ridethepig | NOK for the Yearly Close

📌 NOK for the Yearly Close

Now comes the traditional complex NOK and SEK map complex. I have mentioned a number of times SEK was in a very good position for sellers, now NOK is joining the disco because it is unlikely that dollar can manage to force the defence. A very amusing chart, for those with a background in waves we are playing the breakdown on a 5 wave multi-decade flow ending.

Here we are dealing with a remarkable position for sellers, a staggering -12% downside to go to the nearest support ....meaning the manoeuvre is intended to put pressure on our opponent as one might suppose with capitulation. Invalidation can be defined above the latent outside reversal.

Thanks as usual for keeping the feedback coming 👍 or 👎

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...insane moves, we are collapsing before the yearly close!