NOK/SEK | Forex Factory

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NOK/SEK

  • #1
  • First Post: Oct 1, 2016 5:01pm Oct 1, 2016 5:01pm
Wondering if anyone is trading this currency pair or a one of these vs other majors.

NOK/SEK looks very over bought on all the TF and looks like might be setting up a quick 200 pip reversal.
  • #2
  • Oct 1, 2016 5:11pm Oct 1, 2016 5:11pm
Attached Image (click to enlarge)
Click to Enlarge Name: NOKSEK.jpg Size: 112 KB
  • #3
  • Oct 2, 2016 11:10am Oct 2, 2016 11:10am
its on my watchlist but i dont see a trend reversal atm.
  • #4
  • Oct 2, 2016 11:17am Oct 2, 2016 11:17am
Quoting mambomango
its on my watchlist but i dont see a trend reversal atm.
It looks so over bought to me ... I bought a put option on it but picked this Thursday instead of next by mistake rookie move as I just started trading fx options
  • #5
  • Oct 2, 2016 11:47am Oct 2, 2016 11:47am
I don't see a break in that strong bull trend yet. NOK is getting stronger and SEK has definitely gotten beaten down badly for some time now. Where do you trade NOK/SEK? My broker have huge spread on NOK/SEK. Btw, using RSI for identifying overbought/sold is not something that works here imo.
  • #6
  • Oct 2, 2016 7:48pm Oct 2, 2016 7:48pm
Quoting ALLorNOTHING
{quote} It looks so over bought to me ... I bought a put option on it but picked this Thursday instead of next by mistake rookie move as I just started trading fx options
can you explain where you see a trend reversal? its gambling to guess price moves. i use pepperstone, the spread is high but ok for H4+ trading.
there is no RSI divergence on the daily but a div on the H4 but that means nothing without the fitting price action. strong trend waves and the next major support is far away. good luck with the options maybe you have luck.
  • #7
  • Oct 2, 2016 7:57pm Oct 2, 2016 7:57pm
Quoting mambomango
{quote} can you explain where you see a trend reversal? its gambling to guess price moves. i use pepperstone, the spread is high but ok for H4+ trading. there is no RSI divergence on the daily but a div on the H4 but that means nothing without the fitting price action. strong trend waves and the next major support is far away. good luck with the options maybe you have luck.
Looks like it's at the resistance of June 2015 and RSI on daily and weekly tf is very over bought

Attached Image (click to enlarge)
Click to Enlarge Name: NOKSEK1.jpg Size: 102 KB
  • #8
  • Oct 3, 2016 5:58am Oct 3, 2016 5:58am
It retraced about 80 pips ... option closed, made 40% return

Good start to the week
  • #9
  • Oct 4, 2016 11:07am Oct 4, 2016 11:07am
fading momentum on NOKSEK but too early to go short.
  • #10
  • Oct 4, 2016 4:23pm Oct 4, 2016 4:23pm
Quoting mambomango
fading momentum on NOKSEK but too early to go short.
That I agree with ... NOK has been very strong last few months vs all currency pairs. Look at GBPNOK

But I agree it's still too early for a clear reversal
  • #11
  • Last Post: Oct 7, 2016 1:38pm Oct 7, 2016 1:38pm
im looking for a good short entry, too bad its friday.
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