NOKJPY trade ideas
NOK JPY SELL (NORWEGIAN KRONE - JAPANESE YEN)Hi there. Price is forming a continuation pattern to the downside. Watch strong price action at the current levels for sell.
NOK/JPY MULTI-TIMEFRAME ANALYSIS - UPDATE!!!Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
NOK/JPY MULTI-TIMEFRAME ANALYSIS Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
NOK JPY SELL (NORWEGIAN KRONE - JAPANESE YEN)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
NOKJPY 1HClear support/resistance line (where stars are; goes back further on weekly/daily view). It looks like we're stuck in a tiny little channel. Once it breaks above, if it does, we could go test an average of the previous highs.
NOKJPY The Japanese Yen pressured as it appears there is a high Any sudden headwinds in the world coupled with more instability in the euro area could see a trip to the safe-havens currencies, thus pushing the pair down.
Rised defending tri ( descending triangle)Pair seems to be losing buying momentum daily has shown rejection candle indicating sell signal
TP as shown back to 10 than to arrow head
NOKJPY: Long term trading plan.The pair is trading within a standard Channel Down on the 1W chart (RSI = 38.708, MACD = -0.485, ADX = 41.103) since 2013. Three weeks ago it made contact with the Lower Low trend line of the Channel Down and priced a Lower Low. Naturally it has been rebounding since and is close to the 0.382 Fibonacci (14.000 as the High).
The sequence is similar to the last Lower Low it had in June 2016, which after touching the 0.382 Fib, got rejected back to its 0.618 and then made a top on the 0.5 (from its November 2014 High). If the same sequence is replicated, then we should use the 0.5 - 0.618 Fib range (9.850 - 10.150) as the Dip buy Zone and buy every pull back towards the 0.5 (11.500). Then every rise will be the opposite, i.e. a sell opportunity towards 9.000.
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NOK JPY BUY (NORWEGIAN KRONE - JAPANESE YEN)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to complete the pattern and watch strong price action for buy.
NOK JPY SELL (NORWEGIAN KRONE - JAPANESE YEN)Hi there. Price is forming a possible continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
Long on NOKJPYNOKJPY is at historical lows and current price is sitting between 2 structural levels. One potential outcome is for the market to break below structure and, upon re-testing, a potential for a short becomes available. Alternatively, if the market breaks above structure, then upon the re-test we can go long.
NOKJPY Update (Educational)Price didnt go to the TP area but we were still able to secure and get profits of this setup.
Check both reviews for the setups to understand
Prev chart - s3.tradingview.com / s3.tradingview.com
NOKJPY Update (Educational) You will have to read the Previous post to understand this 1
Watching from the educational post lets see - s3.tradingview.com
1. The ABCDE Triangle pattern played out OR The flag bullish continuation
2. Breakout setup also played out with a SL run (Note we didnt calculate proper SL settings as read in prev chart anaylsis)
3. Double bottom pattern did not form (Deleted the 3rd Long setup order from this chart as the Double bottom ) hence we see a STOP RUN wick just below taken out the prev Lows also the Wick Low resting on the inverse Head and Shoulder's Left Shoulder Yellow Line.
TP is above the HIGH but always aiming for a high as the target.
Exotice Pairs tend to move slower but still pays.
NOKJPY EducationThis is just something I want to share how you can analysis 1 chart with different scenarios
DO have a look
From where price is at
1. The ABCED triangle pattern where we enter at E
2. The flag pattern is forming
3. Market Structure shows a bullish pattern (Numbers 1 & 2 Above Patterns)
4. We see and inverse Head and Shoulders where right shoulder is forming
5. Breakout traders can wait for price to break the upper channel line
6. Price can continue down to form a DOUBLE BOTTOM cancelling out our previous setups Numbers 1-5
Note 3 possible Buy/Long setups on the chart the first high can be TP target but once price goes higher into profit we secure the trade and let her run. Stops can also be trailed.
Always wait for confirmation before entering. If the ABCDE pattern fails thats what the SL is there for incase price wants to form the double bottom.
Note I have not work out a calculated PIP for SL this is just an example for analysis for different buy/long trade.
