Those are the situations where the pros separate themselves from the amateurs.
The amateurs can't wait to get into a trade because:
1. They don't want to miss the short
2. They want to be first to make more money
3. It already "feels" like it will drop
The professionals wait for the actual confirmation and a close with momentum that would signal a new low....
USDNOK is showing signs of a sell. We see that it is at a monthly resistance. Rsi is showing signs of it being overbought. We have bullish rejection pins all over the 1 hour and 4 hour. Trade the break out. set your buy order and sell oders based on the 1 hour chart.
In this video update, we take a look at USDNOK as price sits at a key supply zone.
The USD Index highlights the potential weakness to come in the USD and with
Crude oil prices stabilising after the recent inventories we could see this market
trade within the range. Technically the daily candle is showing a false breakout.
The 4hr timeframe also shows price forming...
Hello USD/NOK giving usd clear bearish AB=CD pattern which is confirmed by two harmonic calculations. It is projection AB ending around 0.786 fib and BC projection 1.618.
We have multiple rejection to push price above 8.78 area but be aware price can pump and immediately drop.
Target should be brown boxes at the chart.
Price completed a bearish BAT pattern and a Rising Wedge. From the left structure we can see the possibility for a triple top.
Pay attention to the blue zone at is might be a key level. After it is broken we could see the price to accelerate to the downside again.
USDNOK affected by oil reactions over the last few weeks - forming a wedge pattern as a result that could see a break to the downside. Contributing to the fact of a strong #Dollar, in addition to #Oil bullish prices. #huracanfx
A push to the downside as #Daily Resistance confirms our trade additionally as a third possible touch around 8.82000 as price hovers...