Looking to make another sniper entry here.... then scale in. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. Patience and risk management are always key #Trade_Like_A_Magnate
As anticipated last week, USDZAR did go for a trendline retest, gave us a rejection, we made an entry and held. This is the progress now. Profits have been locked in order to have a risk-free trade. *Disclaimer* This is not financial advice. Forex trading is a risky business. Trade at your own risk. #Trade_Like_A_Magnate
The original idea was posted yesterday. *Disclaimer* This is not financial advice. Forex trading is risky. Trade at your own risk. #Trade_Like_A_Magnate
USD/ZAR will have a correction this or next week. Heavy resistance at this level and monthly fib at 15.0267. Market psychology took this pair too highe due to political uncertainty and covid. We are familiar with extended trends with respect to covid. ZAR is heavily correlated with metals and bonds, especially lower yields will be bullish for ZAR, higher base...
Current pullback risks to resolve to another leg down. It is strange enough since the bigger picture in cross-asset field is negative (long USDZAR usually) but the picture is the picture. I consider that as a point of weakness and abolish trap so I fully prepared to short it.
Analysis done on the weekly timeframe. As you can see, USDZAR is in a clear downtrend. I expect price to come up closer to the trendline before ultimately heading down again. I have identified several key support and resistance levels from the weekly TF also. This is just my analysis, i've never actually traded any exotic pairs. If anyone has any advice or tips...
Medium-term bullish trend still seems to be intact for the USDZAR, after its recent weaknesses (strength in the US Dollar). It currently finds itself back at the 50-day Moving Average (EMA), with a break and close below R14.07, bringing back the strong support level at R13.95. This is a strong support level, with a break lower, most probably bringing back R13.50...
usdzar looks very bearish, a bearish close on the 4hr timeframe will see usdzar going down to 13.81 zone.
We may expect more down USDZAR seems to more more bearish.
The pair failed to move out of the blue consolidation range as it was capped by the 30-day MA. The 30- and 50-day MA range is a major resistance range, I don't see it breaking past it. Exporters and month-end trades have pushed the pair above the 20-day MA but this bout of dollar strength will be short lived. Target range between 13.80 and 14.00. Daily RSI is also...
HELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE DOLLAR / ZAR. * LOOKING AT THE DOLLAR ZAR FROM HIGHER T/F LOOKING FOR DIRECTION, STUCTURE & SENTIMENT WE SEE THE PAIR HAS BEEN TRADING IN AN ASCENDING CHANNEL RESPECTING STRUCTURE TO AN EXTEND. * POSSIBLE SCENARIO 1 - WE COULD SEE A BREAK BELOW / FAKE...
Looking like a solid H&S pattern on 4HR forming. Currently long from 14.80, looking to unload at around 15.12 Will be opening a short position from around 5.18 and will be closing around 14.70 Lets hope this plays out -FreddyFlamingo
Hello team, we currently spotted a head and shoulders at supply. with a great risk to reward shorts are recommended. kindly leave a comment
Looking for further USD weakness Reward/Risk: 2.38/1 Entry: 14.5041 or at a higher price Stop: 14.7600 Target: 13.9300 Quantitative Models > Narratives