Accumulation at the bottom broke channel and sold a right shoulder pullback … with alternative bears bars late n the bear moves closing low is a failure and we can anticipate smart money will take the markets signal here n see a push up as a measure move at least with trailing target of 12.5 with a sl of the monthly low. That 30k pip target with 125sl.
I think that the EURNOK will go up significantly because of the confirmation pattern. After a few months, the pattern have broken and now the small confirmation pattern is forming. Thus, I have opened the long position on EURNOK
Looks like the EW motive wave will soon create a triple top, which will give as a nice opportunity to short this pair. So far it has been trading perfectly withing the trend channel.
The Blue box is the final target to the upside, before it begins it's way down into the red box.
EURNOK looks like it has a good setup for a short after a bearish engulfing candle has shown up on the weekly chart. It could be a very good Swing/Position trade. Be careful of swaps and spread on this exotic pair. Better enter the trade during the EU session.
Fundamentals are neutral. Euro currently a bit up from ECB turning hawkish but NOK is supported by high...
Bouncing off supply zone ..waiting for breaking the trend lines for short trade up to the next demand zone ..waiting for confirmation using smaller time frames.
