The weekly chart is still in an uptrend, and I emphasized before in a chart how the bearish divergences are buying opportunities
The daily chart shows an inverted H&S, a false breakout below the support from the right shoulder, green impulse, and bullish candlesticks. Considering the chart stands at value on the weekly chart, this is a very good moment to get...
USD/ZAR has been up trending for the last two years with the precision of a Swiss watch. The current bullish channel is still in play and the pair is about to test the lower bound of it after two failed attempt to break above the 11.3388 resistance line. Here are the reasons why rebound is soon due:
Fundamental background:
The Dollar is still supported by the...
Another divergence study, this time on USDZAR. Divergences on the weekly chart calls only for corrections. On the daily, there have been some reversals, some more profitable than others.
The triggers for this study were bullish/bearish candle, blue impulse. No other factors taken into consideration.
There were 26 triggers, 16 were profitable, 2 signaled for...
The longer term chart is the main reason for taking this trade.
On the daily chart price rejected the support zone at 10.8, and the impulse is green. This is enough for me to take a trade.
Some profit taking should be done at 11.38, but price usually gets attracted by the all time high, so I expect this to go and at test 11.84. Considering the dollar strength,...
USDZAR is reaching all time high, we are not too far away from historical highs.
This make me believe that we are at the end of the road and a strong inversion would take place.
USDZAR pays positive swap, make it a nice carry trade opportunity.
This is a very long term trade, but if it works, well, it will be pretty massive opportunity!
Three months ago a posted this idea
that suggested a low was just around the corner.
This turned out to be right.
We are now in the process of completing wave X in a complex correction
or wave (A) in a flat.
This market should trade a bit higher into the 11.10-25 area
before dropping.
A break above 11.55 (wave C=A*1.618) would invalided this idea.
Follow all...
Long term view of this pair. Sell on a retracement to 10.6222 targeting 9.72390.
Short conviction is that the breakout from the upper channel crossed below its 50% mark. So assuming that the retracement to this 50% level will hold, it should pave way for further downside moves.
A complex and mature 3 waves decline is coming to an end.
The market closed todays candle as an inverted hammer.
This count is vaild above 9.70.
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Good luck!
UPDATE:
I shared this count last night via twitter
but was to tired to post an idea here.
twitter.com
The market has completed 3 waves to the downside,
where the first wave was a complex triple correction,
the second a zigzag as well as the third.
As 10.35, and more importantly 10.20, holds,
I will expect new highs well above 11.40.
You can follow all my...
Been very constructive with 2012 p/a. local adjustments (data, c/a, cb minutes) and relief rally from oversold, moving into Sell in May and go away events that lasts until fall, it matches up with a lot of other analogs across different asset classes from currencies, equities and commodities.. Plus => sentiment... people get really bearish way too early.. still,...
The price maybe heading to an adjustment phase, after the major parabolic rally. Signs of technical exhaustion on price and momentum favors further downside correctional bias, and a potential short to medium term trend reversal.
Short Position:
The Gartley pattern just completed, giving us a high probability trading opportunity.
This is supported by:
* The fact that the gartley pattern completed at the down rending resistance line
* Completed at our upper the long term structure
We could have seen the end of several short, medium and long term cycles at current levels.
we can also see fib conflunce at these levels.
The extended RSI divergence is common before major tops.
The weekly shooting star acting as resistace for now (look below)
