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Krone

Trade Like A Sniper - Episode 44 - EURNOK - (17th June 2024)This video is part of a video series where I backtest a specific asset using the TradingView Replay function, and perform a top-down analysis using ICT's Concepts in order to frame ONE high-probability setup. I choose a random point of time to replay, and begin to work my way down the timeframes. Trading like a sniper is not about entries with no drawdown. It is about careful planning, discipline, and taking your shot at the right time in the best of conditions. A couple of things to note: - I cannot see news events. - I cannot change timeframes without affecting my bias due to higher-timeframe candles revealing its entire range. - I cannot go to a very low timeframe due to the limit in amount of replayed candlesticks In this session I will be analyzing EURNOK, starting from the 3-Month chart. If you want to learn more, check out my TradingView profile.
Education
by Road_2_Funded
USDNOK Channeling Towards 9.35Trend Analysis The main view of this trade idea is on the 2-Hr Chart. There appears to be an upward trend channel developing for USDNOK. Higher lows are observed around the 8.63 and 8.76 price levels. Higher highs are seen around the 9.00 and 9.10 price levels. Expectations for the fx cross to continue higher in the trend channel, taking USDNOK towards 9.35. A breakdown in the rally of USDNOK will be observed if the fx cross falls below 8.80. On the longer term timeframe, if USDNOK breaks above the resistance of the upward trend level, the fx cross can rally towards 9.80. Technical Indicators The technical indicators are pointing out that USDNOK will rally over the next couple of months. USDNOK is above its long-term Moving Average (440-MA) and is in a bullish mode for the Supertrend Indicator. The Supertrend is also producing higher lows and higher highs, similar to the upward trend channel. The Awesome Oscillator (AO) is above 0 and green and the RSI is above the 50 level. Recommendation The recommendation will be to go long at market, with a stop loss at 8.80 and a target of 9.35. This produces a risk/reward ratio of 1.60. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes.
Long
by Ceddy86
USDNOK Found Support at 8.7 and Long Target at 8.9Trend Analysis The main view of this trade idea is on the 2-Hour. The fx cross USDNOK appears to have found support around the 8.7 price level, as the countertrend move in the currency appears to have ended. This produces an opportunity to go long USDNOK with initial resistance observed around 8.9, which can be an initial target for the fx cross. Technical Indicators The premise is based on the RSI emerging from oversold levels and currently near the 50 level at the time of publishing. Also, there is a positive crossover on the KST. Despite the fx cross being below its medium-term MA (75-SMA), USDNOK is above its fractal MA and testing its short-term MA (25-SMA). Recommendation The recommendation will be to go long at market. Stop loss will be set around the 8.7 price level and a target of 8.9. This produces a risk-reward ratio of 1.3. Disclaimer The views expressed are mine and do not represent the views of my employers and business partners. Persons acting on these recommendations are doing so at their own risk. These recommendations are not a solicitation to buy or to sell but are for purely discussion purposes. At the time publishing, I have a position in USDNOK.
Long
by Ceddy86
USD/NOK 1H Chart: Pair returns to senior channelStrong upside momentum has driven the USD/NOK exchange rate since late March. The pair had appreciated 8.60% until it peaked near the 8.32 mark on Tuesday. It likewise breached the prevailing one-year channel on the same day. As a result, the US Dollar shot up to the 8.32 level and subsequently fell back to the breached senior channel. During the past few weeks, the pair has been trading in a rising wedge pattern. It is expected that the pair remains trading in this pattern and thus edges lower within the following sessions. The pair is likely to find strong support at its bottom boundary which is reinforced by the weekly PP, the 200-hour SMA and the monthly R1 at 8.10. Meanwhile, the pair’s overall direction within the following two weeks should be towards its ten-month high near 8.45.
Short
by UnknownUnicorn890690
USD/NOK - Great Opportunity To Go SHORT!Not a pair that I trade very often, but I couldn't resist to check it out anyway.. As you can see this pair is currently sitting at the 61.80% fib level on the daily chart and the next candle that farm is a very bearish hammer which is a really go signal for a potential short. BUT then again I would still keep an eye for a pontetial swing to the 78.60% before it drops, I highly doubt it but I would hate to be wrong at the same time. Best bet would be to wait for a confirmation to form before getting in. Take profit areas are some very respected resistance/support areas.
Short
by erkggz
NOK'D DOWNCurrent levels of EUR/NOK could offer interesting selling opportunities. NOK should outperform EUR in the coming weeks and months on the back of growing policy divergence between the Norges Bank’s policy outlook and the ECB’s, which is reflected in an increasingly negative 2Y EUR-NOK rate spread. The divergence could intensify as both banks start to cautiously normalise their policies. Investors may continue to see NOK as a higher beta proxy for the EUR, as NOK tends to outperform when the EUR is supported. EUR/NOK could see 9.40 by the middle of the year. However, depending on incoming data, an undershoot cannot be excluded. Credit to Credit Agricole Investment Bank
Short
by itzbert