USDNOK Bearish Continuation SetupUSD/NOKOANDA:USDNOKRendon1 USDNOK Bearish Continuation Setup 🗓 Published: June 26, 2025 🕒 Timeframes: 1D & 4H 📍 Instrument: USD/NOK 📊 Technical Bias: Bearish 🧠 Analysis Summary USDNOK has failed to reclaim the previous support-turned-resistance zone around 10.12–10.23 (highlighted in red). This rejection confirms a continuation of the broader downtrend that started in Q2 2025. The current retracement into resistance provides a high-probability area for a trend continuation trade, targeting multiple support levels below. This setup aligns on both the 4H and Daily charts, increasing confidence in bearish continuation. 📍 Key Levels LevelDescription 10.2336Daily supply high / key resistance 10.1215–10.1191Breaker block (supply zone) 10.0103Minor support flip level 9.8500Short-term target (horizontal level) 9.7565Previous demand level 9.7469Final target (major support) 🔁 Trade Setup Entry Zone: 🔴 Enter between 10.12 – 10.23 (supply rejection) 🔄 OR enter on confirmation below 10.01 Take Profit Targets: ✅ TP1: 9.8500 ✅ TP2: 9.7565 ✅ TP3: 9.7469 Stop Loss: ❌ SL above 10.24 (above supply zone) 📦 Confluence Factors Major breakdown from multi-year support zone (April–June 2025) Retest of bearish order block (supply) Large bearish volume in recent weeks Continuation pattern with lower highs and lower lows ⚠️ Risk Note If price reclaims and closes above 10.24 on the daily timeframe, this bearish setup is invalidated. Use position sizing accordingly and trail stops as new swing lows form. 💬 What do you think about USDNOK’s breakdown? Drop a comment and share your thoughts. 📉 Stay safe and trade smart. Let me know if you'd like this formatted for direct pasting into a TradingView "Publish Idea" form or posted alongside another pair for a multi-chart setup. Rendon1