Enter at 8.24016. SL and TP based on structural levels and Fibonacci levels.
Very strong symmetrical triangle formation. 6 hit points getting closer and closer as the market approaches the apex - good sign for a strong breakout. By the upside, sell the downside. Profit targets indicated by the horizontal green lines.
Will be looking to enter a short position at 8.84658 if the cypher pattern holds up. Stop loss is based on previous structure as indicated by the red line. Take profit is based on Fibonacci levels. Unfortunately the risk/reward isn't the best I've ever seen, but I will still be looking to take this trade. Fundamentals Aren't any particularly...
I opened this trade at the break but forgot to post - still time to profit. Excellent structure to create profit targets and to support the break from the wedge.
EURNOK has a possible HS-formation. Only a break and close below 8.40 will confirm this possible trade-idea. Resistance is around 8.50. Objective pricetarget if we get a break of 8.40 will be 8.15, while a stop loss should be executed if we close above 8.50. Furthermore, we are currently testing the positive trend since last bottom at 8.10 (4H chart). Will be...
Hello Traders as someone can know i am from Norway and sometimes i am not only looking at Forex but some trades wich i can add to my personal portfolio. Norway index is not in good shape at this time. What i think about it you can read up on chart. Have a nice trading ;)
Norway's GDP readings have come in better than expected. Y/Y @ 3.9% and Q/Q @ 0.3% up from 1.1% and -0.2% respectively and both beating estimates. On H4 charts, the retracement to 5.96074 looks like a prime target to short from targeting 5.83130 (for now). Alternatively, wait for the resistance to be confirmed at 5.96 and sell at the most recent lows in the run up.
Update from the previous chart for USDNOK, we see three patterns confirming the target of 5.83530, Risks: 20/05: Norway GDP release forecast 1.34%. Prev 1.1% y/y | forecast 1.52%. Prev -0.2% q/q 22/05: Unemployment rate. Its been stable at 3.5%, so any downside reading could pose some threats to this trade.