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USDNOK

USDNOK looking up 🦐USDNOK after the double bottom over the support has moved to the upside over an ascending trandline. The price has now reached a daily resistance and according to Plancton's strategy if the market will break above we will set a nice long order. ––––– Follow the Shrimp 🦐 Keep in mind. 🟣 Purple structure -> Monthly structure. 🔴 Red structure -> Weekly structure. 🔵 Blue structure -> Daily structure. 🟡 Yellow structure -> 4h structure. ⚫️ Black structure -> <4h structure. Here is the Plancton0618 technical analysis , please comment below if you have any question. The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
Long
by InkyGrip
USDNOK – bearish continuation …31 May, 2021There is a history of ranging before breaking down in this pair. See how it was ranging between 8.6450 and 8.3800 for several weeks before it broke below. Now we have something similar and despite multiple attempts during the past 6 weeks, this pair has been unable to close above 8.3800. This pair has clearly been on a strong bearish trend since Nov. and I don’t have any reason to think that this will change any time soon. I am looking to find an entry at/close to 8.3800 with my stop above the recent high. My target will be above the next s/r level located at 8.1800. If this plays out the way I am anticipating, this could be a nice +2.50R opportunity. As always, watching the price action on a lower time frame before committing to a trade is advisable. If you like my analysis, please give it a “thumbs up” and follow me to get immediate notifications. Always use sound money and risk management in all your trades.
Short
by Trading_Vista
Elliott Wave View: USDNOK Rally Should Find SellersShort Term Elliott Wave structure for USDNOK suggests the decline from March 24, 2021 high is unfolding as a 5 waves impulse Elliott Wave structure. Down from March 24 high, wave (1) ended at 8.149 and bounce in wave (2) ended at 8.369. The 45 minutes chart below shows the wave (2) bounce and pair resumes lower from there in wave (3). Pair still needs to break below April 29 low at 8.144 to rule out a double correction in wave (2). Down from wave (2), wave ((i)) ended at 8.291 and bounce in wave ((ii)) ended at 8.3144. Pair resumed lower in wave ((iii)) towards 8.195, wave ((iv)) ended at 8.221 and wave ((v)) ended at 8.186. This also completed wave 1 of (3) in higher degree. Bounce in wave 2 is now in progress to correct cycle from May 6, 2021 high (8.369) as a zigzag Elliott Wave structure before pair resumes lower. Potential target higher in wave ((c)) of 2 is 100% - 123.6% Fibonacci extension of wave ((a)) which comes at 8.32 - 8.342 area where sellers should appear for further downside or 3 waves pullback at least.
by Elliottwave-Forecast
Is this the end of the downtrend?Hi everyone I hope you are well All that can be seen in the chart is a decline, small corrections but it continues to decline again. The price has reached its lowest level since 2017. He passed all the support points on the way with force. But at the current price, we are witnessing the intersection of important support and resistance lines in the daily and weekly time at the price of 1.2131. If we have an ascending candlestick at this point in the daily time, the reverse hammer candlestick pattern is confirmed and it is time to enter the buy trades. If the price continues to fall, it will go to the range of 1.2000 to 1.1900. 📣 Attention 📣 ⚠️ 1. We publish this trading idea to help analysts, so if you have an idea that you think is right, do not be influenced by this idea. ⚠️ 2. All our analysis and signals are provided free of charge, so we have no obligation to make any profit or loss on our signals and analysis. ⚠️ 3. If you have an idea, write to us in the comments section, we will be happy to use your idea in our analysis.
