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GBPNOK is trading within a long term 1W Channel Down and has just made a Lower High. With 1M neutral on RSI = 51.074, CCI = 29.2202 and Highs/Lows = 0.0000, the price is on the most optimal levels to short on the long run. TP = 10.56170 & 10.4500 in extension.
The price just pulleb back on a daily trendline.
I target 11.05 and 11.15
I see GBP pairs bullish at the moment.
Have a nice day,
GBPNOK reversed at 1.618. See my previous post about the GBPNOK analysis.
Take Profit at 1.618 at D Point
Enter at C Point at 0.618
I am anticipating GBPNOK price to reverse near the 10.58673 price level.
GBPNOK has broken out of the bearish channel, at this point, a lower degree correction is good reason to buy.
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.
#GBPNOK Trend Flama
The buy zone is between the the green and red lines. It's recommended to limit buy close to the green line, in order to guarantee the position. The red line is about 250 pips below the green line, and acts as the stop-loss level. There is no target price yet. This trade will be monitored once every evening. If there is no update, it means the trade is still ...
I think I see an inverted H&S pattern, will play it while keeping an eye for a reversal for the bigger downward trend that is on the horizon finally.
trade with care
Trade with care
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.
GBPNOK has broken out and just retested the trendline with today's candle. It is a Good opportunity to short if you can handle the risk.. This is overall just an analysis rather than a trade because it is not worth taking..