USDNOK symmetric triangle: trade a break
Updated
Trading opportunities from a symmetric triangle, providing us with the opportunity to trade a break below or above the resistance/support.
My opinion: Further downward pressure on oil will cause the USD to strengthen against NOK (Norwegian Krone) due to Norway's economic dependancy on oil prices. This will cause a break above the triangle and hopefully a profit target to be reached.
Profit targets are green lines.
My opinion: Further downward pressure on oil will cause the USD to strengthen against NOK (Norwegian Krone) due to Norway's economic dependancy on oil prices. This will cause a break above the triangle and hopefully a profit target to be reached.
Profit targets are green lines.
Trade active
ShortTrade closed: target reached
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