The EURNOK pair is currently testing the 1D MA200 (orange trend-line), being at the same time supported by the 1D MA50 (blue trend-line). This ranged trade is the Higher High after the pair bottomed on December 27 2023 and started rising within a Channel Up. Based on the similar bottom rebound after the July 25 2023 Low, we expect the pair to reach the 0.5...
EURNOK is currently in wave 4, which appears to be a flat correction. Flat corrections consist of 3(A) 3(B) 5(C) subwaves. We are currently in wave C = 5 subwaves. We are anticipating one final move down to complete wave C. Trade Idea: - Enter on break of trendline or signs of reversal - stops above blue structure or above price once entry trendline breaks -...
The EURNOK pair has topped on the long-term having made a Cycle peak on the week of May 29 2023. So far however, the 1W MA50 (blue trend-line) has (nearly) held twice as Support, but both rebounds failed to cross above the 0.618 Fibonacci level. This price action is very similar to the previous Cycle peak of March 2020, leading to a 1W MA50 rebound that again...
Commentary EUR/NOK multi-week higher tops and higher bottoms on price indicate a dow pattern uptrend; provided price can hold above the 10.9 key support the potential for a continuation of the prevailing uptrend remains for a move towards 11.05 in the short term (5-13 days), otherwise if price fails to hold above the 10.9 key support then scope for a price...
Bouncing off supply zone ..waiting for breaking the trend lines for short trade up to the next demand zone ..waiting for confirmation using smaller time frames.
EURNOK price closed above 10.13905. Watch for a bullish price action signal to go long.
seems like we arrived at the bottom of the channel we will form another channel to the downside or we will maintain the same PA? I will go with the first way considering the position in which $eur is right now
EURNOK is now testing a daily support over an ascending trendline. According to plancton's strategy, if the market will break below, we can set a nice short order. ––––– Follow the Shrimp 🦐 Keep in mind. • 🟣 Purple structure -> Monthly structure. • 🔴 Red structure -> Weekly structure. • 🔵 Blue structure -> Daily structure. • 🟡 Yellow structure -> 4h...
AFTER massive open we are looking for this pair to stay long for the rest of the month we opened in the buy zone so lets see how this plays out
Pattern: Triangle on 1D. Signal: (A) Bullish if the Resistance breaks, (B) Bearish if the Support breaks. Target: (A) 11.800 (0.5 Fibonacci retracement level), (B) 10.000 (the Lower Support). ** Please support this idea with your likes and comments, it is the best way to keep it relevant and support me. **
At the opening of the market I'll be speculating price reaction as price makes its way into the triangle looking for Long Confirmations. Patience will play a big role in this pair as I expect price to take the majority of traders into an emotional rollercoaster, candle stick confirmation, Risk/Reward & Price Patterns will play a big role in this entry if reached.
EURNOK Short Direction: - Pair is in Bearish Order Flow and has Bearish Momentum on the H4 and Daily. - Pattern formed in the Bearish H4 OB (Order Block). Entry: - W (Double Top) Pattern Formation. - Divergence occurred. - RSI crossed volatility bands (Shark-fin), indicating a drop in the pair. - RSI near the 68 (exhaustion zone), indicating pair was...
According to my set of rules, this set up I am showing in my chart is a high probability setup. we have large bullish candles, meaning there is a lot of buying orders. I'm not 100% sure it gonna go up from that zone. no one does, this is a probability game. so use proper risk management, I recommend 1%. Also, this can go a lot higher than what I have placed witch...
EURNOK SELL ENTRY 10.1580 /// MODERATE 10% SL 10.17915 ( pips 221 ) TP 10.08605 ( pips 709 / RR 3.2 ) On 4H we have a solid contraction and we are pretty much at the top of it. RSI is at its highs too. On 1H we have a minor contraction supportin the sell idea with a decent rejection level. On the minute charts I see a reversal coming within this hour (in...
Quick analysis of the USDCAD Weekly shows we are in a neutral state attempting and respecting the ascending triangle. Let me know what you think
The pair is trading within a long term 1M Channel Up (RSI = 53.878, MACD = 0.135, ADX = 43.274, Highs/Lows = 0.0000) since Q4 of 2017. At the moment the price seems to have found Support around the 1D MA200 (orange line) and withi the 1D MACD making a bullish cross over, is expected to rise. According to a similar fractal in January 2018, the High of that spike...