by fx_iranian_traders
2
USD/NOK: PRICE ACTION + BEARISH HARMONIC GARTLEY 🔔Welcome back Traders, Investors and Community! Analysis of #USDNOK If you have found this useful then help us support my page by hitting the LIKE button. If you are not subscribed yet then please feel free to follow my page for daily updates and ideas. Thank you It means a lot to us! *** Strategy: Bearish Gartley on H4 timeframe - We will be waiting for all the confirmations to enter in this trade. A clear chart is Always the best business card for a trader. *** Your support and feedback will always welcome Thank you for your time. The information contained herein is not intended to be a source of advice or credit analysis Regards, Walter
Short
by FOREXN1
8
USDNOK,USDPLN & AUDJPY correlation trade on D1 ChartGREETINGS This articles will be a follow up piece to the educational article I did on correlation trades in the forex market. Check out my article on CORRELATION-DIVERSIFYING-HEDGING-An-elementary-view Now in a previous article that I wrote I had strongly suggested that the AUDJPY had reached a key level of resistance on the daily and weekly chart and was suggesting a possible short sell. Interestingly this was about 2 weeks ago and the price action hasn't really come down at the magnitude expected, except for today (21/12/2020). As I concluded the previous article I promised to explore the idea of how correlated pairs can be used to confirm break outs and avoid fake outs, and this is what we are going to do with the above currency pairs. To start of we shall consider that pair that I had last made an analysis on, which was the AUD/JPY. This pair I had concluded had reached a crucial resistance level and therefore was ready for a sell. I realised at the time that currency pairs do not move in isolation so to avoid the risk associated with putting all my eggs in one "trade", I sought negatively correlated pairs to place a trade and potentially double up my profits while giving me the comfort of a diversified portfolio. I came across 2 pairs which had a -98% negative correlation and these pairs were the USD/NOK and USD/PLN. So how we use such correlated pairs to confirm a break out and not a fake out is to closely monitor both pairs when there is a sudden move in the opposite direction by one pair, you observe the other to see if there is a corresponding move. This I learnt the hard way last week as the prevailing trend on the AUD/JPY was somewhat bullish, whenever it would reverse I would quickly look to put an opposing entry on the USD/NOK. I would not wait for the confirmation on that pair and guess what the USD/NOK would rally further down. this showed that the reversal on the bullish AUD/JPY was a fake out. Sure enough the AUD/JPY would go back up. Now that both pairs seems to be correlating perfectly I think it might be an opportunity here. I have attached the chart which shows how these pairs look like a mirror image. Now I will be looking for long positions "only when price action confirms". This confirmation will be in the form of a pin bar or bullish engulfing candle on the daily (D!) chart. So possible a buy stop or just put an alert at the open of the last bearish candle. My outlook My outlook for the USD/NOK and USD?PLN is to go long This view is long term and could possibly look beyond Jan 2021 My possible entries could be: USD/NOK Buy Stop 8.7416 Take Profit around 9.1400 and maybe let it run to 9.51 USD/PLN Buy Stop 3.72 Take Profit around 3.88 As I said this could go beyond Jan 2021 Takunda Mudenge is a market analyst based in Zimbabwe, Africa. He writes in his personal capacity for educational and entertainment purposes. This should not be construed, assumed or viewed as investment advise. Please consul a professional for such.
Long
by takundamudenge
ridethepig | NOK for the Yearly Close📌 NOK for the Yearly Close Now comes the traditional complex NOK and SEK map complex. I have mentioned a number of times SEK was in a very good position for sellers, now NOK is joining the disco because it is unlikely that dollar can manage to force the defence. A very amusing chart, for those with a background in waves we are playing the breakdown on a 5 wave multi-decade flow ending. Here we are dealing with a remarkable position for sellers, a staggering -12% downside to go to the nearest support ....meaning the manoeuvre is intended to put pressure on our opponent as one might suppose with capitulation. Invalidation can be defined above the latent outside reversal. Thanks as usual for keeping the feedback coming 👍 or 👎
Short
by ridethepig
ridethepig | SEK for the Yearly Close📌 SEK for the Yearly Close In general the following flows are working flawlessly, sellers have recaptured the control and are bringing about a lot of pressure on the main macro targets issued at the beginning of 2020. One indication of the weakness is clearly the USD devaluation, and is represented by the attacking side rushing to SEK. Introducing some layers to time for this just as an example for reference points using Gann, it is strategically interesting to see Feb 2022 as it is also a panic cycle in the dollar according to my models. The buyers are hanging by a thread, they are having trouble trying to pay their debts and will have to convince the creditors. At the point when this was made, Fed was seen as a deer in the headlights via Covid capitulation / flip flop and, with what immense trouble they will have now in achieving credibility after funding the Whitehouse policies in broad daylight!! Watch for the lows next week, its not quite so easy for buyers to dispose of the momentum here: if this happens we may enter into waterfall mode. Thanks as usual for keeping the feedback coming 👍 or 👎
Short
by ridethepig
1
USDNOK READY FOR LAUNCH!Hello traders, I hope you are all doing great! The last week finished in deep green territory for us (The Greek Trader community) above 500 pips profit and we are doing the same on this one! The trade set up we are looking on is the USDNOK and let us tell you what our analysis is showing us: Technical Observations 1.We have price reaching a daily-weekly and a monthly zone at 8.78-8.80 level. 2.It's a psychological round number! 3.We have with bullish MACD divergence. 4.We have a double top pattern in the daily timeframe and we have reached the targets of the extensions. 5.We have a Fib extension of 2.618 from the last pullback. 6.We have also 5 waves completed on the 4Hour timeframe. Possible long Trade ENTRY at 8.8110 STOP LOSS at 8.7658 TP at 8.99340-9.0 LEVEL RISK/REWARD 4.03 THANK YOU ALL FOR SUPPORT!! KEEP FOLLOWING AND SUPPORTING MEANS A LOT TO OUR ME! Happy profits everyone!! THE GREEK TRADER
Long
by The_Greek_Trader