JSE:MTN price has broken out of a bullish pennant pattern that formed over the last month or so. It seems to have retraced a bit since, so we will have to wait and see if the trade gets triggered.
USDZAR strong move to the upside 18.50 and as high as 20 rand in on the cards
The dollar strength following Friday’s strong non-farm payrolls print continued in yesterday’s session which allowed the USDZAR pair to break through the blue 50% Fibo retracement rate of 17.61. The pair seems to have lost some upward momentum after hitting a high of 17.70. The rate of 17.61 will swing from a resistance to a support and a break below it will allow...
On the 1st of Feb the price on JSE:ABG broke out of the ascending triangle it has been trading in. It has since retreated and gone back into the triangle. It seems as though it is currently retesting the levels at the apex of the triangle. If it breaks through the triangle again, I believe we will be in for a nice long position. The target would be around the 227 level.
The upward momentum seems to be fading as we await the open of the US session. The orange 23.6% Fibo retracement at 17.50 is a strong resistance and psychological rate for the pair and I don’t see it giving way before the major Fed event tomorrow. Over the slightly longer term I’m bearish on the rand after the pair broke above the key 50-day MA level at 17.15 and...
A short position has triggered on JSE:AGL based off of the signals from the stochastic, MACD and EMA cross. We are looking at a target at around the 619 level.
A short has been triggered on JSE:ANG based off our momentum strategy. we expect it to reach the target at the 317 area.
JSE:OMU has broken out of an ascending triangle that has been forming since late Nov 2022. If it continues up, the trade will be triggered with a target around 1375.
The bearish engulfing on JSE:GLN seems to be playing out quite well so far. Along with that, the stochastic and MACD have both turned downwards, so once the EMA's cross in a downward direction, the momentum strategy will also be triggering and alert on this one.
JSE:ARI is showing all of the signs for a possible short position based on our momentum strategy. If it continues downward, the trade will be triggered and we will be looking at a target around the 250 level.
Hi people welcome to Team Decrypters We are expecting sell limit of ours to play for 60-100 pips atleast rest details are on the chart
VELOCITY:USDZAR is showing signs that it might be heading downwards. Although none of our indicators have crossed just yet, if the price action continues downwards we could be looking at a nice downward move. I have set the take profit to 1:2 Risk to Reward. I think that is pretty aspirational, so if the trade is triggered, I will monitor it and adjust the stop...
Please do not use these as trading signals What do you think is it going up or down ? I still think the $dollar is going to crash hard
The pair broke to the upside of the 50-day MA yesterday despite minimal loses in the DXY which shows that the move was largely based off rand weakness, yesterday. The 50-day MA will swing from a resistance to a support rate and I'm looking to catch a buy entry off the re-test of the 50-day MA, currently at 17.15. Short-term take profit zone between the 38.2% fibo...
It took a while, but the long position on JSE:MTN was finally triggered with yesterday's price action. Today's move is looking good for a continuation to the upside. Target at the 146 level
JSE:VOD has triggered a long position. This is based off of the stochastic, MACD and EMA's crossing upwards. We are looking at a target at the highs from the end of July 2022.
forming Ascending Channel In daily Tf And Got Rejected From Channel Resistance Rsi Printed Bearish Dirvergence Wait For Macd Crossover To Enter Expecting Lower Channel Line To Be tested Incase Of Breakout Will Crash Further
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