USDNOK watch for a buy
Hi traders, I hope you're all having a good trading week.
USDNOK looks like an outstanding buy setup. The pair had a strong selloff landing at the Fibonacci extension expiry zone. After this there was some light buying, and now price action is showing multiple reversal candles. I am expecting that if the pair can break the consolidation it could have a violent breakout to the highs, in the form of a strong corrective, or an impulsive leg!
Best regards,
Tom_Killick
USDNOK looks like an outstanding buy setup. The pair had a strong selloff landing at the Fibonacci extension expiry zone. After this there was some light buying, and now price action is showing multiple reversal candles. I am expecting that if the pair can break the consolidation it could have a violent breakout to the highs, in the form of a strong corrective, or an impulsive leg!
Best regards,
Tom_Killick
Note
Still trading nicely in the range. I am expecting the momentum will soon come into the market and bring price up as predicted.Note
Strong downside ended up the weekend trading session low.This is absolutely fine- we can just trade it from the swing low if it bounces here and there is a reversal candle.
Have a great weekend
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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.