USDZAR Daily Chart with buy order blocks marked in yellow. Original analysis; 8am Monday 16 May as preparation for a CNBC Africa appearance. 5th wave targets 18.75 (20.09 in extension). Requires break of 16.97. Until then expect the 14.00-17.00 range to play. Price is extented at current levels (15.60) and 14.80 would present a good buying opportunity.
The Daily chart shows a bullish convergence. We now need at least a double wave retrace before price wil complete the second part of this double wave cycle. Price reached 100% FE of the last cycle upwards exactly on a strong Daily resistance level and potential divergence. As long as this resistance holds look for sells aiming 50% FR of the last cycle. Sell the...
Previous 4th wave double topped at 14.29 As per original setup sell 15.10 TP 14.15 (4:1 reward:risk) has been adjusted to TP 14.1875 (3.5:1 reward:risk) Trailing stop currently 14.90
Anticipate a downtrend 3rd wave to complete either at the most recent low or at 14.50. With this in mind we look to Buy 3rd wave completion into the 4th wave extension (note: Stochastic RSI is currently out of sync for this) TP1 - 15.00 TP2 - 15.39 (3.4 reward:risk) 50% retracement of the 3rd wave is 15.33 so sell levels for the 5th wave move lower are Sell...
Good morning traders, USDZAR continues with bearish bias, I entered short @ MKT with SL above 15.75 Below 200 MA and identified demand / supply levels support the perspective of an AB=CD move Target around 15 level If you are happy with the post, please thumbs up and/or follow me Good luck Josep Pocalles
Continued USD strength will see a test of 17.00 In the meantime; Buying here requires a stop loss below 15.50 or 15.00 So rather sell 16.15 and reverse above 16.36 TP1 15.65 for 1.7:1 reward:risk TP2 14.66 for 3.8:1 reward:risk In reversal moves into 16.93 give 2:1 reward:risk
Bearish cypher to enter now. Strong bearish divergence on the RSI. Profit target is based on Fibonacci levels and is 15.44830 as an initial target and then 15.29297 as a second target. Stop loss is based on previous structure, which isn't great for this trade.
Price has found some support and is currently ranging. There is bullish divergence on the hourly, 4 hourly and daily chart which could help our long position. On the fundemental side, today President JZ speaks which might also give flight to our buy. Based on past instances, JZ always made the rand weaker when he spoke.
Good morning, USDZAR seems ready for a drop . I´m entering short at MKT with SL @ 16.15 . If you want to play safe you can wait till breakout below 15.64 You can subscribe to my mailing list for FX Alerts : eepurl.com Good luck Josep Pocalles
I'll buy when the correction will be finished. High R:R
Price is currently finding support on the daily and four hour charts. The last candle closed with bullish intentions.We also have have bullish divergence and proce is over sold. All this indicates that price will be move up. It could reach next resistance point and if it breaks that we could see it move higher.
I think this pair might see a correction soon. Maybe the top we already have seen! I try to short, but it is risky, because the uptrend is still okay and this pair is very volatile!
"Chinkoullinger", the term is not mine but from a french trader "Robby Scalping", well it's a mix of Bollinger with two standard deviation and Ichimoku clouds. The BB bands can be seen as a kindoff secondary cloud to evaluate the lagging span behavior. What's going on for the next week in this exotic pair? The pair has just broken the summer 2015...
Divergence between price and MACD Expecting Price to drop to the Monthly Pivot