Daniel.B
Long

Long until the trend ends..

FX:USDZAR   U.S. Dollar/South African Rand
240 0 4
Hello traders, I'm slowly going to be getting more active in FX once again. Well to start out with this pair has been one of the best defined trends I have ever traded. And the area I'm looking to get long at at previous resistance turned support around the 12. 4800             area. Stops will be placed around the 12. 0000             area marked by the red line. The trade targets are outlined by the green lines, with two targets total. Now you can probably see why this has been one of my favorite pairs to swing trade / position trade. Its simple and straight to the point with clear areas of support / resistance which as you may know forms the foundation of my trades.

Cheers to a new week! =)

Note: If your new to trading exotic FX pairs then my advice would be to study the fundamental reason behind the trend, certain hours when a Central Bank interferes in the market & the scale of their currency intervention, positive / negative carry, and the hours of the day/night when the spread is the tightest (also spreads get pretty wide during off market hours so take that into account when choosing your TP's and stop-loss orders. That is just a few of the main things you need to understand when trading exotics.
United States
United Kingdom
India
Deutschland
España
France
Việt Nam
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
简体
繁體
Home Stock Screener Forex Signal Finder Cryptocurrency Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators Website & Broker Solutions Widgets Stock Charting Library Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Support Priority Support Report Issue Ideas Published Followers Following Private Messages Chat Sign Out