GBPNOK 4HWe are at a key support line. I’d wait until we get a higher timeframe (4H) confirmation of a push up before taking a buy position.
GBPNOK trade ideas
GBPNOK!Watchout for that corrective upmove..
To trade that, check price action on lower timeframes..
Quantitative Trading Group GbpNok AnalysisGbpNok Sell @ 12.70154
Tp: 11.9904 Sl: 13.0684
4 hourly time frame
Our trading approach is solely based on a quantitative trading approach. We use a combination of momentum and reversal as part of the general strategy in quantitative finance to predict the net sellers and buyers in particular assets we trading. We are taking a sell on gbpnok on the H4 time frame as it has an accumulation of 5 net buyers with a quantitative power reversal commutative value of exactly 925.
It is, however, difficult to illustrate this on this platform as it is restricted to technical tools.
Possible Sell off on GBP and rise of NOKOil finally satelliting down there is a possibility of NOK rise and a great come back on the pair to it's normal state
Double bottomPrice is currently at a strong support level and show a double bottom trade opportunity with RSI divergence for extra confluence. Stops are placed one ATR bellow the lowest wick and targets are a re-test of last high.
Possible move for next monthGBP/NOK has a possible move for next month, Some support can be shown to oil and Brexit is slowly back on the table both GBP and EU can be volatile.
Reversal Target Since last targe is reachedSome of the targets have been reached we are aiming for the reversal targets.
GBP/NOKTime is very difficult for NOK as markets in Norway are not only facing problems with COVID-19 but are also facing Oil price war at the same time. Droping oil prices might bring major market shift from OPEC to Norway's Independent market. but as far as we are concerned NOK needs to come a little lower before it hit the higher levels. We did not see spike this high in NOK before so either use SL or Hedge to cancel trades.
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS.
waiting and watching I am pretty sure NOK is way over priced right now as Oil found some ground and NOK will be rebound soon
GBPNOK!Price is trapped within the channel, the next wave will be downside, big wave it will be problem is when...
Trade with care..Trading this aint easy, u need some experience with managing risk...
38.2% & POSSIBLE 61.8% Retracement LONG GWAVE38.2% & POSSIBLE 61.8% Retracement LONG GWAVE.
FIB Retracement Percentage is calculated in a Higher Cartesian and or Euclidean Dimension.
PLEASE ALWAYS WAIT FOR STOCHASTIC CONFIRMATION!!! THANKS.
GBPNOK SHORTPrice has broken out of the first triangle, second triangle not indicated in this case. Looking for a pull back into the green zone to go short. Over 2000 pips potential
GBP/NOK Cup & Handle Possible Cup & Handle, which is a very strong continuation pattern, so far price has failed to make a lower low and has found support at 11.5000, upon retesting the recent high it failed to break above resistance and pulled back to 11.9000 where there seems to be some support. If support at 11.9000 holds, we could see price make another attempt at breaking the high of 12.2000, a successful breakout would result in the completion of the Cup & Pattern. Therefore, a buy entry upon retesting the breakout would be justifiable.
GBPNOK - forceful move off of TD9 resistanceGBPNOK looks like it will continue up to the monthly target.
This chart is just for fun, trade at your own risk
GBPNOKFOREXCOM:GBPNOK
I will continue to post thought -out analysis.
1) The outcome candle (purple candle) liquidity grab on a retail pattern printed by smart money.
2)Outcome candle falls between the green zone (.786 - .886 Fib levels from the weekly bearish candle)
3)Take profits below a retail support level
4) 8:1 ratio trade
