Hello, traders. In this chart GbpNok we are focusing on impulse to the upside, as we sen the price is moving down not impulsive. Look for a strong breakout to the upside, and get in after a correction on smaller time frame.
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The pair is trading inside a 1D Channel Up (RSI = 51.618, STOCH = 45.324, MACD = 0.059) and has just made a Higher Low. We are expecting a rise towards a Higher High next. TP = 11.6200.
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Strong resistance in the area of 11.25 - 11.26.
In the whole year 2018 he had not touched that resistance, and he is doing it now, at the end of January.
That level had touched him in May and December of 2017.
We believe that it is a very strong resistance and that everything leads to a rebound.
In minor temporalities, 4 hours, 2 hours and 1 hour...
The price is trading inside a 1D Channel Up, which has recently priced its Higher Low (RSI = 54.649, MACD = 0.000, Highs/Lows = 0.0111). We are expecting a Higher High now, hence we are long with TP = 11.200. In case the price reverses to test the support we will open an additional long at 10.800.
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I am reviewing this trade-setup. This is not in my trade plan. This is not a parallel channel. I am reviewing this trade-setup. I took curve fitting to a different level on this one. Clearly, this is not a technical pattern (Channel).
This what happens being in front of a chart screen too long late at night and drinking Christmas Beverages.