has entered down trend; two entries top of resistance or breakthrough of support
Continued USD strength will see a test of 17.00 In the meantime; Buying here requires a stop loss below 15.50 or 15.00 So rather sell 16.15 and reverse above 16.36 TP1 15.65 for 1.7:1 reward:risk TP2 14.66 for 3.8:1 reward:risk In reversal moves into 16.93 give 2:1 reward:risk
details in the chart! TARGETS in GREEN SL in RED but only MANUAL, maybe in lower time frames..,
LONG TRADE : Entry : BUY @ 15.8630 Target : 16.3000 Stop : 15.7000 Risk Level : LOW RR ratio : 1:3
SHORT TRADE : Entry : SELL @ 16.1460 Target : 15.7790 Stop : 16.4444 Risk Level : LOW RR ratio : 1:2
Bearish cypher to enter now. Strong bearish divergence on the RSI. Profit target is based on Fibonacci levels and is 15.44830 as an initial target and then 15.29297 as a second target. Stop loss is based on previous structure, which isn't great for this trade.
Price has found some support and is currently ranging. There is bullish divergence on the hourly, 4 hourly and daily chart which could help our long position. On the fundemental side, today President JZ speaks which might also give flight to our buy. Based on past instances, JZ always made the rand weaker when he spoke.
We traced out a "bullish flag pattern" soon after testing supports at around 15.25 levels. We've received the confirmation on next candle with big real body at 15.7238 levels resembling flag pole again. This what we call it as a "decisive break" because it is observed as robust volumes build up while breaking supports (see grey shaded rectangular...
Good morning, USDZAR seems ready for a drop . I´m entering short at MKT with SL @ 16.15 . If you want to play safe you can wait till breakout below 15.64 You can subscribe to my mailing list for FX Alerts : eepurl.com Good luck Josep Pocalles
SHORT TRADE : Entry : SELL @ 15.5680 Target : 15.2650 Stop : 15.6495 Risk Level : LOW RR ratio : 1:4
I'll buy when the correction will be finished. High R:R
Price is currently finding support on the daily and four hour charts. The last candle closed with bullish intentions.We also have have bullish divergence and proce is over sold. All this indicates that price will be move up. It could reach next resistance point and if it breaks that we could see it move higher.
The pair is currently in a compressing channel with a regular sinus wave (see period that oscillate between 22-25 bars so far) . It is too early yet to bet on what's going to happen but a breakout is one possible scenario. If this occurs during the next half-wave, we may see a price heading towards the weak part of the cloud and then objectives given by the last...
SHORT TRADE : Entry : Enter @ 16.0600 Target 1 : 15.9500 Stop : 16.1250 Risk Level : Low RR ratio : 1:2