Maybe I'm taking emotional trades.
I saw CFD, H4 doesn't close at the same hour. The CFD close already under the resistance. Not the spot.
I have to take time to think aboute my week.
We see this reversal bearish corrective pattern but it can be changed to a trend continuation pattern.
Very volatile pair
Trade with care use a stop loss.
I am seeing it go all the way up from the technical side but fundamentals always have the last word . The first reason why I see a buy is the fact price reached a previously tested support and gives us a third touch confirmation as you can see with the rectangle.
The second reason I buy id the fact I seer the price has tested the bullish channel's support .
I...
AUDZAR H4 -Down
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Khiwe
At this profile page, the shared analysis, ideas and also, the strategy of a chart belong to Khiwe with some being influenced. The technical set-ups are speculative, they are not guaranteed for accuracy or in completeness in the form of any content; -it is not to advice on financial markets. Please apply your own analysis and confirm it...
South African Rand is entering a relative strength period against the Australian Dollar that unleash 2 trading Ideas.
First Idea: buy for 10-20% profit with similar stop-loss.
Second Idea: buy for long term (at least 1 year) and benefit from both positive interest differential and positive trend for at least 30% estimated gain with 20% stop-loss.
AUDZAR 2hourly bearish set-up, and you can estimate your SL with the DSL Resistance from 12.3051, confirmation required on alert, looks bumpy ahead following a loss in volatility in the higher time frames.
Pattern: 1W Rectangle (9.5820 Support - 10.5700 Resistance).
Signal: Bearish as the price completed a cyclical Lower High within the pattern.
Target: 9.9000.
