EURNOK Daily Price-Action Positive for Longs
Disclosure: 2 x RM Long Positions. Prices not revealed to Public.
I like long EURNOK and am putting my money where my mouse is.
What I see:
(1) Break-Out above Upper-Bound of Falling Weekly Channel.
(2) Successful Back-Test & Continuation of (1) @ 9.22 level and 50% Fib Retracement of (1).
Why I like the Trade:
(A) Price Action: Strong Daily bounce at (2); Technical levels held; Reversal & Momentum challenging resistance levels.
(B) Behaviour: Bulls encouraged by follow-through; new shorts pressured to cover.
(C) Risk Management: 50% of position treated as short-term scalp; can easily adjust the capital exposure <> initial outlay.
(D) Trade Selection: Trend-following; Back-Test; Continuation-Confirmation all align with my process.
I like long EURNOK and am putting my money where my mouse is.
What I see:
(1) Break-Out above Upper-Bound of Falling Weekly Channel.
(2) Successful Back-Test & Continuation of (1) @ 9.22 level and 50% Fib Retracement of (1).
Why I like the Trade:
(A) Price Action: Strong Daily bounce at (2); Technical levels held; Reversal & Momentum challenging resistance levels.
(B) Behaviour: Bulls encouraged by follow-through; new shorts pressured to cover.
(C) Risk Management: 50% of position treated as short-term scalp; can easily adjust the capital exposure <> initial outlay.
(D) Trade Selection: Trend-following; Back-Test; Continuation-Confirmation all align with my process.
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