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.
Overall Average Signal from all our indicators suggests a Short. Entry is at market open and exit is shortly before market close or whenever you are okay with profits. You should be careful with this one.
Nokia Corporation - Short Term - We look to Sell at 5.31 (stop at 5.54)
We look to sell rallies. Previous support at 5.30 now becomes resistance. 50 1day EMA is at 5.44. There is scope for mild buying at the open but gains should be limited. Further downside is expected although we prefer to set shorts at our bespoke resistance levels at 5.30, resulting in...
Nokia Corporation - Short Term - We look to Sell a break of 5.24 (stop at 5.45)
A move through bespoke support at 5.40 and we look for extended losses. Our overall sentiment remains bearish looking for lower levels. A lack of clear direction has formed a channel on the intraday chart that has a mild bias to break lower. We look for gains to be extended today....
Nokia Corporation - Short Term - We look to Buy at 5.33 (stop at 5.16)
We look to buy dips. Trading within a Bullish Channel formation. A higher correction is expected. Previous support located at 5.40. We expect this move higher to continue and look to set longs in early trade using previous lows as a stop.
Our profit targets will be 5.76 and 5.95
...
Started last January with the massive Wallstreetbets spike. We made a cup from Jan - Aug. And then since August to December we made the handle. It is a cup and handle pattern one year in the making. Based on the fibs if we continue going up maybe 6.80 is the next resistance for the price. But overall still undervalued and is a good entry point currently.
Opportunity to go LONG on Nokia (NOK) stock.
Like and Comment will be hugely appreciated, thank you so much for your support.
See other ideas below too!
RISK DISCLAIMER:
Trading Futures ,Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future...
Technical Analysis:
Potential Double Bottom located. RSI oversold on 4 hour. Mac D oversold as well. Although we have a strong bullish candle, momentum color change hasn't kicked in yet on Mac D. Only looking for a retracement. Not a home run. I would like to see price reach 61.80% of the previous high. Let's see what happens!
Fundamental Analysis:
Business...
Norway's central bank raised its benchmark interest rate on Thursday as widely expected, and said more hikes were likely next year although that would depend on the impact of a surge in coronavirus infections and the emergence of the Omicron variant.
Norges Bank's monetary policy committee raised the sight deposit rate to 0.50% from 0.25%, its second hike in...
The chart looks really good, the buyer has strength on the upside and is not loosing it inside the range. The seller however, looses his strength with every touch of the top of the range. Right now the price is good and it is making a mini range on the 1H chart. If this range holds, there could be a possibility for a long continuation after the upcomming GBP...
FX:EURNOK
The blue and red lines mean: I think prices can return in these areas.
Green lines mean: I think the price can reach these areas. They are therefore known as transaction targets.
If you want to use this deal, please risk only one percent of your account balance.
USDNOK is strongly anti-correlated to the prices of oil. Although the US imports most of its oil from Canada, some of the oil producers there are owned by a Norwegian company. Then, the prices are moving globally with oil being one of the most traded commodities.
Last time they USDNOK and USOIL both hit a psychological resistance, both reversed at the same time....
USDNOK Exponential Moving Averages, Trend Lines, and Pin Bars In An Up Trend. Entry at the closing price of pin bars and rejection candlesticks.
REPLAY
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
Many of our setups for this week on USD pairs are leaning more towards a bullish bias. As you can see on USDNOK, if you drew a Fibonacci from low to high off the daily time frame, you can see that price closed right around the 50.0 entry level of the Fib last week, so if you take this idea, feel free to set your stop loss level and expect to take profit around 9.6932 .
