rv
Short

USDZAR(Daily). Potential Rising Wedge confluence.

rv  
FX:USDZAR   U.S. Dollar/South African Rand
266 6 5
Three Drives Pattern(Non-Ideal), potential regression to uptrend_line(minor), Rising Wedgex2 with WW characteristics(5 waves), AB=CD and Doji Candle. RSI bearish divergence. Price closed within Wedge .
Notes on Chart.



FullTimeTrader
2 years ago
Nice! a perfect ending diagonal, in such cases the last target would be the beginning of it. Im already short on USDMX but it one offer a better R/R ratio. Best Regards.
snapshot
+1 Reply
rv FullTimeTrader
2 years ago
nice to hear!, thanks for chart, best regards
Reply
MarkLangley PRO
2 years ago
Good analysis i believe this is stretched and even the latest rate rise didn't help, i also always have difficult being short this pair historically its easier buying it but cannot fault your analysis just personal observations ...well done
Reply
rv MarkLangley
2 years ago
thank you. Yes agree with you, but looks stretched nevertheless, indeed.
Reply
Yahia.Awes
2 years ago
I love it!
Reply
Yahia.Awes Yahia.Awes
2 years ago
Also I posted an idea about this one.
Everything comes to an end
Reply
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