GBPZAR
Retest of the trend line break. Short.I mean I cant be the only one that see's the bears are looking for this setup. Adding shorts here.
XAUUSD 8000 pip target4D Timeframe, Gold has not reached its highest price yet. Highest price is 1670.90
GBPJPY SHORT, 380 pipsOn the daily timeframe, price broke the channel and retested an important Fibonacci level (61.8). To execute this trade we have to wait for a break and close under 141.427 because it was our previous resistance and now acting as current support. Our take profit will be set at 137.583 which totals up to 380 pips. Stop loss will be set at 148.243
Analysis on GBPZAR 1.11.2019The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 19.7000
• Take Profit Level: 20.0000 (3000 pips)
If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 19.4500
• Take Profit Level: 19.4000 (500 pips)
GOLD
A possible long position at the breakout of the level 1515.00
EURUSD
A possible long position at the breakout of the level 1.1180
USDCHF
A possible short position in the breakdown of the level 0.9850
GBPUSD
A possible long position at the breakout of the level 1.2980
GBPZAR UpdateThis trade went well, can risk some profit here to ride it back down. Target hit and now bearish ABCD.
Use a tight stop loss.
Good luck traders
Last trade here:
Pound for pound, GBPZAR!Hello Traders
I have never been a big fan of candle formations but I saw this as I was scrolling through my FX watchist, seems like a perfect cup & handle to me.
Good luck
Forex Profit Set-Up #1; Buy GBPZAR - D1 Time-FrameThe UK economy has accelerated at the end of the second-quarter with the service sector clocking in at its fastest growth rate of 2019. Against a backdrop of a South African economy which is facing a deepening economic crisis, the GBPZAR is expected to resume its rally. Price action retreated from the lower band of its horizontal resistance area, enforced by its primary descending resistance level, and has now reached its next horizontal support level supported by its primary ascending support level. A move into its horizontal resistance area is now anticipated and buying any dips from current levels remains the favored trading approach.
The CCI already moved out of extreme oversold conditions and the rise in bullish momentum is likely to carry this technical indicator above the 0 mark from where more buy orders are favored to enter the market. Open your PaxForex Trading Account today and join one of the fastest growing communities of profitable forex traders!
