In my view, I suspect that with the double top forming (after the close of the four hourly candle), this paid could be falling to the next Support/Resistance area.
This is my view, what do you think?
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...
First let me preface this by saying I am always a student of the markets. My analysis is an educational study and is for demonstration and study purposes only. We must study the market closely and understand that market conditions are subject to change. Thus, I say, as always, perform your own analysis and trade at your own risk. Always use proper risk management....
# Ascending triangle pattern spotted
# Breakout of resistance and retest as support
Buying at market price 14.15580
# Stop loss below support at 14.04748
# Take profit higher up below resistance at 14.50171
As usual don't bet the farm, good risk management won't kill you but the lack thereof could :)
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Confluence of a few factors:
1. Downward trend line serving as resistance
2. Bearish engulfing candle pattern (sell signal)
3. Pinning 21 SMA
4. All happening at 14.13959 short term resistance
I am selling at market price with
#Sl just above the bearish engulfing @ 14.18403 and
#Tp lower down at previous demand zone around 13.85317
As usual don't bet the...
Trade Alert
USDZAR recently failed to make a higher high, instead, it made a lower one.
We may see another small push lower, especially if the pair breaks and closes approximately below the 14.3415 level. For now, continue monitoring the price action and keep an eye on the highlighted potential breakout zones.
Please see the chart for details.
Don't forget...
Here is my idea about the USDZAR based on my trading system.
hope this helps and I'll be happy to hear about my mistakes!
Target: 0.4%
Stop Loss: 0.2%
Risk/Reward Ratio: 2
Hey tradomaniacs,
welcome to another free signal!
Instructions: We need to wait for the market to break below the trendline again! After that we can place a sell-order!
-----------------------------
Type: Swingtrade
Sell-Limit: 14.28553
Stop-Loss: 14.39170
Target 1: 14.13445
Target 2: 14.01953
Target 3: 13.94713
-----------------------------
LEAVE A...
On the chart above, we have an unfolding pattern , my recent new favourite pattern called the Quasimodo Pattern.
Reasons For Entry :
- Currently Trending About The Demand Zone
- Local Low Broken
- Lower Low Forming
Wait for the breakout off the Resistance for the Lower Highs of the current bearish skewed rectangular trend then enter to BUY towards the QML area...
Following the poor economic data, South Africa's enters a Recession.
The TVC:ZA10Y looks bad, and we are due to get a 0.25bps increase to 6.75% or the Rand will be in a real free fall.
The TVC:SA40 also looks like a sell setup.
Contagion from Turkey and Argentina is also making this "Short" problematic, but for those who wish to sell a "carry trade" asset from...
Monthly: Fair price Trap
Daily: Inverted Head and Shoulder, broke above Resistance at 14.38187
1hr:Support turned resistance tested and held, Buys at Support 14.38187, coupled with strong dollar Index.
The pair is pulling down on the 1D chart and has reached its pivot point (RSI = 50.729, CCI = -28.2213, Highs/Lows = 0.0000). This should accumulate some buying pressure to take it slightly higher only to be most likely rejected again towards the 12.90 - 13.87 Support Zone. We are short with TP = 13.900.
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Double bottom formation at key level in the market. Note the strong wick rejection (doji) around the key demand zone, as circled. Price will pull back some and it will take some time for this idea to come to fruition IF it does. I put my stop loss beneath the double bottom for a low risk to reward trade set up. Please see linked idea below to follow from start....
The U.S. Dollar vs. the South African Rand. The Rand was and became legal tender in the late 50’s to early 60’s for South Africa, Swaziland, Lesotho and Namibia after moving away from the Pound. After the apartheid era sanctions the Rand experienced a great deal of volatility and depreciation.
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