USDNOK is strong and is maintaining its strong uptrend. Looking for a test of demand level from november after struggling through the bottom of the range above.
This trade has happened with the main entry. This idea is to project the possible fall in Natural Gas due to the fib retracement that guides an extension to a confluence in price with fib extension and price action level. 3.350 area will be an interesting target for short and a possible reversal for the instrument.
For those not with on the main entry, there...
The USDNOK having a huge climb the last week. This kind of price action I do not find to be sustainable over time. I trade pure price action and all other technical indicators is only factors I use for supporting my zones. The aggressive rise in price is going to come to a level that has confluence with a fib extension price target that makes the setup lower risk...