USDZAR(H4). Triangle break_out.

FX:USDZAR   U.S. Dollar / South African Rand
217 9 3
Uptrend_Line break_out and Retest.
Potential Triangle break_out (abcde). Down_Trend continuation.
Very nice. Looks like you called it !
great analysis and look forward to more of this..thanks and thumbs up...
i believe it will go upside !!!
12.6000 shold be the target with stop as the low recently made ...
rv WaKaS
its possible, and can you give your reasoning for that, maybe by a chart ?
i never ever traded dis pair but i will try to explain y i think so...

reason 1
by look ov it its like 4th wave correction of impulse (as triangles only occur in 4th waves) , 5th wave still to come in te direction of main trend

reason 2
it looks like a barrier triangle not a symmetrical one.(in barrier triangles b and d terminates almost at same level) ,these trianles always breaks upside (i mean in direction of the barrier not opposite one)

reason 3
i learned it dat once price breaks out of trianngle it never gets back in it again , but i think in ur published case it did ,

+1 Reply
rv WaKaS
Fair enough. thats better. thks
Could be a triangle(abcde) in the B wave, as in ABC.
There are multiple pin bars at the resistance, below the Stop, on the Daily Chart.
'Never', sounds a harsh word...
If you are right congrats, if not, lets catch up on the next trade, nice talking to you. :)

yes B-wave and 4-wave are triangles only ...
and sorry i didn't mean to be disrespectful !
+1 Reply
rv WaKaS
of course you were not. Thanks, for your constructive comment.
EN English
EN English (UK)
EN English (IN)
DE Deutsch
FR Français
ES Español
IT Italiano
PL Polski
SV Svenska
TR Türkçe
RU Русский
PT Português
ID Bahasa Indonesia
MS Bahasa Melayu
TH ภาษาไทย
VI Tiếng Việt
JA 日本語
KO 한국어
ZH 简体中文
ZH 繁體中文
AR العربية
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 My Support Tickets Contact Support Ideas Published Followers Following Private Messages Chat Sign Out