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BRICS currencies movement for the week – 16 October 2020A strong week for the US Dollar, with most Emerging Market currencies coming under pressure. Also look at my US Dollar Index Idea here: Despite the USD strength, the ZAR remained resilient, having some of the best relative BRICS currency performance for the week. BRICS currency/USD movements for this week: Brazil -1.9% Russia -1.1% India -0.6% China 0.0% South Africa -0.5% Euro /USD -1.7% Technically, the ZAR broke and close the week off below all four the 8-, 21-, 50- and 200-day Exponential Moving Averages (EMA), which over the shorter-term, might provide some further momentum in the ZAR. If this was a false break and we see the ZAR break and stay above the 200-day EMA (at R16.61) this week, we could see it move back to the 50-day EMA at R16.76. A break and close above this level could see the USDZAR test the diagonal resistance level at R16.85, with a break and close above this level, most probably bringing R17.10 back into play. With the runup to the US Elections, this (USD Strength) in my view can only happen if the momentum swings back from Biden to Trump, which at this stage seems highly unlikely. The 14-day RSI is not in oversold territory yet, which will have me optimistic should the USDZAR break and close below R16.50 early this coming week. Momentum is turning and very much moving back into the favour of the Rand, which tend to make me believe that we might just be testing the R16.10 levels again over the shorter-term. Watch the US Dollar Index early this week. Should you be contemplating any short-term long positions in the ZAR (short USDZAR), I would only look at doing so below 93.20 on the Index.
by SchalkLouw
3
Don't Trade USD/JPY Before You Looked at These Factors!Trading is all about buying low and selling high. Here on this USD/JPY technical analysis I will explain what you need to take into account if you want to enter a trade. First of all, I want to highlight the previous idea that was incredibly successful on USD/JPY using these same principles: In this idea it is important to note that the price is not near any horizontal zone at the moment. I suggest to wait to get a better risk reward on your coming trade. The buy low and sell principle is all relative and defined by the current information available. I define low and high as the horizontal resistance zones. For our short position we want to reverse the logic and sell as high as we can, in this case near the zone of horizontal resistance. Follow me for consistent high quality updates, with clear explanations and charts. Please like this post to support me. - Trading Guru -------------------------------------------------------------- Disclaimer! This post does not provide financial advice. It is for educational purposes only!
Short
by Trading-Guru
5
Nas100 TP3 hitNas100 trade TP3 hit! With our stocks strategy we work to a TP3 target. The entry price, SL and multiple TPs are shown on the chart. Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter. What is our strategy? Our strategy is a trend following strategy, can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time frame, so we can back up over 4200 previous trades to confirm our edge from previous data. This gives us confidence in execution and belief in our trading strategy for the long term. The strategy simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and multiple TPs (although we hold until opposite trade as this is the most profitable longer term plan), lot size, etc. This could be on your phone trading view app, or laptop of course. The hard work is done, so we have zero chart work time, no analysis, no time front of the chart doing technical analysis - technical analysis is very subjective - you may see different things at different times - how do you have a rigid trading plan on a H&S shoulder pattern? Your daily routine, diet, sleep, exercise can affect what you 'see' and your decision making, this doesn't happen when a strategy is coded like this; what we do have is a mechanical trading strategy... What does this mean? It means, we are very clear on our entry and our exit and use strict risk management (this is built in - put in your account size, set your risk in % or fixed amount and it will tell you what lot size to trade!) so we have no ego with our position and we are comfortable with all outcomes - its simply just another trade. This free's our mindset from worry and anxiety as we take confidence from knowing our edge is there and also that we have used sensible risk management. The strategy itself can be used as a live trading journal too - how cool is that? The strategy will confirm and support every open and closed position - so its quite easy to follow. We just have to do what Percy does. Please see our related ideas below for more information to explain what we do and how it can help you.
FX:NAS100Long
by pow_removetheguesswork
US500 - approaching TP3S&P500 approaching TP3 With our stocks strategy we work to a TP3 target. The entry price, SL and multiple TPs are shown on the chart. Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter. What is our strategy? Our strategy is a trend following strategy, can be used on any instrument and time frame. However, we have hard coded specific parameters for when trading the H1 time frame, so we can back up over 4200 previous trades to confirm our edge from previous data. This gives us confidence in execution and belief in our trading strategy for the long term. The strategy simply sits in your trading view, so you will see exactly what we see - the trade, entry price, SL and multiple TPs (although we hold until opposite trade as this is the most profitable longer term plan), lot size, etc. This could be on your phone trading view app, or laptop of course. The hard work is done, so we have zero chart work time, no analysis, no time front of the chart doing technical analysis - technical analysis is very subjective - you may see different things at different times - how do you have a rigid trading plan on a H&S shoulder pattern? Your daily routine, diet, sleep, exercise can affect what you 'see' and your decision making, this doesn't happen when a strategy is coded like this; what we do have is a mechanical trading strategy... What does this mean? It means, we are very clear on our entry and our exit and use strict risk management (this is built in - put in your account size, set your risk in % or fixed amount and it will tell you what lot size to trade!) so we have no ego with our position and we are comfortable with all outcomes - its simply just another trade. This free's our mindset from worry and anxiety as we take confidence from knowing our edge is there and also that we have used sensible risk management. The strategy itself can be used as a live trading journal too - how cool is that? The strategy will confirm and support every open and closed position - so its quite easy to follow. We just have to do what Percy does. Please see our related ideas below for more information to explain what we do and how it can help you.
ULong
by pow_removetheguesswork
USDCAD | SWING - 4 Oct. 2020Hello my friend | Welcome Back. Please support this idea with LIKE if you find it useful. *** After breaking the downtrend and retesting the broken area, we will notice a new rise to Fibonacci level 0.61. *** Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied. Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts. *** The information given is not a Financial Advice. BTCUSD Apple GBPUSD EURUSD XAUUSD AUDUSD EURGBP NZDUSD USDCHF USDJPY
Long
by Saeed966
16