On the weekly we have a clear M formation - the neckline is the take profit. On the daily we kinda broke the structure - waiting for a retest On the 4h waiting a restest of : -38% fibonnaci -EMA -Structure -MACD going above 0
The pair chart pattern is looking great. It resembles a "falls bear flag" pattern and this usually indicates a sharp move higher from lows. Strategy BUY @ 11.18-11.2300 and place SL @ 11.0450 and take profit @ 11.4350.
The pair went much further than what I anticipated. However, even though rates are raised, market has carried away itself. Strategy BUY @ 11.2150-11.2600 and place SL below 11.0850 and take porofit @ 11.5575.
The pair has been extreme downside now, and it feels overdone. Stochastic very low, but negative still. Strategy BUY @ 11.3500-11.4000 and take profit @ 11.6150 and SL let's say below 11.1550.
Trade of opportunity with well defined failure point
EURNOK Down. Higher high but out of steam. Causing Divergence. 3x move.
Hi, Now we should wait to make our setup guys dont rush into this ... Gooooood Luuuuuck
Going into the end of the year, I believe this is a good trade. we are not at the 61.8 fib retracement and acting weak above the moving averages. First trade small and I will add even on the upside until I have a full position
The pair has room upwards, but its to near to objective expectation. The over all pattern suggest we move back towards 11.6000. Strategy SELL @ 11.9750-12.0200 and place SL @ 12.1200. Profit order @ 11.6550.
Simple and logical system. Good luck everyone, D
The pair had a very good run up, and the current pattern resembles a 'falls bull flag'. This suggests we may see a reasonable pullback, and the stochastic is on the high side as well, but still positive. Strategy SELL @ 11.8350-11.8650 and place SL @ 11.9150 (financial stop) and take profit @ 11.6550 for now.
The 13 EMA has Broken above the 5 EMA on the 4 Hour Time Frame The Fast MA on the Trade Development Index has already broken the 20 implying that the currency pair was over bought Fib Retracement confirms a target to the Short side Take Profit is Derived from Pivots
The EURNOK pair has topped on the long-term having made a Cycle peak on the week of May 29 2023. So far however, the 1W MA50 (blue trend-line) has (nearly) held twice as Support, but both rebounds failed to cross above the 0.618 Fibonacci level. This price action is very similar to the previous Cycle peak of March 2020, leading to a 1W MA50 rebound that again...
This is my bearish trend idea. However wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
Eurnok has seen some bearish signs over the past couple of weeks and it will continue in the same direction
Eurnok showing signs of a 6hr pull back on chart, over bought for now.
EURNOK was observed to be undergoing corrective move during downtrend on 1H timeframe. However it has been noticed to retrace from 38.2%fib and is likely to continue impulse move of downtrend. No divergence on RSI has been observed. An instant sell order has been placed on retracement from 38.2%fib ; SL and TP have been proportionately marked on chart.