Strong/weak pair. Needs to break, then retest the resistance-turned-support line. Looking at a 250 pip stop loss.
The Daily chart shows a bullish convergence. We now need at least a double wave retrace before price wil complete the second part of this double wave cycle. Price reached 100% FE of the last cycle upwards exactly on a strong Daily resistance level and potential divergence. As long as this resistance holds look for sells aiming 50% FR of the last cycle. Sell the...
After noticing the sharp spike up, I tested tramlines, EW, and RSI, and got a possible H&S
SHORT TRADE : Entry : SELL @ 14.9000 Target : 14.0000 Stop : 15.1870 Risk Level : LOW RR ratio : 1:2 For more signals : fxgenie.com
USDZAR as been correcting this year and is potentially goin down to the upward weekly trendline. Im now looking for a basic structure trade inside the 4H trend that developed due to the correction. Pinbar and doji showing rejection inside the the expected area and risk reward is pretty nice.
Interesting 1-2-3 Setup. The midterm downtrend is full intact. Today the Pair has reached the upper edge of this trend. Swing Trader would prefer a short Position at the actual Level, with SL based near the last High, the last "3". This is the risky Setup. A risk reduced Setup is the caclical shortposition, which can be opende, when we trade below the last LOW,...
LESSON: Trade failed first, and so what!!! I'll keep trying, whilst keeping losses limited. A single success would absorb all the minor losses and return cash on the table. Im long again based on same setup Buy Climax TL BO 3 pushes pattern 2B Reversal signal occurring on long term EMA's and prior KEY ZONE. Price and MACD Bottoms are expanding away from each...
Looks like the Rand has hit a double top, Ideally if the rand breaks the 40 mark it will continue to run downwards.
Approaching a very strong 4 hr trend line. Looking for a possible long if it holds and a short if it doesnt.
Previous 4th wave double topped at 14.29 As per original setup sell 15.10 TP 14.15 (4:1 reward:risk) has been adjusted to TP 14.1875 (3.5:1 reward:risk) Trailing stop currently 14.90
SHORT TRADE : Entry : SELL @ 14.9482 Target : 14.4680 Stop : 15.3368 Risk Level : LOW RR ratio : 1:1 For more trading signals : fxgenie.com