GBPNOK - Price rejection and trading below the channelHello Trader
Good for sell. GBP weakness driving this pair south.
Thanks
GBPNOK trade ideas
Potential Long NOK/GBP (Wait for breakout confirmation)1) Russia and Saudi agreed to freeze production resulting in short term Increase in oil prices.
2) Hovering at major resistance around 0.081103
3) Downtrend lost its momentum. Uptrend or Consolidation taking over with potential of another upwave
Suggested trade setup:
1) Long when prices break above 0.081103 or enter around 0.81550
2) Take profits near green resistance lines (0.086542/0.087405/0.087788/0.089801) or Fibo at 23.6% (0.85121)
3) Maximum Stop Loss around 0.074945
GBPNOK: Shorts To Come Into This Pair, Lots To Consider #ForexTraders, an update here.
Noticed a lot off this chart, and I think we are part of the bigger picture (I think we are in a cyclic move and we could see a significant downside correction soon.
I have noted many technical instances that support my fundamental outlook, naturally.
Notice a Gartley pattern setting up at the moment, a short to the PRZ of that Gartley which is perfectly aligned with the 200MA is a great safe, and practical target. And we should be taking profits, near, or at this area. Saying this, I think shorting will eventually continue past this pattern, and I think this pair will soon become a enforced downtrend. Which is where I'm hoping to have my capital when the time comes.
For now, this is a small move, but for the future this will become something entirely different, and I will be looking to short for the long term into what I feel is a longer term down trend correction.
Best of luck
Tom
NOTE: Interested in personalized online or face to face trading tuition? Message me here on trading view or email me with the email address provided on my Trading view page, to take advantage of Christmas discounts.
Thank you,
Tom
Update status
GBPNOK: SHORTS TO COME INTO THIS PAIR, LOTS TO CONSIDER #FOREXTraders
Noticed a lot off this chart, and I think we are part of the bigger picture (I think we are in a cyclic move and we could see a significant downside correction soon.
I have noted many technical instances that support my fundamental outlook, naturally.
Notice a Gartley pattern setting up at the moment, a short to the PRZ of that Gartley which is perfectly aligned with the 200MA is a great safe, and practical target. And we should be taking profits, near, or at this area. Saying this, I think shorting will eventually continue past this pattern, and I think this pair will soon become a enforced downtrend. Which is where I'm hoping to have my capital when the time comes.
For now, this is a small move, but for the future this will become something entirely different, and I will be looking to short for the long term into what I feel is a longer term down trend correction.
Best of luck
Tom
NOTE: Interested in personalized online or face to face trading tuition? Message me here on trading view or email me with the email address provided on my Trading view page, to take advantage of Christmas discounts.
Thank you,
Tom
GBPNOK: Shorts To Come Into This Pair, Lots To Consider #ForexTraders
Noticed a lot off this chart, and I think we are part of the bigger picture (I think we are in a cyclic move and we could see a significant downside correction soon.
I have noted many technical instances that support my fundamental outlook, naturally.
Notice a Gartley pattern setting up at the moment, a short to the PRZ of that Gartley which is perfectly aligned with the 200MA is a great safe, and practical target. And we should be taking profits, near, or at this area. Saying this, I think shorting will eventually continue past this pattern, and I think this pair will soon become a enforced downtrend. Which is where I'm hoping to have my capital when the time comes.
For now, this is a small move, but for the future this will become something entirely different, and I will be looking to short for the long term into what I feel is a longer term down trend correction.
Best of luck
Tom
NOTE: Interested in personalized online or face to face trading tuition? Message me here on trading view or email me with the email address provided on my Trading view page, to take advantage of Christmas discounts.
Thank you,
Tom
