Could be a nice cypher pattern forming on CHFZAR this week.
Looking for the drop down into the target zone then the bounce back up.
I think I've got the Fib numbers right this time, but as always looking forward to any feedback more pro traders observe.
happy hunting this week.
Possible downtrend using the XABCD cypher pattern and I've also used a trendline which shows a downtrend in movement?
Don't really know how to use cypher patterns so guys only give constructive criticism.
Could possibly retest the trendline and go short.
Take care guys and trade safely.
It has already broke-down (through all the supports)... Same thing happened as in EURZAR, USDZAR, & very soon (the same thing is expected to happen) to the JPYZAR as well...
I'm also taking a close look at commodity prices in general, & they all seems to be on a strong rally-upwards at the moment...: I guess that would be greatly strengthening the...
