This is my bearish trend idea. However, wait for a fall back to a key level after trend continue to downtrend momentum, because overall structure breakout and continue to downtrend. You can see it high time frame momentum. Good luck
CADZAR bounced off support on 5yr chart with hidden bullish divergence and these parameters equate to a 2:1 reward to risk ratio: buy at R11.13 with a stop loss at R10.90 and a profit target at R11.60.
Approach:
Entry: Break and close of trendline, as indicated
SL: Below Low after beak and close of trendline.
TP: adjusted with sl for a 1:3 R:R
Considerations for setup:
- Bullish Trend
- Support area
- Volume Profile POC
- Weak Fundamentals overall for ZAR
Good luck :-)
Zar under pressure on political risk and in IMHO the zar should be materially lower on fundamentals and I still cannot believe SA has not been downgraded. I like it ag the cad as the cad is gradually appreciating.
Entered the trade at 10.8000, stop is at 10.7800 and looking for 11.1000 initially where I will sell out half my long , then intend to run the balance...
