Top and Bottom Analysis on USDNOK by ThinkingAntsOk
Use this as a guide to develop your own setup
Main items we see on the 4hs Chart:
a)Price Surpass the Maximum Historical zone and the re-enter to the previous levels (bearish Signal)
b)Currently, we can see a Consolidation Structure, this kind of structures can be considered as continuation patterns
c)We can see an interesting downside potential towards the Daily Ascending Channel
d)If you are planning on taking a trade on this setup, consider opening positions on the breakout of the Corrective Structure
e)You can Break Even on the First Support Zone
d)Consider the Daily ascending trendline as Target
Weekly Vision:
Daily Vision:
Main items we see on the 4hs Chart:
a)Price Surpass the Maximum Historical zone and the re-enter to the previous levels (bearish Signal)
b)Currently, we can see a Consolidation Structure, this kind of structures can be considered as continuation patterns
c)We can see an interesting downside potential towards the Daily Ascending Channel
d)If you are planning on taking a trade on this setup, consider opening positions on the breakout of the Corrective Structure
e)You can Break Even on the First Support Zone
d)Consider the Daily ascending trendline as Target
Weekly Vision:
Daily Vision: