USDNOK symmetric triangle: trade a break
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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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.