olly_price
Long

GBPZAR potential for a big rally

FX_IDC:GBPZAR   POUND STERLING / RAND
Falling wedge with 5 hit points, approaching a 6th and final one for a strong breakout.

Excellent previous structure support (indicated by the horizontal black line) asking for a rebound into the upside. I think that this falling wedge will accentuate the rebound off the support line.

Major bullish divergence on the RSI occurring in the oversold region.

Profit targets are indicated by the horizontal green lines.
Comment: Despite the break below, I still expect break above the wedge due to the strong structure support.
Order cancelled
United States
United Kingdom
India
Deutschland
France
España
Italia
Polska
Türkiye
Россия
Brasil
Indonesia
Malaysia
ประเทศไทย
Việt Nam
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing My Support Tickets Priority Support Contact Support Ideas Published Followers Following Private Messages Chat Sign Out