March will be known as the worst month of all-time for the South African rand. With the ongoing lockdown, the increasing rate of COVID-19 cases, the crumbling economy, and the downgrading from Moody's - It's just been bad news after bad news for SA. And what happened last week? Well we saw the South African rand hit record lows passing through the R19.00 mark...
I've personally closed my position as I'm unsure of how much momentum the push has to reach or exceed R19 overnight here in South Africa, however I won't be losing sleep over the last few pips of the move should it complete its trajectory, I am not a fan of the candle forming on the H4 (I acknowledge I get more skittish as the trade approaches my target) and would...
The US unemployment claims were at 5,245K as opposed to the forecast 5,105K, down from the previous 6,615K. The deviation from the forecast being so low would mean this potentially bad news has not affected our long position as greatly as it could have. I have also identified a descending channel that's much more visible on the H1, this might have been a necessary...
To me this is a nice short. We have some nice structure forming on this pair. many confluences which indicate short me, my favorite being the 61 fib rejection! ;) Good r:r I will happily take losses when the r:r is so good :)
Currently developing bearish flag pattern. Waiting for a break of the low to validate the move.
Have a look guys and lets discuss your thoughts?? Thanks.
End of the uptrend on USDZAR with possible SHS, i'm shorting it :)
USDZAR is in global uptrend. But no instrument moves in straight lines. What we have witnessed was 50 % retracement and now its forming a clear fry pan bottom (also called Bump and run reversal bottom in Bulkowski's encyclopedia of Chart patterns) reversal pattern, right above 50 % global trend fibonacci level. Pring´s KST confirms the reversal.
Hi Traders, here is the full Update Analysis / Breakdown for USDZAR. Keep this pair on your watch-list. Conditions - 1.Wait for confirmation(Wait For Price Action Confirmation / Market Environment Change ) 2.Use Risk Management (Risk 1% of your capital) 3.Do your Own analysis! 4.Follow for more Analysis like this! 5.Always Be reactive & Not Predictive ! A like...
Sentiment is improving with US500 breaking higher and higher ZAR is a carry ccy -> costs to short it Technical: - failed H1 long attempt - 5% to the 200 EMA on H4
More consolidation going forward, but I think we are still overall bullish on this one.
Hey guys, looking at ZAR for a short opportunity. The 1 hour trend is Exhausted.. not really looking at "what" will happen more like when. Patiently waiting for it to break that first trend line however a Head and Shoulder pattern has formed, extra confirmation. Got in on a 3 finger setup. Sell till next structure, which if its respected, will be resistance to...
USDZAR LONG IDEA CONTINUATION TO THE UPSIDE AT PREVIOUSE SUPPORT THE RAND HAS BEEN WEEK AND IS EXPECTED TO BE WEAK IN THE WEEKS AHEAD STILL TARGETING THAT 20.00000 MARK ON THE ZAR
Gold, Silver, USDMXN, USDZAR, USDTRY, EURUSD Talking about Central bank action, state of economies, the USD shortage and all the technical around it
After a successful long trade this is my outlook on current USDZAR market .
the price just reached all the targets of the daily pennant. ✔ extremely overbought ✔ extreme daily gain ✔ = good opportunity for taking shorts