The exchange rate could successfully complete wave motion and transform into a fractal structure. Why is it important ? Because fractal structures are capable of moving longer and faster. Fractals can move up to 1,2,4,8 in geometric sequences, but may also move in the Fibonacci sequence. They are characterized by strong dynamic acceleration. However, with wave sequences, they are much more tied because the particular wave axis determines the angle of their rise. But back to the figure. The blue arrows indicate the fractal's beginnings. The parallel blue distance distance above the arrows indicates the distance of a given ATR of movement. This is very important. From this it can be seen that the share with double-digit exchange rates can double distances. It follows that the exchange rate is currently in a 2x FRACTAL. The rising fractal wave sequence is supported by a D1 ATR axis (purple line). The motion target price is 6.8 usd.
Comment:
The NOG exchange rate reached the correction level. However, I would not go into a short position, hane waiting for the end of the correction and adding another long position.