Selling only after the break below the HMA and the retest of the liquidity zone **This is just my trading thought process and does not constitute as financial advice. **Please trade with proper risk management*
The South African currency has been weakening for years, but it has already tried to break through the support shown in the picture three times. It may be worth placing a short position up to the lower support.
TP 1 @20.60000 HIT. We now focus on H4 closure for TP2 @20.750000. The pair has traded sustainably above 20.50000 key leve.
LONG POSITION; TP1 20.60000; TP2 20.750000 The pair has formed a bullish confirmation candlestick in the H1 chart.
This is an update to yesterday's post. The pair has formed a considerable support after the fifth touch at support trendline; This calls for long term buy move towards the the key 21.00000 Psychological key level.
We maintain a long term bearish approach to this pair. Presently, after a break of structure, we have a corrective move targeting the unmitigated zone at 20.39 price handle. On the 4 hour time frame, we have a change of character and internal break that informs our buy position at 19.9
For the better part of the year, the South Africa Rand has weakened against major currencies. Q2 we saw a reversal. Presently we have completed a bullish correction that grabbed the trend line liquidity. We have or sell limit orders placed either at the liquidity level of 20.67125 or unmitigated supply at 20.71422. Our projected exit is the liquidity sitting below...
I drew this pattern a few weeks ago and it's good to see that price has conformed to the pattern. Being a pattern found on the weekly timeframe this level can get tested a couple of time over a number of weeks. The most ideal thing to do is to catch the trade on lower time frames fist analysing the D1. You are basically looking for signs of price divergence over a...
EURZAR is currently in a Weekly order block. We have vector candles showing a decisive three pushes to the current low. RSi and TDI should read lows and Shark Fins in this region. Look for a Head and shoulder pattern to enter long toward the 70.7Fib retracement of the XC leg. Usually pattern failure may occur around the Fib level around the 19.5100 level. If...
A bearish Cypher on the Weekly timeframe is near completion. Price is currently within a Weekly order block and we will most likely see a lot of trapping behavior in this region. This area is arrived at after a very long bullish trend and so as a result we will most likely find a build-up of both institutional volume as well as day-trader volumes. On the daily...
There's a bull flag that has recently formed which has broken out strongly and now looks like the first target will be heading to R19.19. Not great for the rand but luckily we can go long the Euro to make up for it.
will likely to continue uptrend falling wedge breakout has already done looks ready for bulish move
EUR/ZAR is showing classic textbook analysis of a Cup and Handle. It's broken out of the brim level and is showing strong demand (buying) to come. The first target is to around R18.23. CONCERNS: There is a rising channel which the diagonal line is a strong support. If the price breaks up and out of this channel, we can expect major downside to come for the rand....
EUR/ZAR - Daily is in a channel and is doing exactly what we thought it would do a few weeks ago... As long as it's in the channel it's in a sideways consolidation period. What else should I analyse for you?
EURZAR $EURZAR Initial Short. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
EURZAR $EURZAR Continuation Long. TP and SL on chart. Move SL on TP. After TP2, trail with 0.5ATR step and 1.5ATR offset.
EURZAR has been trading in a bearish parallel channel and just recently broke the channel. The barometer now is the falling trendline, which will helps to short on strength. Alternatively, break above the falling trendline will call bulls back in the party and long positions should be open. Trade your levels accordingly.
EURZAR after being in a bearish trend (the pole of the flag) moves into the bullish parallel channel. The current price is at the middle of the channel. Two possibilies are here; The bearish flag pattern will come into play and price will drop sharply if it breaks down the channel. However the breaking above will result in bullish continuation and one can enter...