USDZAR H4, Is it time to buy?
Updated
I posted a long idea on Tuesday, price completely disrespected that daily trendline support.
Today, and as of now, we are currently on the H4 descending trendline which is a good long opportunity to the M30 timeframes 800 exponential moving average.
Today, and as of now, we are currently on the H4 descending trendline which is a good long opportunity to the M30 timeframes 800 exponential moving average.
Trade active
- Price successfully touched the 800 ema on the H4 timeframe @ 16,70. - Still respecting the H4 descending trendline to bounce to the upside.
- DXY currently on the 78.6 fib H4 for a long meaning usdzar should go up.
- South African unemployment rate forecasting 35% vs previous 29.1%
- At 9:30am (+2 GMT)
- Brokers switched negative swop charges to long instread of short, thats how they make their profit for swing traders
My suggesstion : hold your long positions to either trendlines
Trade active
- Price clipped the inner trendline at 17.27- Pirce hit the 800 ema on M30
- Price still needs to touch the H1 800 ema.
- Currently on the m15 support trendline
- DXY creating an inversed h&s pattern for a long
Bias - Still holding my longs to 17,60 maximum.
Note
excellent! what a trade and worth the holdcurrently looking at shorts 16,47
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Till the next trade.
God bless everyone
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