USDNOK trade ideas
USDNOK approaching resistance, look out for potential reversal!
USDNOK is approaching its resistance at 9.13400 where it is could reverse down to its support at 9.04500.
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Losses can exceed the initial investment so please ensure you fully
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USDNOK Not Nice PairHello Traders,
We are just correcting the up move we made over the last couple of weeks.
I am expecting us to be inside a running ABC correction and when we finish it, we head back up. Expect a bounce on the 9.050 / 9.036 range before continuation back up to break the 9.25 zone.
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USDNOK bounced from support, potential for a further rise!
USDNOK bounced off 9.04500 where it could potentially rise further to 9.13400.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
(4h, USDNOK){4H, $USDNOK}
the general price movements is in an Ascending-triangle-pattern after price confirm the Support/Resistance-levels
{Previous Price Action}
last movements shown that the price break under the Support-level of the Mini-ascending-channel and made the first Lower-low after breaking the double-tops neckline while there's no signals of potential reversal.
{Current State}
price still undervalue while it's moving under the support-level of the Support-level of the channel and the high-selling pressure in the volume tells that there's possibility of more down movements that's why on the chart I chose to select the Lowest-point price reached with the highest point as "Invalid-rectangle-pattern" as long as the price hasn't confirm the lowest-point we can't confirm the pattern yet.
{The Plan}
we should first wait for the price to confirm the pattern then we can start looking for opportunity of potential breakout in order to go long and trade following the general price direction.
{Valid Pattern}
none. (Rectangle-pattern not confirmed yet)
{Alerts}
none. (no alerts until the pattern confirmed)
{HQ Chart}
i.ibb.co
{Original post} stocktwits.com
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Potential bearish reversal USDNOK, Long Usd Nok, with its on support line's 9.13824 lower high, makes this a bull market, bullish interest in 3-hourly view.
Hm, so will bears take out the support zone due to that bearish candle and those bearish wicks ?
Price falling below 9.12000 will make this setup invalid.
USDNOK bounced from support, potential for a further rise!
USDNOK bounced off 9.08395 where it could potentially rise further to 9.18000.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDNOK - Bullish extensionUSDNOK (4H) - short term bullish bias
The US dollar achieved a new high after breaking above the major resistance level of 9.16. It seems that buyers have not jumped ship but are still committed to the rally. We can expect the price to continue its way up as long as the trend line keeps buying interests intact. The RSI has yet to show an over-bought situation, and a few hours of consolidation are likely before another bullish momentum.
Key support: 9.1100
Key resistance: 9.2000
USDNOK reversed from resistance, potential drop!
USDNOK reversed off its resistance at 9.18000 where it could potentially drop further to 9.08395.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDNOK - Bull trend coming to an end! Prepare for BIG sell off !We have been in a bull trend since June '19 and it's now making an Ending Diagonal, that as the name suggests, appears at the end of a trend.
A potential termination point is the Fib cluster zone marked by the yellow box but it can also come to an end even at current level!
A good sign of a sustained reversal will be if price breaks below the wave (2) and (4) trend line and then the dotten line from wave (2).
A first target can be 9.00 followed next by previous wave support level at 8.875.
If on the other hand price goes above 9.2590 , the E.D pattern gets negated because wave (3) would then be the shortest of 1,3 and 5.
USDNOK reversed from resistance, potential drop!
USDNOK reversed off its resistance at 9.18000 where it could potentially drop further to 9.08395.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDNOK potential reversal!
USDNOK expected to rise up to 1st resistance at 9.16450 where it could potentially react off and drop down to 1st support at 9.08395.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
USDNOK - Sell/Sell on Rally - Short-termThis is just a short-term trade.
As I see weakness/overbought conditions in daily/weekly charts and a very clear RSI divergence on Daily chart, and developing on Weekly chart.
However, monthly chart is still bullish/neutral.
Therefore, only a short-term position seems justified to me (after next month candle, I may continue the trade)
Trade is active for me. I have entered short at 9.10
Will add more shorts if it moves towards 9.15
Target is around 8.95/8.90
USDNOK bounced from support, potential for a further rise!
USDNOK bounced off 9.08995 where it could potentially rise further to 9.16450.
Trading CFDs on margin carries high risk.
Losses can exceed the initial investment so please ensure you fully
understand the risks.
