Hello readers, my name is Andrea Russo, and today I want to share with you my latest trading decision: opening a LONG position on EUR/NOK. After conducting a thorough market analysis, I decided to enter this trade based on clear signals from different timeframes. Here is a detailed overview of my observations and the rationale behind this choice:

1-Hour Chart (1H): On the 1-hour chart, I identified an oversold signal in the Wave Trend indicator. This tool is known for pinpointing potential trend reversals, and in this case, it suggests a likely bullish rebound in the short term.

4-Hour Chart (4H): On the 4-hour chart, the price broke above the Alligator indicator configuration. This breakout often signals the start of a stronger upward trend, which gave me further confidence in the bullish momentum.

Daily Chart (1D): On the daily chart, we are situated in a well-defined bullish zone. This confirms that the long-term trend is favorable for a LONG position.

These three combined signals reinforce my decision to go long on EUR/NOK. Analyzing multiple timeframes provides me with a clearer perspective and helps minimize risks, ensuring that I trade with a well-structured strategy.

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