11021992
Long

USDNOK long entry as soon as markets open

FX:USDNOK   U.S. Dollar/Norwegian Krone
174 3 10
Hi all,

On the USDNOK             (which is the Norwegian Krone, keep learning guys!) we have a solid entry as soon as the market opens in a few hours.
The visual flow is clearly up and on the 4h and 1h chart there is divergence on the RSI (please see below)
Entry is based on a swing high of exactly 1 year ago in combination with the 61.8% retracement of the recent swing.
Stop below the 38.2% retracement of the upward move since 2015 of last year. Targets are based on structure.

Entry: 8.40
Stop: 8.2585
Target 1: 8.589
Target 2: 8.7295
Target 3: 8.987

Best of luck!
Trade active
Comment: Target 1 hit. Took partial profits. Moved stop to just below entry point.
Comment: Adding more lotsize when price hits back to 8.4050
Thank you
Reply
11021992 Akhmatbek
Maybe it will retrace to 8.4895, for a good new entry.

Reply


Divergence on the 4 hour chart.
Reply
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