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.
In all likelihood given the current FA Brexit is doomed to fail in parliament. Meanwhile Oil has been given a resurgence with Russia and Saudi's pledging to cut production. Qatar has pulled out of OPEC chasing LNG. Perfect trade for that scenario.
Technicality's: Price below Cloud, tenkan below Kijun, Chikou is below the price, Future cloud red, Price not far...
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.