USD/ZAR Never Presume on the Market - Tutorial
USD/ZAR is by far my favorite pair to trade. This is simply a tutorial to remind us to always keep an open mind when we perform analysis. We can never presume which way the market will go. We must study zone to zone, swing by swing, price action, all along the way. Some may say we will see a drop , some may say we will see a rise, but what does the market say? What we want to study is market structure and patterns within the market structure, as well as price action along the way.
Before we study the charts the first thing we should do is forget everything we think we know about where we think price will go. We need to approach the market with an open mind and ask ourselves: What is the market saying to me?
Now for what we do see. Starting on a higher timeframe, technically speaking we could have a bullish flag forming. Afterwhich we could expect another push to the upside. Depending on price action in the markets in the near future, we could see price break the trendline as noted for further movement down; Even still In either sense we may see price reverse. We can't assume that price will reach a certain high or low, but what does the market say? The analysis can change from one day to another based on what price action is doing. I also remind us all to not trade the news, but to keep the news in mind. We should always be aware of what's going on fundamentally. However, the market structure of the chart over time incorporates news events and such over time. Technicals tell the whole story.
Lets discuss! What do you see? Follow me on Facebook or Instagram (links below). Be sure to comment and like as well. Students of the market we must always remain! To join my team of forex traders and learn how to trade the markets, inbox me for more information or click my link in my bio.
Before we study the charts the first thing we should do is forget everything we think we know about where we think price will go. We need to approach the market with an open mind and ask ourselves: What is the market saying to me?
Now for what we do see. Starting on a higher timeframe, technically speaking we could have a bullish flag forming. Afterwhich we could expect another push to the upside. Depending on price action in the markets in the near future, we could see price break the trendline as noted for further movement down; Even still In either sense we may see price reverse. We can't assume that price will reach a certain high or low, but what does the market say? The analysis can change from one day to another based on what price action is doing. I also remind us all to not trade the news, but to keep the news in mind. We should always be aware of what's going on fundamentally. However, the market structure of the chart over time incorporates news events and such over time. Technicals tell the whole story.
Lets discuss! What do you see? Follow me on Facebook or Instagram (links below). Be sure to comment and like as well. Students of the market we must always remain! To join my team of forex traders and learn how to trade the markets, inbox me for more information or click my link in my bio.
