Hi there. Price is forming a continuation pattern to the upside. Watch strong price action at the current price for buy.
Hi there. Price is at the top of the pattern (b wave) for one more down move (c wave). Watch strong price action at the current price for sell.
NOKJPY has been on a 4H Channel Up which according to its neutral RSI = 51.365 and Highs/Lows = 0.0000 has reached its Higher Low. This is a signal to go long. This Channel Up is identical to the previous sequence that made a 13.010 High. On 1D (MACD = 0.026, Highs/Lows = 0.0133, B/BP = 0.0028) the trend remains bullish as long as the 12.600 support holds. Our TP...
The pair is trading within a 1D Channel Down (RSI = 44.336, MACD = -0.054, B/BP = -0.047) and it has recently priced its Lower High (Highs/Lows = 0.0000). The downside potential for a Lower Low is strong but attention is need as it may be limited by the existence of the 1W support at 12.9720. We are therefore selling for limited profit with TP = 13.1060 (previous...
NOKJPY pair is now in daily- weekly strong support zone, there is a high possibility of price reversal at this area.
TP = 13.4897 hit as NOKJPY hit the former Rectangle's 13.3513 support and even broke it to test the 1W support = 13.000. A strong rebound has followed that will either peak at 13.700 (if 1W is a Channel Down, MACD = -0.114, B/BP = -0.1600) or at the 13.8900 Resistance (if 1W honors the previous Rectangle sideways, RSI = 49.542, Highs/Lows = 0). After either of...
As long as the 50 EMA on the 8 hour chart continues to act as resistence, we can expect NOK/JPY to fall. It was not able to find support on top of it and thus, it may reverse back down after these few days of consolidation. A pending order could be placed right underneaght the lows, that is at 13.2, so that you may enter right when the break down happens.
its on a very oversold position now on weekly. I enter this because of the possibility of expected hike on september from Norges Bank.
NOKJPY is trading within a monthly Rectangle (RSI = 51.832, ADX = 21.125, CCI = 20.9692, Highs/Lows = 0) since early February (13.3500 - 13.900). Since July 10th it has been rejected 3 times on the Resistance so a short has been added, TP = 13.4897.
Same as USD/JPY and some other xyz/jpy pairs, NOK/JPY is looking forward to lose more. No support has been found yet and so we can long term short for now and ride the trend downwards. Happy trading!
We have a nice pair opportunity (and perhaps a great *USD trade) in the NOK crosses. NOK shows excellent relative strength, and has a lot of catching up to do with the Yen, which makes it ideal to long NOKJPY or long NOKUSD and short JPYUSD, risking 1 weekly/monthly ATR per side. The NOKUSD trade is to long at market or on dips, and risk a drop under today's open,...
When markets are uncertain and major pairs and ordinary crosses are hard to trade due to whatever cloud that hangs over them - it is time to look elsewhere for trades for a while. This is one example. NOKJPY has spiked down to make a multi-year-low, but the structure you see on the chart is fighting back. If you trade based upon trend lines you see that there...