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.
we can short usdzar on 4H chart when
harmonic pattern complete .
thargets and stop lose on chart .
his is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So please make your decision...
Fundamental Quant Score: +33
- Retail sales grew to 1.2% showing consumer confidence in South Africa
- PPI breached forecsats by 0.1% which is healthy for producers
- Interest rate decisions had no signs of dovish action so investor money flow should continue flowing into South Africa
- Trade balance showing a huge surplus
- Daily Sell...
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:AMS has broken through an ascending support line and formed a bearish harami pattern.
We will be looking at a short position, but be aware of the support level around 73000 as it might stall there for a while before finding direction again.
JSE:DSY has broken out of a symmetrical triangle in conjunction with a break out of a descending resistance line.
There is also a fractal that has formed on the top of the candle of the 30th of May.
If it breaks through this level of the fractal, I will consider a long position.
Fundamental Quant Scores dipped to a negative -3
- Continuuing Jobless claims increased by 6,000 suggesting more US citizens are claiming credit to help support their lifestyle.
- Latest GDP for Q4 showed a less than forecast outcome missing it by 0.2%
- Pending Home sales a huge leading indicator dropped to -1% when forecast to stay above 0
With the break of the current resistance, USDZAR is set for 15.50 and a possible 17 later this year! The light blue structure indicates a possible formation which will delay the rally but will still be of bullish nature and have the same end result.
Resistance and support are specified
The time range is specified
The price is stuck between resistance and support
Be very careful about your movements;
The probability of completing the pattern is to drop
JSE:ANG has formed an evening star pattern which is a top reversal signal. I will wait for it to break below the 18th of June's candle.
After a preceding up trend, 2nd real body must be above the 1st and 3rd candle bodies. The 3rd candle must close below 50% of the 1st real green body. Colour of the small 2nd real body doesnt matter.