USDNOK - Possible short-setup
USDNOK has now tested trendline established since early 2016, where the last touch point was due Brexit. The recent move upward has been on declining volume and created a negative divergence which supports a possible failure of breaking resistance @ 8,50.
In that matter, this pair should offer a nice risk/reward for a short play.
Trade-idea:
Short entry between 8,45-8,50
Stop-loss if we close above 8,52 on a daily timeframe
Target 1: 8,30
Target 2: 8,20 (if Target 1 is reached, move stop down to 8,40 on a daily timeframe.
Play safe!
In that matter, this pair should offer a nice risk/reward for a short play.
Trade-idea:
Short entry between 8,45-8,50
Stop-loss if we close above 8,52 on a daily timeframe
Target 1: 8,30
Target 2: 8,20 (if Target 1 is reached, move stop down to 8,40 on a daily timeframe.
Play safe!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.