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peterbokma
Mar 26, 2024 5:00 AM

USDZAR-SELL strategy 4-hourly chart Short

FX:USDZAR240
U.S. Dollar/South African RandFXCM

Description

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The pair is poised to move further south. The stochastic remains negative, and we have retreated from the GANN resistances as shown on the chart.

Strategy SELL @ 18.8850 -18.9150 and place SL above 19.0500 and take profit @ 18.7350 for now.
Trend AnalysisChart PatternsTechnical Indicators
Comments
TheFxAce
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It seems prudent to consider selling, given the clear risks you’ve laid out.
peterbokma
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@TheFxAce, yes, based on this chart indeed. However, today got it wrong, thinking we may see highr before lower. GOLD looks it would move lower.. anyway..thats the game we are all in.. tc
WealthCreationFX
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TP at 18.75 and bullish from there?
peterbokma
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@WealthCreationFX, Today's update is not the one you commented on. This idea was whereby we have.a SELL strategy. Today it has changed to BUY. tc
WealthCreationFX
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@peterbokma I see. I will have a look at your latest update
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