Usdzartrade
USDZAR - double top emergingWill the double top pattern prevail?
I have marked key levels where I will be using price action to look for clues.
Follow me on Telegram messenger using the link below for more details when the trade goes live
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 Key level pinnedFX:USDZAR
I have been waiting to see how price will react to the 14.00 level. Now a candle has pinned the level signalling the bears.
Entered a short at market price @13.93618 with:
*Stop loss above the wick where I feel this setup would become invalidated @ 14.10325
*Take profit placed at the support of the swing low to the left @ 13.65440
Don't bet the farm, always exercise good risk management
USDZAR shortFX:USDZAR
1. Lower highs formed
2. Resistance holding
3. Consolidation at resistance (bulls out of steam?)
4. 200ema broken
5. Targets from 14.11 to the 13.90's
SL 14.63030
TP1 13.90285
TP2 13.60857
TP3 13.37187
Entered at market price 14.33650
Possible short on USDZARFX:USDZAR
1. Lower highs formed
2. Resistance holding
3. Consolidation at resistance (bulls out of steam?)
4. Targets from 14.11 to the 13.90's
Looking to short when the time is right, more details to follow...
USDZAR setting up for a possible short FX:USDZAR
Ah, I have been watching this pair for a couple of days and it looks like we may just have a possible short setting up.
* Price is currently in a down trend in the bigger picture
* Hanging man (hammer at resistance) candle completed (sell signal)
* Bearish candle currently printing (needs to close bearish for confirmation of sell signal)
Should this move play out we could see price hitting the 13.85 level and possibly lower
Essentially a sell stop under the hanging man and confirmation candle can provide an ideal entry.
