peterbokma

USDZAR-SELL strategy 3-hourly

Short
FX:USDZAR   U.S. Dollar / South African Rand
The pair has move a little higher, and beyond the SL 18.9950, and then retraced back. Overall am a preferred SELLER of the pair, observing a possible S/H/S pattern, that may not be completed as yet. the stochastic suggest positive movement upwards, and I feel in this context, we either BUY carefully with stop below 18.9100, or await the SELL that should be near 19.10-19.15 area with SL above the previous high. I prefer SELL into rally and not the BUY version mentioned.

Strategy SELL @ 19.1200-19.1550 and place SL above 19.19765 for now. The profit order is @ 18.7350 for now.

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.