Hey, hey, hey my fellow traders who love to trade the rand!! I've been a bit quiet on this pair and for good reasons:
1. My mother told me that if you don't have anything worth saying, to not say anything at all. The rand has been pretty much playing between ranges the past couple of days
2. A lot of the time, if not most of the time, we should spend time watching and waiting. We should study the markets to protect our capital.
3. I've been spending quite a bit of time with my team of traders, as we collaborate on different pairs in the market. We study, share, and study some more before we execute! Inbox me to learn how you can join my team by the way :)
I think for the first time ever, if not in a long time at the current time I am neutral as to the outcome of this pair. It is very ok to stay neutral and watch to see how a pair plays out. This way you conserve your capital. You can scalp, but for my type of trading style the longer swing trade, I sometimes have to wait before I give an opinion of what I think. It matters to me what I share, as many depend on my ideas. I do have an opinion as to how price may go, but I am not ready to confirm just yet. I have a feeling that the upcoming news on tomorrow morning 7-3-19 will definitely push price in one direction or the other, which will open up this pair to more momentum, bullish or bearish
This is what we see so far:
1. Price has breached the trendline on the higher timeframes as we can see. The trendline has supported price since February 2019.
2. Price is currently hovering around the 200 MA on the daily. This MA often serves as dynamic resistance or support for a pair.
3. Price is currently resting right at very key levels in the market, between the 50% and 61.8% fib levels. This is a very significant point
I do want to share what I see could be two possible scenarios:
TOP Chart
For a possible short
Depending on price action, we could see more bearish momentum to the downside. Check out the possible prediction based on a previous similar swing.
BOTTOM Chart
For a possible long
Depending on price action, we could see more bullish momentum to the upside. Check out the possible prediction based on a previous similar swing.
I added the prediction tool so that you could see that history sometimes repeats itself. We can sometimes attempt to predict price movements in either direction.
For now lets watch and wait! No need to risk your capital unnecessarily. If you want to gamble, do so in demo. I would love to hear your thoughts! Comment below !
Please check back for updates and like and comment. Also please be sure to follow me on Instagram and Facebook (links below).
You can also join my team of traders. I have team members in South Africa and other countries who I can put you in touch with. We all study and win together. We also share signals. The educational platform pays off!
1. My mother told me that if you don't have anything worth saying, to not say anything at all. The rand has been pretty much playing between ranges the past couple of days
2. A lot of the time, if not most of the time, we should spend time watching and waiting. We should study the markets to protect our capital.
3. I've been spending quite a bit of time with my team of traders, as we collaborate on different pairs in the market. We study, share, and study some more before we execute! Inbox me to learn how you can join my team by the way :)
I think for the first time ever, if not in a long time at the current time I am neutral as to the outcome of this pair. It is very ok to stay neutral and watch to see how a pair plays out. This way you conserve your capital. You can scalp, but for my type of trading style the longer swing trade, I sometimes have to wait before I give an opinion of what I think. It matters to me what I share, as many depend on my ideas. I do have an opinion as to how price may go, but I am not ready to confirm just yet. I have a feeling that the upcoming news on tomorrow morning 7-3-19 will definitely push price in one direction or the other, which will open up this pair to more momentum, bullish or bearish
This is what we see so far:
1. Price has breached the trendline on the higher timeframes as we can see. The trendline has supported price since February 2019.
2. Price is currently hovering around the 200 MA on the daily. This MA often serves as dynamic resistance or support for a pair.
3. Price is currently resting right at very key levels in the market, between the 50% and 61.8% fib levels. This is a very significant point
I do want to share what I see could be two possible scenarios:
TOP Chart
For a possible short
Depending on price action, we could see more bearish momentum to the downside. Check out the possible prediction based on a previous similar swing.
BOTTOM Chart
For a possible long
Depending on price action, we could see more bullish momentum to the upside. Check out the possible prediction based on a previous similar swing.
I added the prediction tool so that you could see that history sometimes repeats itself. We can sometimes attempt to predict price movements in either direction.
For now lets watch and wait! No need to risk your capital unnecessarily. If you want to gamble, do so in demo. I would love to hear your thoughts! Comment below !
Please check back for updates and like and comment. Also please be sure to follow me on Instagram and Facebook (links below).
You can also join my team of traders. I have team members in South Africa and other countries who I can put you in touch with. We all study and win together. We also share signals. The educational platform pays off!