Anticipate a downtrend 3rd wave to complete either at the most recent low or at 14.50. With this in mind we look to Buy 3rd wave completion into the 4th wave extension (note: Stochastic RSI is currently out of sync for this) TP1 - 15.00 TP2 - 15.39 (3.4 reward:risk) 50% retracement of the 3rd wave is 15.33 so sell levels for the 5th wave move lower are Sell...
AB=CD pattern is complete strong resistance and 14.60 First profit Target at Fib .382 @ 15.10 SL-14.50 Good to Enter now
AND WE DO TAKE PROFIT!!! RED TURNED IN GREEN, GO LONG OR TAKE PROFIT
Short on retrace back to the neckline. Maybe a robust non-farms will help out. If not, short on the break of yesterdays candle after the news.
Trade to test sediment over signals. Bullish signals but will sediment drive price action down?
USDZAR is passing into a strong demand zone, where buyers will take more control and send to upwards.
5-wave completion at TL-ML intersection with Stoch(13,3,3) divergence in 1h. S/L around 161, R/R almost 1:20.
When the trend line holds, price will make another move downward towards 15.200. Swing short
Pair reached trend line support and formed short term wammies double bottom. If I am correct the pair may stretch up to 15.80 zone.
Good morning traders, USDZAR continues with bearish bias, I entered short @ MKT with SL above 15.75 Below 200 MA and identified demand / supply levels support the perspective of an AB=CD move Target around 15 level If you are happy with the post, please thumbs up and/or follow me Good luck Josep Pocalles
Looking at random crosses and found this........ USDZAR is a wild pair so enter at your own risk!