Trading Ideas
USDZAR - Next move expectation
Wed, 17 Jan 2018 16:14:22 -0600
USDZAR has been in a controlled consolidation since end of December. Now price is retesting support zone. Based on the completion of yesterday's DAY candle, it looked like there was a possibility of moving to the higher portion of in the consolidation area. Instead, today there has been more bearish price action. Based on price action, I don't see (Long-Term) much supporting evidence of a meaningful correction &/or a reversal. Although it very well could happen, price action is indicating further price pressure. With that being said, I want to see substantially more supporting evidence before entering short at this level confirming support break w/ down trend continuation. Even with the price action today, USDZAR could be building up momentum to at least test the upper level of the consolidation range. I would go short if price moved up close to previous entry point. assuming it was supported by the price action at the time. It may even provide a better entry point. Charts at the time of this post for reference: 1M: 1W: 1D: 4H: 1H:
Wed, 17 Jan 2018 14:57:11 -0600
we can sell if price break trandline . or when price retest resistance
USD/ZAR 1H Chart: Pair points to bullish momentum
Wed, 17 Jan 2018 07:18:15 -0600
After reversing from the 2017 high of 14.60 mid-November, the US Dollar began trading in a steep channel down against the South African Rand. However, its movement during the past three weeks has been sideways in a flat descending channel. This suggests that the prevailing bearish momentum might weaken during the following weeks, especially when taking into account that the Greenback fell down to its lowest mark since mid-2015 early today. The pair should push towards the upper boundary of the junior channel near the 12.50 mark within the next two weeks. Meanwhile, technical indicators suggest that the Greenback might fail to overcome the 200– and 100-hour SMAs circa 12.35 on its first attempt. In this case, the pair would be pushed lower towards the 12.20 prior to realising the aforementioned bullish scenario.
USDZAR Long Opportunity.
Mon, 15 Jan 2018 10:22:20 -0600
Bullish Gartley and Bat formation completed on USDZAR. Though it already moved away from the PRZ, it still provides a good risk:reward ratio of more than 1:2. Targeting R12.50s.
Sun, 14 Jan 2018 11:14:10 -0600
short 50 cents lower
Sat, 13 Jan 2018 11:48:10 -0600
Fri, 12 Jan 2018 04:49:27 -0600
USDZAR - analysis and future potential trade set up
Thu, 11 Jan 2018 14:13:57 -0600
The daily shows price consolidating before next move. See charts below 1M: Last two months, extremely bearish price action. At support, but continuation would be expected. Potential for pullback or retracement. 1W: End of November, I was expecting a retrace and continuation uptrend (arrow with "X"). Did not occur. 2nd week of December invalidated that analysis. Now, support is currently holding and USDZAR looks oversold. It could retrace and retest the support, or this could be a brief pause (without any meaningful retracement) before bears continue to drive price down. There is a lot of room to the down side after this support zone. Bottom Line/My Expectations: - I expect the down trend will continue. - While there could be a pronounced retracement, I'm not going to anticipate one. Confirmation and a very favorable R/R would be required to go long. It would also be a short-term trade. - Another short-term long trade would be a bullish reversal candle(s) in the bottom of the consolidation area (~12.298 - 12.241) - Anticipating a consolidation breakout to the downside is on the table. In fact, if i would have caught it 1-2 hours ago, that would have been a nice short entry. It would have allowed a 1/1 R/R if price got stopped at support and allowed for a tremendous entry point if support failed.
USDZAR long in day chart
Wed, 10 Jan 2018 20:04:15 -0600
Now USDZAR looks like it can't down any more, if with DXY pullbacking, ZAR will follow up. setup: entry:12.4055-12.4057 tg1:12.775
Wed, 10 Jan 2018 06:09:10 -0600
USD/ZAR is currenlty in a bear flag and could break on positive political news in South Africa. First target 11.80, a long term 50% fib retracement. Next target 10.50 long term 61.8% retracement..
USDZAR Targets 11.2750 and 10.3850 in 2018
Tue, 09 Jan 2018 05:52:38 -0600
Rand strength has seen USDZAR on the backfoot lately. Of interest is the failure to break above 12.50. So looking at the weekly there are two ways to read this. 1) We have seen an equal legs ABC correction into the 12.38 level. Problem with this is the absence of a pin bar at the lows of end Dec 2017 and the first week of Jan 2018 2) We have a head and shoulders pattern and based on the break of the neckline we have a target of 11.2750 (with 10.3850 in extension depending on your view of what the historic USDZAR high really was). A weekly close above 13.75 negates Reward:Risk on a short trade of 1.24:1 is not great given downside Rand risk. Rather if seen, 11.27 and 10.38 are good levels for long term long USD/ZAR trades
Mon, 08 Jan 2018 22:52:00 -0600
Breakout pattern of daily support & counter trendline. Heres a signal for those of you who trade the exotic pairs. I will try this one out this one time ; )
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