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11021992
Mar 13, 2016 5:03 PM

USDNOK long entry as soon as markets open Long

U.S. Dollar/Norwegian KroneFXCM

Description

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
Comments
Akhmatbek
Thank you
11021992
Maybe it will retrace to 8.4895, for a good new entry.

11021992


Divergence on the 4 hour chart.
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