After hitting the 100% Retest zone, USDZAR returned to the MARKET GLITCH STRUCTURE, providing us with another opportunity to make additional entries. More entries will be opened when the market the c-re-entry levels and more money will be made.
The rand has surpassed my expectations recently and reminded me that the USDZAR pair tends to take the stairs up, and the elevator down. The risk-on swing last week allowed the rand to keep the pair below the 200-day MA resistance rate of 18.80 which saw the pair fall back onto the psychological rate of 18.50. The downside break out of the blue wedge thus...
Looking at taking long positions given that the the USD index continues with gain and GOLD drops in value.
We are trading around the inner 4H/1H DEMAND AREA and we can see x2 Bullish reversal candle patterns from our 1H cahrt the Bullish engulfing pattern and the beraish pin bar. Now we are looking at a rally in price to our LTF supply area. We have to keep me...
The pair moved little higher on the back of GOLD decline.The stochastic is positive.
We are still protected by GANN resistance, and also still outside the ascending wedge, suggesting we may see lower levels later on, is my personal view.
Strategy SELL @ 19.1750-19.2150 and place SL above 19.3150 and take profit @ 18.9350.
The first entries are to be opened at the current price, with the hope that we will get the most out of that movement.
We looking forward to the movement giving the most.
As noted previously, the SL had been placed fine, an d re-instated SELL @ 19.3100 area. Now we have declined sharply and stochastic is negative. we are attracting the 18.9000 direction based on GANN angle.
For now, we may have SOLD new (at the time I provided an analysis) at 19.2500-19.2800 area and now we are taking profit around 19.0150.
For new strategy...
The previous update on daily chart was a BUY strategy and worked out well. Profit order done @ 19.1750 area.
Now we are becoming overbought and regression channel suggests we may see a movement between 19.9300 and 19.4100 on top side. the stochastic is negative and therefore I see potential test of 19.0000 again
Strategy SELL @ 19.2575 - 19.3150 and take profit...
The pair is looking a BUY on daily chart, and range for BUY needs careful consideration, using 4-hourly as well. GOLD supports the likely chance for a stronger up move over time.
Stochastic is positive, and judging historical context, we have a chance to test 19.0150 and maybe we reach 19.2500 again.
Strategy BUY between 18.6150-18.7300 I feel. SL below...
The SL was right to have, and reinstating at 19.3100 area, unfortunately was outside on the way and not being able to provide that idea. However, we are starting in a decline mode, but would prefer careful entry at the selected level.
Strategy SELL @ 19.2500-19.3000 when seen again and place SL above 19.4150. Profit order now @ 19.0150 area.
The rand has been able to weather the storms of the broad-based stronger dollar thanks to the spike in precious metal prices however the rand did stumble at the back end of last week following the higher-than-expected US CPI print. The critical rates to watch on the USDZAR pair is the 61.8% Fibo rate of 18.97 and the 200-day MA rate of 18.75. I expect the 200-day...
The pair has made a wonderful climb and the daily chart suggestion worked out well as we reached that objective. Now the 4-hourly chart is starting to feel heavy on upside.
The stochastic is negative last few sessions already.
Strategy SELL @ 19.0200-19.0750 and place SL above 19.1550 for now. Profit order @ 18.8350.
This week on USDZAR bulls were having 100% chance of applying enough momentum for then to dominate the trend, since the sentiment have confirmed, we now gonna close buy orders.
This week on USDZAR bulls are having 70% chance of applying enough momentum for then to dominate the trend, since the sentiment have confirmed, we now gonna open pending buy stop orders on the c-re-rentry level as displayed on the chart.
Dolla looks like it is gaining strengh this week . based on technical analysis my price action shows a 90%rule that the USDZAR should reach before falling but let's patiently wait for it
