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Technician

USDNOK: Short Term Sell Setup

Short
U.S. Dollar/Norwegian Krone (FX:USDNOK)  
Technician Updated   
FX:USDNOK   U.S. Dollar/Norwegian Krone
Trend Lines AB=CD Oscillators
46
7
trendline abcdpattern oscillator
  • Retesting prior broken trend line
  • Retesting short term falling trend line
  • ABCD completed at 1.271 extension
  • Stochastic overbought
  • Shooting star candle
  • Earlier longer term setup here
Comment:
USDNOK is not going on the expected direction so far.
snapshot

The price is testing the 1.618 extension level. Also the descending resistance of the falling channel on the weekly
snapshot

So i am holding to the short for now, i will close it if we break this resistance area and close the WEEK above it.
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