The market after retracing till the 0.5 fib level is now putting pressure on the weekly resistance in red.
If the market will manage to break and close below the structure we can look for a nice short order according with our strategy with a huge rr.
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Here is the Plancton0618 technical analysis, please comment below if you have any...
EURZAR is trading in a descending channel, which price seems to be respecting very. Recently, there was a rejection at the resistive trendline and a break of the counter-trendline, presenting an opportunity for bears to short the pair. The first target is the support zone.
Be sure to use proper risk management and do not oversize your positions.
Be sure to...
Hello Traders, here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
We have been in this trade since long but the market seem to make a further bearish move.
The price found a resistance area at the 0.382 of the fib retracement and it currently stay above it.
If the market will manage to break the resistance structure, at the resets we can look for a short order with a target around the 0.5 retracement area and possibly 0.618 for...
Contrary to most of the trader's opinion, symmetrical triangles are not always continuation patterns, they can also act as market tops.
EUR ZAR completed a symmetrical triangle top pattern last week, since then it has broken down from it and now it's back to the previous support zone that should now act as resistant.
This setup provides a 3 to 1 R trade to take.