📉 Weekly Overview:
EURNOK holds firm at a major support zone and prints a bullish engulfing candle, signaling potential reversal strength. This is a significant reaction level that previously acted as a demand zone — price respect here is a strong technical clue buyers are stepping in.
📈 Daily Chart Analysis:
The daily chart confirms bullish intent as price breaks internal structure and descending trendline, shifting short-term sentiment. Bullish momentum is building, and we now see buyers reclaiming control.
⏰ 4H Chart Setup:
The 4H structure breaks trendline resistance and EMA50, and continues upward with strong bullish candles and higher highs. A clear trend reversal is forming on this execution timeframe.
📌 Plan:
Bias: Bullish
Entry: On minor pullback near broken trendline / EMA50 retest (confirmation entry preferred)
Targets:
TP1: Previous 4H high
TP2: Daily resistance zone
Invalidation: Break below the bullish engulfing candle low on weekly timeframe
EURNOK holds firm at a major support zone and prints a bullish engulfing candle, signaling potential reversal strength. This is a significant reaction level that previously acted as a demand zone — price respect here is a strong technical clue buyers are stepping in.
📈 Daily Chart Analysis:
The daily chart confirms bullish intent as price breaks internal structure and descending trendline, shifting short-term sentiment. Bullish momentum is building, and we now see buyers reclaiming control.
⏰ 4H Chart Setup:
The 4H structure breaks trendline resistance and EMA50, and continues upward with strong bullish candles and higher highs. A clear trend reversal is forming on this execution timeframe.
📌 Plan:
Bias: Bullish
Entry: On minor pullback near broken trendline / EMA50 retest (confirmation entry preferred)
Targets:
TP1: Previous 4H high
TP2: Daily resistance zone
Invalidation: Break below the bullish engulfing candle low on weekly timeframe
Note
First entry triggered.Trade closed: stop reached
SL hit before it turn back up.
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.
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.