The Norwegian Krone has been outperforming over the course of the past week, with yesterdays inflation reading bringing greater pressure on the Norges bank to raise rates further. Scope Market Chief Market Analyst Joshua Mahony looks at CADNOK as an interesting opportunity after a six-month period of strength. The divergence between Canadian and Norwegian...
I've spotted late this alternate ABCD pattern. Alternates are any pattern where AB=CD. There are the standard ABCD patterns that are well known.
I'm exploring and learning from alternates to see what degree of corrections to expect. This set up is therefore observational only.
CADNOK has make some interesting trend switches, that may afford trading opportunities.
I explore the probabilities.
This is not a recommendation to trade. Your losses are your own.
I show a rare trend switch on CADNOK for the south on the daily time frame. This usually means business. CADNOK is a very violent pair to trade but potentially one that can deliver. Wide stops and big account sizes are needed.
