We can see marked out on the chart a strong area or support and resistance, we are expecting price to make its way into this zone and when it does we will be looking for a buy... Patients is key in trading and if you don't have any the markets will pull your pants down and shove a rather large hard object somewhere that might hurt. In this game if you rush into...
We are going short on this trade ( if you hadn't gathered that by the title ) after a bounce of a well respected resistance level in the weekly, daily and 4H timeframes. NFP is today so whatever you trade the trade carefully and reduce risks by moving SL into profit where possible.
# Ascending triangle pattern spotted # Breakout of resistance and retest as support Buying at market price 14.15580 # Stop loss below support at 14.04748 # Take profit higher up below resistance at 14.50171 As usual don't bet the farm, good risk management won't kill you but the lack thereof could :) Follow me in Forex Bootcamp using the Telegram link below
Confluence of a few factors: 1. Downward trend line serving as resistance 2. Bearish engulfing candle pattern (sell signal) 3. Pinning 21 SMA 4. All happening at 14.13959 short term resistance I am selling at market price with #Sl just above the bearish engulfing @ 14.18403 and #Tp lower down at previous demand zone around 13.85317 As usual don't bet the...
USDZAR rejected resistance zone. Can go short.
Will the double top pattern prevail? I have marked key levels where I will be using price action to look for clues. Follow me on Telegram messenger using the link below for more details when the trade goes live
13.46895 is a key resistance level that will be respected, and with the 2 added trendlines ( purple arrows are where price has previously touched and respected these lines ) we can see no other direction other than down with this pairing, so we are in a sell position at the moment but we have a tight SL just above our resistance level just incase resistance is...
FX:USDZAR I have been waiting to see how price will react to the 14.00 level. Now a candle has pinned the level signalling the bears. Entered a short at market price @13.93618 with: *Stop loss above the wick where I feel this setup would become invalidated @ 14.10325 *Take profit placed at the support of the swing low to the left @ 13.65440 Don't bet the...
FX:USDZAR 1. Lower highs formed 2. Resistance holding 3. Consolidation at resistance (bulls out of steam?) 4. 200ema broken 5. Targets from 14.11 to the 13.90's SL 14.63030 TP1 13.90285 TP2 13.60857 TP3 13.37187 Entered at market price 14.33650
FX:USDZAR 1. Lower highs formed 2. Resistance holding 3. Consolidation at resistance (bulls out of steam?) 4. Targets from 14.11 to the 13.90's Looking to short when the time is right, more details to follow...
FX:USDZAR Ah, I have been watching this pair for a couple of days and it looks like we may just have a possible short setting up. * Price is currently in a down trend in the bigger picture * Hanging man (hammer at resistance) candle completed (sell signal) * Bearish candle currently printing (needs to close bearish for confirmation of sell signal) Should...