USD/ZAR PREDICTION : GOES SHORT WITH HIDDEN DIVERGENCE
https://www.tradingview.com/chart/mpZKEBGO/
https://www.tradingview.com/chart/mpZKEBGO/
Hi guys,
Here is a quick analysis of the USDZAR market for the following hours:
You can see the hidden divergence (blue line) founded between the last two lower highs of the downtrend and both marked up the RSI indicator.
Most of the time (like around 90%), this type of divergence means that the current trend will continue, so the USDZAR will likely continue bearish.
On top of that, if we use Fibonnacci correctly for further confirmation, we can see the price reach the supply and demand area as I have marked up on the chart.
Please If you like my analysis, feel free to share and give your opinion. critics are welcome.
Have a nice weekend and good trade.
See you.
https://www.tradingview.com/chart/mpZKEBGO/
Hi guys,
Here is a quick analysis of the USDZAR market for the following hours:
You can see the hidden divergence (blue line) founded between the last two lower highs of the downtrend and both marked up the RSI indicator.
Most of the time (like around 90%), this type of divergence means that the current trend will continue, so the USDZAR will likely continue bearish.
On top of that, if we use Fibonnacci correctly for further confirmation, we can see the price reach the supply and demand area as I have marked up on the chart.
Please If you like my analysis, feel free to share and give your opinion. critics are welcome.
Have a nice weekend and good trade.
See you.
- Alino