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pointvee

USDZAR short with multiple time frame analysis

Short
U.S. Dollar / South African Rand (FX:USDZAR)  
pointvee Updated   
FX:USDZAR   U.S. Dollar / South African Rand
Supply and Demand Multiple Time Frame Analysis Candlestick Analysis
4
3
supplyanddemand mtfa candlestick

In terms of weekly chart, the weekly supply zone near 15 reached and the price resisted. The bearish engulfing appeared in 4hr chart which indicates that the power of the short is stronger.
So we can enter by 618, 4hr supply zone and 1hr neckline combination, aiming at 14.7735 and 14.5170

Entry: 14.9100
SL: 15.0010
TP1: 14.7735 (1.5:1)
TP2: 14.5170
Trade closed: stop reached
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