I am not really going to go heavy on this because tomorrow is NFP so I'm protecting my capital. This is what I'm seeing but will wait for the next few candles before deciding what I will do.
⚠️⚠️⚠️⚠️⚠️Stay away from this idea, it's something I just want to test. I post my ideas as reference for myself and to track my progress, so I'm posting it so I can document in-case it backfires. It follows my criteria to enter trades (RR, candle confirmation, pattern confirmation, a pair I have back tested)
Still running, but move SL into TP (According to your trading plan & goals). Dollar gaining back some of the strength it lost but as more and more talks go on about the one currency idea, we could see a further move down.
We entered a long on JSE:CPI based off of the crossing of the EMA's and the turning up of the stochastic and the MACD. The trade is looking good so far with it being about a 3rd of the way to the target at 1925. It may find a bit of resistance at the current level, but I think we can potentially see a nice profit at the target if this momentum continues.
The SARB will release their latest interest rate decision on Thursday and expectations are pointing to another 25bps hike which will push the repo rate to 7.50%. I haven’t posted an idea on the pair in quite a while but a whole lot has happened since my last idea. March has been a very turbulent month for the local unit, but the rand is holding up relatively...
Similar to our JSE:NPN trade, , the bullish engulfing that formed on JSE:PRX seems to be playing out nicely, and I wouldn't be surprised if it reached is target in the next few trading days.
We entered a long position on JSE:NPN on the 22 of March based off of the engulfing candle from the previous trading day. It is currently looking great and we are well on track to reaching the target at the 3550 level.
Hey family, hope you've all been healthy! This is short and sweet for anyone wondering about how I take my setups. Hope this helps simplify things for you! Don't forget to boost if you find value, thank you. Trade well, stay healthy, and lets keep growing through the journey!
With the past two days' price action, JSE:KIO has broken out of the bottom of a sideways consolidation that it has been trading in since early Jan. If all goes according to plan, we can expect a move all the way to the support level at the 417 area.
A bearish engulfing formed on JSE:IMP two days ago. The short position was triggered yesterday and it is looking good so far. The target lines up nicely with the low on the 15th of July 2022.
All three of the momentum indicators signaled a short position on JSE:BID . Yesterday's price action triggered the short position. We are now aiming to reach the target around the 334 level.
USDZAR is one of my safe heaven pair, i trade it once in a while, here is my daily target for today, jump on the bag if you seeing this..
I really hate that this is what I see but as a manager of capital, therefore feelings need to be cut out and discarded. (I am hoping to be wrong) Yet I see this and will wait for a right shoulder to complete. Then a break in the neckline, a last kiss and impulsive bullish candles then we find an entry and ride the whole way.
I’m just revising my previous idea. My view for a pullback has not changed. On the 4h the MACD looks set to cross to a sell signal while we still have a degree of bearish divergence on the RSI. A break below 18.35 will allow the rand to pull the pair lower towards the 23.6 Fibo rate at 18.10. I do however expect some support in the range between 18.17 and 18.22....
Technical indicators and fundamentals are lining up for a reasonable rand pull back as per my previous idea. I expect the rand to pull the pair lower onto the 23.6% Fibo retracement rate and psychological rate of 18.00. A break below 18.00 will see the pair fall onto the critical support on the blue 61.8% Fibo retracement rate of 17.84 which coincide with the...
All signs are pointing to an upward move on JSE:REM . We are looking to reach the target at the previous resistance around the 153 level.
Our momentum strategy is showing all of the signs for a long position on JSE:ABG . We are aiming for a target at the 221 level and a stop loss at the 191 level with a 1:2 risk reward ratio
Referring back to my long-term idea posted in January (linked below “1H2023 USD/ZAR weekly timeframe”) I believe that the pair has started its 5th impulse wave higher towards the 2020 high around the 19.30’s after the failed break below the critical support rate of 16.80. The rand has depreciated for five consecutive weeks since mid-January which has seen the...