The pair did test 18.7400 area and fell too a low of 18.5250 area and recovered upwards.
The issue is, we are boxed-in within GANN support and resistance, ranging 18.5600 - 18.7400. The stochastic is negative, and for that reason, I prefer SELL into rally. If short, and not taken back low 18.50s I suggest to abort now. I feel we may see higher first, but this is...
With USDZAR giving up a two wave retracement to the create a lower high at the 18.7 resistance I can say that we may see a lower low form, come 2024 around the 17.3 region
Entering a USD/ZAR sell position with a target of 18.59451, aiming to hit before the daily candle close; adjustments will be made if the target isn't met in time. Stay tuned for updates.
The initial idea of SELL 18.49-18.51 only encountered a low near 18.3600. We have since then climbed dramatically whilst GOLD is higher in fact. This is not usual behavior, and the break of 18.6100 area suggest we may see 18.7400 test before down.
Strategy SELL @ 18.6800-18.7100 and place SL above 18.7700. The profit order now placing @ 18.5250.
The pair has risen as expected, albeit my earlier bail out at 18.4250 area. The objective was met though.
For now, would be SELL side again, but will respect GANN resistance 18.6000 area.
Strategy SELL @ 18.4750-18.5200 and place SL above 18.6100. Profit order @ 18.2650.
Entering a USD/ZAR buy position with a target of 18.52544, aiming to hit before the weekly candle close; adjustments will be made if the target isn't met in time. Stay tuned for updates.
The tide has turned, and now prefer BUY side. Stochastic positive and we broke GANN resistance.
Strategy BUY @ 18.30-18.3200 and place SL below 18.2350 and take profit @ 18.4750.
The pair has been unable to move much higher, and considering GANN resistance now 18.3600 area, and a double bottom 18.2500 estimated, and negative stochastic, albeit low, suggest we may see a large move lower. This is purely assumption and believe, and do not take my word for it. However, a tight stop-loss may do the trick and protect in case we are wrong....
Move lower was as expected, but slightly more than I felt possible It always overshoots as we all know very well. For now, there is more downside pressure, but I prefer to remain neutral and only SELL higher near 18.4350.
Strategy SELL @ 18.4350-18.4600 and place SL @ 18.5150 and profit order @ 18.1750.
The pair had a strong move higher, and this is also inline with the dollar index movement. Same as some other pairs, we are starting to see a s/h/s patter (inverse), and this suggests we may see much higher levels in time. the breakout point is around 18.6550.
For now, it feels we are slightly overdone, hence I prefer SELL strategy but with a tight stop....
The pair had a large move down inline with DOLLAR INDEX and other pairs. GOLD steady but am expecting GOLD to move lower again. 4-Hourly chart stochastic is positive and low, but daily is negative, but a doji for the close of the day.
Overall, I feel we may try higher again, but carefully pick the entry level.
Strategy BUY @ 18.1950-18.2350 and place SL below...
USDZAR
Weekly:@weekly highs,Failed to make a new HH(Possible Trend reversal)
Daily: Breaking daily structure
*waiting for a break of 18,27120 for bearish confirmations and will be looking for short opportunities
#1st Bullish leg_Jan 2016-Feb 2018(2years)
#2nd Bullish leg_April 2020-June 2021(2years)
#BYKCAPITAL
#LETSEAT
The pair got stopped out, but it was very near considering the move lower now. The over all picture still the same, and we never hunt, and that is why the SL placed always.
Strategy BUY @ 18.3150-18.3500 and place SL below 18.2450 and take profit @ 18.6550.
Snatching up some zar for an upcoming dip in the next couple of months for a currency swap play. Looking at a failed higher high to bring up a new higher low. It seems to be running out of steam after a good run. Looking for a bit of a break.
USDZAR Up.
Price climaxed down.
Then flattened.
And a Double Bottom appears - with a sharp edge.
Divergence of course.
Also some News showing Rand up.
Taking trade with all these confluences - aiming for 5x.
Note - USDCZK going up with ZAR also now.
