USD/NOK short/sell idea. almost 6700 pips move...In the name of ALLAH who is most merciful and the master...
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Please note:
-> Never go beyond 1.5% risk of your total trading capital on a single trade,
-> Always move your stops to your entry levels after the price moves 100 pips towards target,
-> Close half of the trade position after market makes half movement towards target.
USDNOK trade ideas
USDNOK analysisNOKUSD and AUDUSD are negatively correlated to one another. NOKUSD broke a recent 1 hour support and support becomes resistance. A retest of the resistance zone showing signs of bearish pressure will activate a sell. Stop loss about the previous 4 hour candle. Take profits at 9.19556 and 8.99136.
Potential Bearish Movement on USDNOKPrice has been made a 5-impulsive-wave towards the daily resistance zone with ending diagonal pattern. Also, it has been shown a reversal as well as a strong divergence. By breaking the rising wedge downward, it will confirm that it has been started a corrective structure for the impulsive wave. Shorting the pair to the previous support zone will be a good idea in case of confirmation.