captain_smollett

USDNOK. Incredible BAT pattern and over-extended Gartley

Short
FX_IDC:USDNOK   U.S. DOLLAR / NORWEGIAN KRONE
Chek out a mega-BAT pattern which have been developing for almost 15 years! It completed by December last year but there is still a piece of a downtrend which can be taken.

Will short from 8.21 or by market
SL: 8.42
TP: 7.44

Long based on an overextended Gartley:
Entry point: 7.45
SL: 7.25
TP1: 8.02
TP2: 8.40

TP3: 10.00 (not based on these patterns)
Comment:
Short-mid term updates on a chart below
Comment:
I really like this run from the USD: gives a perfect entry for further shorts. Just don't take your position yet, don't feed the Bulls!
Comment:
Looks like 8.30-8.40 box is where we can start building shorts
Comment:
Reached 8.50 which was important resistance in the past. I´d wait for a couple of days to see if a rally on DXY ends and, on the opposite, a rally on Oil and NatGas starts.

Then we can short this pair
Comment:
It has finally started to advance towards the target
Comment:

Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
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