USD/ZAR ContraTrend Buy - Head and Shouders
This is for educational and study purposes and does not constitute a signal but a study.
Studying confluences for a contra-trend buy for this pair. We are in a sell trend, but this would be the retracement before continuation back down. Confluences are as follows:
1. Price is in a key demand zone as highlighted.
2. Trendline confluence on the higher time frame.
3.On the lower time frame H4 we have divergence. I will post this in the comments for your reference at a closer look.
Trade at your own risk and if you do take this trade please remember to use proper risk management. Always put your stop losses in place.
For this and more ideas inbox me to join my team of winning traders. You will also gain access to an educational platform where you will learn how to study the market and call your own profitable trade set ups.
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Studying confluences for a contra-trend buy for this pair. We are in a sell trend, but this would be the retracement before continuation back down. Confluences are as follows:
1. Price is in a key demand zone as highlighted.
2. Trendline confluence on the higher time frame.
3.On the lower time frame H4 we have divergence. I will post this in the comments for your reference at a closer look.
Trade at your own risk and if you do take this trade please remember to use proper risk management. Always put your stop losses in place.
For this and more ideas inbox me to join my team of winning traders. You will also gain access to an educational platform where you will learn how to study the market and call your own profitable trade set ups.
Feel free to like and offer comments. Also please be sure to follow this post and updates by clicking the follow link in the lower right corner and be sure to turn on your notifications.
Comment:
confluence on the H4
Comment:
divergence shown above