USDZAR is trading with a triangle and price is approaching the end corner of the triangle, indicating that a strong bearish or bullish movement is coming soon. Traders should wait for the market to move and give a valid entry, pointing towards a clear direction. At present, price is near a support zone and a supportive trendline, presenting a good probability long for bulls.
Do not trade based on your (or anyone's) predictions, rather wait for the market to move and react to it. Patience is key, this is not a short-term trade.
Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below, all input is appreciated.
Best of luck traders!
Do not trade based on your (or anyone's) predictions, rather wait for the market to move and react to it. Patience is key, this is not a short-term trade.
Be sure to follow me for more ideas and analyses. Leave a comment with your thoughts below, all input is appreciated.
Best of luck traders!
Trade active:
We entered on the break and retest of the supportive trendline. Our first target has been reached, some short positions have been closed in good profits. Remaining positions are being held.