EngulfingThe ADX indicates a bearish trend and the latest white candle will be followed y a black one now which may build an engulfing pattern.
EURNOK trade ideas
EURNOK!Price predicts of more sells to come before any reversal upside.
A corrective pattern in the form of a flat, visualises this.
Trade with care use a stop loss.
50% Fibonacci Retracement of Pin Bar for EURNOK | Pin Bar | EMAEntry at 50% Retracement of Pin Bar. Entry at 10.13873.
Fib looks like great targetsLook at the fibs on the EURNOK. Pretty easy to spot the targets on this
I'm using HA + Ema5 + TDI, If the HA turns red I'm out.
EUR/NOK hitting trend lineHere is my prediction for the movement of the pair. It is hitting again the down trendline, expectingly to go further down. You can go short till the orange bottom line, or risk even more and try to reach the second line of the price channel. Good Luck :)
EURNOK: From A Techno-Fundamentalist's View - April 2021EURNOK: From A Techno-Fundamentalist's View
Fundamentals:
Norway is an export-dependent economy and her currency is effected by oil. OIl prices and Norway's inflation remain strong, but not overheated. This is almost a goldilocks zone to support the thesis for a greater expectation that Norway's central bank will maintain a further hawkish stance for their monetary policy. A stronger NOK means that inflation risks will be dampened and the CPI-ATE (consumer price index adjusted for tax changes and excluding energy products: www.ssb.no) will stay lower. This is a stable environment for this export-dependent central bank's current sentiment and moves.
Furthermore, another contributive thought that will influence the NOK currency is that September 2021 will be the time Norway will have elections. Thus, there will be more fiscal spending along the way by the government.
When it comes to the Euro-zone, money will keep the central bank at bay with its current plans with little activism. The EUR currency is weak and its central bank prefers to keep things the same as it is. The Euro-zone itself prefers not to take fiscal measures as the USA has done to give its economy the same thrust. There is good inflation and its equity market is rising. The idea of "why fix what is not broken prevails.
Technicals:
A sustained trend from March 2020 continues to be in play. Any pullback has been an opportunity to take a sell position.
Currently, another pullback seems to be failing again.
MACD still bearish
RSI still bearish
BEARISH CALL This is my bearish trend idea. However, wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
EURNOK 4H 375pip SELL - For week starting 29.3.2021What's up please comment what I can do better.
I have spotted a smaller head and shoulders pattern (0vert last 8 days) forming on the a pull back of the EURNOK downtrend which began this time last year. The 1D trend line (orange) was recently broken up and then back down, the most recent wick up failed on the 25th and lost momentum suggesting a considerable number of swing buyers have left the market, allowing the selling pressure to increase. The 100ma is in our favour as well as the TDI indicator which is turning bearish overall.
We're looking for solid confirmation of the neckline and the 100ma being broken (especially whichever comes last) before we enter this as price could simply be ranging irregularly and catch us out. Be careful entering this on Monday as there's more fakeouts at market open. If you get in this trade around the entry shown on my screen, I would set: TP1: 50pip TP2: 90pip at fib level 1.000 meeting the yearly low and TP3 at 375pip @ fib level 1.618. We're likely going to see a rejection of fib level 1.000 so make sure you break even at tp1. SL at 40-60pip.
If we hit TP2 definitely keep a runner as we're on a downtrend and want to see monthly and yearly lows broken.
Be careful my slimes
Vince / Vmoney
EURNOK - Bullish Cuphandle ?My hope to see the EURNOK bullish makes me see a cup handle pattern, which coul lead to a small Bull run to around 10.4 NOK
EURNOK!Major swing trade upside.
Price could be in either an ending diagonal structure or a corrective structure.
After the current drop, a buy will come, either impulsively or correctively.
Trade with care use a stop loss.
EURNOK Long we are seeing the EUR strengthen this morning, over many pairs
as the Norwegian currency this week could see it battling with
the EURO and other pairs.
I have a short BUY in and TP at 10.23115 if it breaks this price
we could see further movement towards 10.30430
EURNOK for recent lows? 🦐EURNOK is now testing a daily support over an ascending trendline.
According to plancton's strategy, if the market will break below, we can set a nice short order.
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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.
EURNOK LONG TRADEI am going long on this pair after seeing this double bottom forming. The Daily candles are getting smaller in size showing less seller momentum and todays candle, although bearish, printed as a reverse hammer which is one of my favorite candlesticks to trade.
EURNOK analyssoverall down trend, Price has retested the trend line for another push down and also on a previous support level for a re- test
EURNOK Long term BuyPrice is getting out of the channel after a long downwards trending and currently above the new support it created. Wait for price to fully go a bit up and catch it on the retest around the support zone 10.49068! Don't forget to manage risk! <3
EURNOK - Reversal Soon!Hello everyone, if you like the idea, do not forget to support with a like and follow.
on DAILY: EURNOK is approaching a strong support in green and round number 10.00 so we will be looking for buy setups on lower timeframes.
on H4: EURNOK is forming a trendline in red (but it is not valid yet) so we will be waiting for a third swing to form around it to consider it our trigger swing.
Trigger: Waiting for a momentum candle close above the gray area to buy. (after the swing high is formed as shown in purple)
Until the buy is activated, this one would be overall bearish and can still dive inside the green support before going up.
Good luck!
EURNOK At this point im looking for bullish entry. But it might go further to the downside to make a retest on the (daily) trendline and then go back up. Now im waiting for the price to go up to fib level 0.786 and then ill enter my trade.
