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Magnatrio

USDZAR Intraday/Scalp

Long
U.S. Dollar / South African Rand (FX:USDZAR)  
Magnatrio  
FX:USDZAR   U.S. Dollar / South African Rand
Trend Analysis Chart Patterns Beyond Technical Analysis USDZAR usdzarlong scalptrading intradaytrade usdzaranalysis usdzartrade usdzartechnicalanalysis
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trendanalysis chartpattern beyondta usdzar usdzarlong scalptrading intradaytrade usdzaranalysis usdzartrade usdzartechnicalanalysis
Your entry criteria is also your reason for exit. Luckily, our TP was hit and immediately, started forming a falling correction. If this forms in a downtrend, 90% of the time, price is going to reverse. My second confluence is the divergence on my RSI. My third confluence is the 8 & 14 EMA cross over on the M15. Another confluence is the trendline violation. So all in all we had 4 confluences supporting the entry. Another bias here is, the setup is exactly similar to my previously posted setup on Gold.

Risk:Reward Ratio is 1:3

*Disclaimer*
This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are crucial.
#Trade_Like_A_Magnate

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