ThinkingAntsOk
Short

Top and Bottom Analysis on USDZAR by ThinkingAntsOk

FX:USDZAR   U.S. Dollar / South African Rand
Use this as a guide to spotting the most important areas on the chart to develop your own setup

Main items we see on the 4hs chart:

a)Currently, the price is against a resistance zone + the higher trendline of the ascending channel (major reversal zone)
b)Observe the Bearish divergence on MACD Histogram
c)We need to wait for reversal signals before entering the market
d)2 optiones you wan wait for a corrective structure inside or outside the current bullish movement, in both cases you will have
a good risk reward ratio and good places to set your stop
e)However if price breaks above the Current resistance zone with a close daily candlestick we will cancel the bearish thesis

Daily Chart:

Weekly Chart:
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