PULL YOUR PANTS DOWNWe can see marked out on the chart a strong area or support and resistance, we are expecting price to make its way into this zone and when it does we will be looking for a buy... Patients is key in trading and if you don't have any the markets will pull your pants down and shove a rather large hard object somewhere that might hurt.
In this game if you rush into trades you might as well just burn your money ( or give it to me as burning really is wasting it ) my bank details can be provided on request ;p
Just remember not to chase trades and instead let them chase you... a little bit like playing kiss chase as a kid, you didn't want to chase the ugly kids ( bad trades ) but if the good lucking kid ( good trade setup ) came after you then you would suddenly forget how to run and take the kiss ( pips/ money ) like a trooper haha.
I know I have an unorthodox way of explaining trades and setups, but I'm just trying to make things more fun, so I hope you like them :)
If you like my style then drop a comment in the comment section and let me know.
USD-ZAR
USDZAR Bearish wedge inside of bearish wedgeLooks like a potential very nice setup here. With the big wedge on the left and the low time frame one on the right. So i am going to follow this one closely, to see if we find some resistance at the high while staying below the red zone. Because this one has long term potential, i am going to build up a pos here. So starting small and building it up on the way down after real confirmation.
Past 2 trades on this pair played out perfect, following basic TA better than others. So with some patience this one could work out greatly as well.
Previous analysis:
USDZAR Potential Bullish ReversalTrade Background:
Not much to say here due to the nature of the trade being a short one and relying solely on technical analysis.
Trade Idea:
Positioning: Buy
Time frame: 1H
Length of Trade: 1 day to 2 days
Entry: Between 14.5000 to 14.5400
Stop: 14.5000
Exit: 14.7600
USDZAR: Sell opportunity after a Resistance rejection.The pair is pulling down on the 1D chart and has reached its pivot point (RSI = 50.729, CCI = -28.2213, Highs/Lows = 0.0000). This should accumulate some buying pressure to take it slightly higher only to be most likely rejected again towards the 12.90 - 13.87 Support Zone. We are short with TP = 13.900.
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USDZAR 1:4 Risk Reward SHORT (Fundamental Analysis)USD Fundamentals
Fundamental Quant Scores dipped to a negative -3
- Continuuing Jobless claims increased by 6,000 suggesting more US citizens are claiming credit to help support their lifestyle.
- Latest GDP for Q4 showed a less than forecast outcome missing it by 0.2%
- Pending Home sales a huge leading indicator dropped to -1% when forecast to stay above 0
- More gas supplies suggests less capital efficiency and more asset storage, so less vehicles are being used, manufacturing is slowing down and is bearish for GAS which can also affect CAD
ZAR
Fundamental Quant score +33 shows bullish signal
- PPI increased to 0.3% showing South African Producers are bullish of the ZAR
- Interest Rates stayed the same with no signs of change, suggesting investors from abroad can take advantage of their high interest rates.
- Retail sales on 20th grew by 1.2% showing a strong consumer population
USDZAR approaching resistance, potential drop! USDZAR is approaching our first resistance at 6.88562 (horizontal overlap resistance, 61.8% fibonacci extension, 61.8% fibonacci retracement) where a strong drop might occur below this level pushing price down to our major support at 6.79766 (horizontal overlap support, 23.6% fibonacci retracement).
Stochasticc (55,5,3) is also approaching resistance where we might see a drop.
USDZAR short term short and long term longThis one made a big rally the past weeks, even getting above that green zone on the left without hesitation. Now it has some resistance from that channel, but because the move up was so strong, it is becoming more likely that it will break sooner or later. Normally we should see it make a healthy correction first the coming week or so. On the right we can see a possible double top, normally it should stay below the green zone. The max should be around the red zone.
Previous analysis:
USD ZAR SHORT.... like my temper ;pYou can see we have a well respected trend line and a strong resistance level, currently price is nearly at these so we can only see price movement to the downside.
Again look how clean and and clear we keep our charts... remember simplicity is key... F#ck all the so called GURUS telling you that you have to use 200 indicators and follow there holy grail strategy that they have got FREE off the internet in-between w#nking off to p#orn in his mums basement!!!