SHORT SHORT SHORT We are going short on this trade ( if you hadn't gathered that by the title ) after a bounce of a well respected resistance level in the weekly, daily and 4H timeframes.
NFP is today so whatever you trade the trade carefully and reduce risks by moving SL into profit where possible.
Usdzarsell
Going Balls Deep13.46895 is a key resistance level that will be respected, and with the 2 added trendlines ( purple arrows are where price has previously touched and respected these lines ) we can see no other direction other than down with this pairing, so we are in a sell position at the moment but we have a tight SL just above our resistance level just incase resistance is broken.
Sometimes with such a strong setup you have to say f#ck it and risk that tiny bit more.... Go BALLS DEEP ;p
And yes we do expect you to take us for a drink if you take this trade haha.
USDZAR - strong resistance - SHORTNot much to say, everything on chart.. short for quick profit
1. Very strong resistance on fib levels, getting rejected everytime
2. long term bullish but enjoy the small dip expecting to 0.5 or 0.618 level dip
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Regards,
Vinny
USDZAR might head downUSDZAR seems to consolidate on resistance now
It might drop to the psychological level of 13.000
In next 2 weeks
Be careful in trading this pair, its very dangerous
It can make you lot of money and it can take you lot of money
Trade with proper RM/MM and money Management
Good luck guys
ZAR to strengthen - bearish trend to continueThe South African Rand seems to gain some traction against the greenback. It's expected that the South African Rand will strengthen to approximately R12/$. There is a possibility of a retracement to the support turned resistance at 13.2000 level which also corresponds with a 50% Fibbonachi retracement level on the 4 hour chart. If it doesn't pull-back, I'll short when it passes through 12.9000 again
USD ZAR explosion about to happen (Post trump inauguration)1 To go up if markets already priced in trump uncertainty post press conference.
2) To go down (forecast is actually conservative so, expect even lower reaches) if market hasn't priced in trump uncertainty.
Trump has no real policies and markets may see this when he's confirmed.
2 seems most likely but things have been a bit weird around trump, so expect 1 as well. Moves to start Friday and to take off Monday.
USDZAR short term sell idea.The Daily chart shows a bullish convergence. We now need at least a double wave retrace before price wil complete the second part of this double wave cycle.
Price reached 100% FE of the last cycle upwards exactly on a strong Daily resistance level and potential divergence. As long as this resistance holds look for sells aiming 50% FR of the last cycle.
Sell the breakout of the yellow TL targeting 14.8.
SL 2 pips + spread above last high.