Get started

USDZAR

Sasols big break still ahead ... A few more times will add to this analysis tomorrow, I'm also looking for just some stability but for now here is some of my charts. What I tried to show with the USOIL and USDZAR is that both of them benefits Sasol the higher they are. However the news of the vaccine shot up oil future and the markets overall. Along with the election and the Vaccine news 1) The rand strengthened to its best since Covid started, to the dollar , 2) The Oil future rose by almost 10% So we know and saw what the effect of people being uncertain has on some stocks and how even the slightest news can ease their concerns and we see stocks rocket like we did. As always the sellers were waiting for just their moment but looking at the chart the high sell off did not last very long and the number of shares shows to more institutional traders who took profit looking at DOM while the action was happening. Getting back to my chart of the US OIL and USDZAR, We see them diverge, normally people are more reactive on USDZAR value but it looks like others news have taken over for now. So we are sitting with a much better oil price than a while back, the USDZAR has already started moving in the other direction. If the Oil price could meet the USDZAR up higher as not only analysis but even looking over the last few days clearly shows is on its way again, then we are clear for a really new target. For those sad of todays or yesterdays losses...Relax some of us have been on the Sasol train for ages and markets. Remember that Moderna, Regenatron and many more vaccines will be announced over the next month or two, expect another breakout to happen more than once...just be ready at any second. I have personally set my take profit to R133 and stop loss to R79. Will update on the full charts tomorrow or as soon as possible. Tomorrow is quite important in seeing the short term to medium term trajectory. Rudi Roelofse
JSE:SOLLong
by rudiroelofse
6
USDZAR 15.38290 -1.22% LONG IDEA * PRICE ACTION & CONTINUATIONHEY EVERYONE Here's an idea on the DOLLAR / ZAR which broke out of the descending channel structure pushed down with the bears now looking for some correction of this move before continuation with the bears as the pair is overbought on most indicators. as always for entries we scale down to smaller time-frames to determine entries and so forth. many stars must align with the plan before executing the trade, kindly follow your rules. LET'S SEE HOW IT GOES.. HAPPY TRADING EVERYONE & LET YOUR WINS RUN... _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES here's some of my rules if they help. 1. look at structure be it descending channels, pennants and so forth. 2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation. 3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term. 4. aggressive trades can be executed on the pull back 5. price action must definitely align with the plan.' 6. structure definitely 7. the 20 EMA must be respected as support / see a bounce at this structure 8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S . 9. CANDLE STICK PATTERNS. so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan. RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Long
by PULEMokhothu
South Africa’s recent reportsThe pair will break down from a major support line, sending the pair lower towards a key support line. South Africa’s recent reports were mixed with a lower trade surplus and a high Manufacturing PMI report. The trade balance report on Friday, October 30, showed the country’s surplus for September adding $33.51 billion, lower than the prior month’s $38.70 billion. However, the manufacturing sector has been expanding with 60.9 points against the previous record of 58.5 points. On the other hand, figures from the US’ latest reports were better-than-expected. Investors are also looking forward to the result of the US election today, November 03. Analysts expected that a win for Joe Biden will be beneficial for South Africa as the country considers China as one of its largest trading partners. Biden is expected to be more accommodating to China while it will be more skeptical of Russia’s growing influence. The opposite is true for Trump.
Short
by Financebroker