JSE:BVT has broken through an ascending support level and is looking good for a short position once it breaks through the fractal level of 5th of June.
FX:USDZAR
Long term channel held USDZAR at least for now.
Smaller channel made with clear negative divergences.
Looks like USDZAR weakness (great for us in South Africa) is on the card for days to come.
JSE:OMU has broken through a fractal and is continuing upwards with strong momentum.
Along with this, the stochastic and the MACD have both turned up and the EMA's are crossing which are all signals to go long on our trend-following momentum strategy.
JSE:CPI formed a piercing line pattern with Friday's close which is a bottom reversal signal.
After a preceding downtrend, the green candle opens below the previous day's close and above the middle point of the red real body. It is a bottom reversal signal, but the candles MUST be different colours.
JSE:MND has broken through a descending resistance and a fractal which is a good sign for a long move. On top of this, there was recently a bullish engulfing candle which is a further sign of an upward move.
This idea is for demonstration and educational purposes only. I suggest If your account can handle the risk for this idea, it would be a great set up. Possible 700 plus pip reward.For demonstration, I placed my stop loss above the key of support as noted. I do not recommend this, but if you wanted to stand a little bit more risk you could allow more room for...
JSE:SHP is showing all of the signs for a long position on our trend following momentum strategy.
It would have been better to catch this a bit earlier, but it still has a bit of room to move until it hits the previous resistance.
JSE:SPP broke out of the bottom of the 'buy box' consolidation area yesterday which normally means a signal to go short, but it seems like a hammer candle is forming which could mean a reversal, so I will remain cautious and only enter a short if it breaks the current low of today's price action.
JSE:NPN has formed a bearish harami and has broken through an ascending support level. I will enter this short if it breaches the fractal that formed on the candle of the 13th of June.
JSE:CLS has formed a bearish harami which is a reversal signal. The last harami didnt play out, so I will wait for a confirmation before possibly entering on Monday.
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