rv
Short

USDZAR(H4). Triangle break_out.

rv  
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.
ABCD.
WaKaS
2 years ago
i believe it will go upside !!!
Reply
WaKaS WaKaS
2 years ago
12.6000 shold be the target with stop as the low recently made ...
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rv WaKaS
2 years ago
its possible, and can you give your reasoning for that, maybe by a chart ?
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WaKaS rv
2 years ago
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
2 years ago
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. :)

Reply
WaKaS rv
2 years ago
yes B-wave and 4-wave are triangles only ...
and sorry i didn't mean to be disrespectful !
+1 Reply
rv WaKaS
2 years ago
of course you were not. Thanks, for your constructive comment.
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Thadius Kimeu
2 years ago
great analysis and look forward to more of this..thanks and thumbs up...
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manbearpig
2 years ago
Very nice. Looks like you called it !
Reply
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