m entering shot at current levels with SL above 8.2066 on a daily close. I will trail stop

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1. Never add to a losing position .
2. Don´t be the first to buy low and sell high ., and don´t be the last one to exit
3. Think like a fundamentalist, trade like a technician .
4. Keep your analysis simple
5. Start small and increase exposure when trend is confirming your analysis
6. The hard trade is the right trade

Josep Pocalles
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What is your take in usdcad? Should be similar...
Yes, it should move with positive correlation but it didn´t break my trigger levels yet, below 1.315
+1 Reply
IvanLabrie PRO Realisto_FX
BACA or just a dip?
what BACA stands for ?
IvanLabrie PRO Realisto_FX
Alcindor's terminology, when he wants to see a move past a resistance and closing there too.
I thought you were using it, since you use wolfe waves.
Ok, no I don´t use it, we both use Wolfe waves but I usually wait a trigger level to confirm the formation. In strong trends like USDZAR has proven safe to wait for a reversal, while he anticipated too early . As far as leverage is under control, both options work.
IvanLabrie PRO Realisto_FX

Yes, good call, me too.
IvanLabrie PRO IvanLabrie
Shorted confirmed downtrend at 1.32009.
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