While this pair has gone up quite a bit in the last 3 days, forming a Three White Soldiers formation within the up-channel, which could move it higher, I do think it is near the top of the range and I am therefore adding a pending sell order a few hundred pips higher, at 8.2300ish. Should my stop hold, I would look to take profit near the big level of 8.1000 or lower, depending on circumstances as they change.
Forex, investments, market tips, strategies, and financial discussions. Also, my personal diary containing details and observations from a bottom up perspective.
Showing posts with label EUR/NOK. Show all posts
Showing posts with label EUR/NOK. Show all posts
Wednesday, 23 October 2013
EURNOK At 8.1300 ~ At Supply?
While this pair has gone up quite a bit in the last 3 days, forming a Three White Soldiers formation within the up-channel, which could move it higher, I do think it is near the top of the range and I am therefore adding a pending sell order a few hundred pips higher, at 8.2300ish. Should my stop hold, I would look to take profit near the big level of 8.1000 or lower, depending on circumstances as they change.
Labels:
Daily Chart,
EUR/NOK,
Resistance,
Swing Trade,
technical analysis,
trend channel
Wednesday, 25 September 2013
EURNOK Triangle ~ Fading Move Up
EUR/NOK is not a pair that I don't have extensive experience with, but it does offer opportunities. I'm noticing that price has moved into what I consider the upper end of the range for the last several months, so I think a sell with a reasonable stop makes sense from a risk reward perspective:
Selling near current levels 8.14000 for a move back down even to 8.00 or lower, say to 7.8000-7.9000 with a stop above the recent highs at 8.1650 could work out.
Selling near current levels 8.14000 for a move back down even to 8.00 or lower, say to 7.8000-7.9000 with a stop above the recent highs at 8.1650 could work out.
Labels:
Contrarian,
EUR/NOK,
technical analysis,
Triangle
Subscribe to:
Posts (Atom)

