TP = 10.5800 as the 1D Channel Down on GBPNOK marginally crossed the previous Lower Low. As you see it is now limited to the resisting line, making repetitive Lower Highs under this mark, hence the neutral RSI = 52.471, Highs/Lows = 0.0000. We have place a new short now with TP again = 10.5800 and if crossed extension to 10.5000.
The previous TP = 10.68907 was hit and as expected the 1D Channel Down on GBPNOK (RSI = 41.174, ADX = 24.685) has continued lower on a more steady pace and controlled bands (MACD = -0.023, Highs/Lows = 0, B/BP = -0.0513). We continue to short, TP = 10.5800.
GBPNOK is on a 1D Channel Down (RSI = 43.982, MACD = -0.036, Highs/Lows = 0, B/BP = -0.0375), and was just rejected on the soft Resistance (blue dotted line). 10.68907 is a strong 1D, 1W support and this is our TP. If it breaks then then downtrend will continue.
A repeat of the 8.40 level test is highly possible now. The strong bounce to the upside after breaking the Sep'17 low during February and with a slow pullback is surely a welcome indicator for a reversal. I would like to see the price to break up strongly above 7.75 to initiate any long position trade. Please visit my website for other new ideas.
I am going to sell it before the break of the Double top botton, but it would be good to only sell it after the break. If you stick to my approach, I advise you that, if the price makes a return point at the botton of the Doubletop, buy it back and wait for the break. We are going to lower our stoploss at any touch of the down trend line.
Usually don't trade exotic pairs, but here I see a nice potential opportunity. Price is sitting on broken resistance now turned support, rejecting the 200 EMA & is in consolidation. Will be watching for a break back below or bounce back to the top of the range & potential breakout of the top for uptrend continuation. Lets observe how it plays out there is a good...
Daily candle analysis suggests that GBPNOK is ready to make a move lower. I will be accumulating short entries on the 15 minute time frame. 10 pip stops, 50 pip take profits for each entry.
Monthly candle analysis suggests that this market may move lower this month. This is due to how price behaved around the 5 EMA in July as well as economic uncertainty keeping GBP weak. This pair is now on my watch list for the month of August. I'll be watching the daily time frame for short signals. Once I get a signal on the daily, I'll move down to the 15...
Weak heads and shoulders pattern building and possibly going to be tested to the downside in the short term from further fundamental and technical weakness? 10.615 then 10.46 if it heads south. 10.864 support to the upside.
Good morning Traders! If the pair will develop our AB=CD pattern (bullish), we can try to take long position on pullback. Follow this analysis together with us! Thank you for your support and trade with care!
Technical: - The Pair has found resistance at the 61.8 Daily Fib (Price: 11.224) and slight support/testing the 38.2% Weekly Fib (Price: 10.989). o Looks like it will break that support. - Looking to open short after strong daily close under the 38.2 Fib and Enter a moderate Short o For active traders, Stack.1 will be a close below the 50.0% Daily Fib (Price:...
- Bearish Bollinger setup - Draghi speaking (refer to EUR/USD section)
FX_IDC:GBPNOK Fighting the previous Structure at this moment,check lower timeframe (blue line) Safe Trades
Below 10.20, it is suggested a short with final target at 9.60. Long term trend is downwards. In the short term, pair is moving upwards. At current level, it is appropriate not to take any position, since direction is not clear. Below 10.20, downtrend is again in place.