Hello everyone An idea on the POUND / ZAR pair that has been trading in a descending channel hitting LH & LL heading down with the bears looking for a continuation of this move with the trend, the pair is currently trading at 38.2 % Fibonacci. TARGETING 61.8 % Fibonacci in the coming week. let's see how it goes HAPPY TRADING...
Placing a long trade here for the day, will close before 22:00 BST today to avoid slippage on the weekend. NFP results are today so trying to stay clear of USD Not many technicals really line up on the 1HR for a long or short, however, the candles indicate uncertainty and the price history indicated it may long within the support/resistance. 4HR indicate the...
GBPZAR: BRITISH POUND / SOUTH AFRICAN RAND H1
Confirmed break and retest of this triangle on the 4 HR, lower blue box is the final target/measured move. -Nick
Looks like the price may be reversing after a sell-off Stochastic oscillator is suggesting the market is oversold MACD & signal line crossing to indicating a price reversal Histogram on MACD is showing buying volume coming into the market Price is currently sat a support line 4hour chart indicated the same as the above
Never say never.
Continuation of the downtrend Candles have been uncertain overnight and now indicating volume coming in possible bearish reversal candles and clear confusion whilst side trending
GBPZAR: BRITISH POUND / SOUTH AFRICAN RAND 1H
GBPZAR: BRITISH POUND / SOUTH AFRICAN RAND 1H
Be patient, and keep eyes on this indicator. IF (and only if) price comes to selling zone, then it is also at an important resistance level , it seems in a good short setup. Remember that price action is important to conform reversal ( double top , shooting star , evening star ....), and watch the RSI divergence carefully. If the pattern is violated, then setup is...
Be patient, and keep eyes on this pair. IF price comes to selling zone, then it is also at an important resistance level , it seems in a good short setup. Remember that price action is important to conform reversal ( double top , shooting star , evening star ....)