MCG on the up?JSE:MCG is showing signs of great upward momentum. The stochastic and MACD indicators turned up last week and the two EMA's crossed in an upward direction yesterday as the final trigger for a long trade. We could see a love up towards the 12500 resistance level, and if it breaks through that level, we could potentially see it going all the way towards the previous highs at around the 14000 level.
ZAR
WHL - Downward MomentumJSE:WHL has ticked all of the "indicator boxes" to signal a short trade. The EMA's crossed on Friday last week which was the final trigger sign along with the Stochastic and the MACD crossing downwards a few days earlier.
Today, so far, the price seems to be slightly up, but if it breaks through the lows formed on Friday, I will enter a short position.
ABSA - Bearish Engulfing off of Ascending ResistanceJSE:ABG formed a bearish engulfing candlestick pattern on 1 September which is a top reversal signal. What makes the signal stronger is the fact that it it coincides with the resistance level from the current longer term up-trend.
The MACD, Stochastic and now the EMA's are also showing signs of downward momentum. I think we could possibly be looking at a move down towards the 13500 area before turning back up again.
ARI - Possible Short positionJSE:ARI is showing some good downward momentum based on the stochastic and MACD and the EMAs which are about to cross downwards. I will wait until we get absolute confirmation from the EMAs before entering, but if it breaks lower than the low of today's candle so far, we should see a cross.
Potential Bearish Flag on ANGJSE:ANG made a string downward move early in August. Since then it has been consolidating in a slight upward direction. Although not confirmed yet, this might be the formation of a bearish flag pattern. If it breaks through the bottom of the consolidation area, we could possible see a downward move as far down as the length of the original flagpole. I will wait for confirmation first before entering.
Naspers upward MomentumJSE:NPN is showing good signs of upward momentum based on the stochastic, MACD and EMA's. It is also trading in a downward channel at the moment, so I would think that it has potential to make a quick move up to the top of the channel, but if it breaks through, I think we could see it go all the way to the resistance level at around 320000
What to do with the rand?? for a South African citizen, global assets are essential given the fact that the South African market only constitutes around 1% of the global market whilst the South African economy constitutes 0.4% of the global economy. Simply put, South African need exposure to assets which are susceptible to short term movements in the Rand.
The chart shows the ZAR/USD exchange rate in blue and the local financial index in orange. For the most part they tend to have a negative correlation. In other words, if the rand strengthens, South African financials tend to do well and vice versa.
We can see that the long-term trend for the rand is towards a weakening bias. In the short to medium term, movements in the rand impact the ability to show South African investors a good return on foreign assets. in other words the currency factor increases volatility for a Rand investor or at least someone who spends their money in Rands (retired investors).
South African financial are showing cheap valuations which discount the financial turmoil that South African consumers are facing. Therefore there's a low base effect which needs to be factored in (possible repricing of the shares). On the other hand SA financials are also discounting the fact that there ability to grow their earnings is perhaps less than desirable. Select financials are likely to be better performers based on the merits of their business however, from an overall financial wellness perspective, the index is not all that attractive over a 12-18 month period. The question is, will this help support a bottom range for the Rand at around R14 to the USD? If so, the risk of an extreme strengthening event hitting the rand is probably closer to 20% - 25%.
Does this potentially support the fact that the rand should be weaker in the next 12 - 18 months?
The clear and obvious unknown to this scenario is that if the commodity cycle continues and indeed accelerates, South Africa's income statement and balance sheet become marginally healthier and therefore could result in a re-rating in the Rand and local financials.
Its important to understand that it not about trading the rand but rather trying to quantify its downside risk from a Rand investor looking to offshore assets.
If one was able to close their eyes and forget the volatility in the currency, well then problem solved however, investor behaviour doesn't allow for that...
Please like and follow. Please also share your views on the trading ideas and whether or not you find them to be of any value to you as a trader.
Please note, this idea is shared for educational and discussion purposes only and should not result in speculative investment decisions in any asset class.
Glencore showing signs of downward momentumJSE:GLN is showing signs of downward momentum based on the indicators of our momentum strategy.
The EMAs crossed in a downwards direction yesterday while the stochastic both crossed downwards the day before.
I think we could see a move down towards the previous support area at around 5780
USDZAR - Long Term Lookout ForexHi Everyone
Been a while since I've posted on my account here! I felt like doing something different today (other than crypto) after someone asked me about USDZAR / Forex.
Even if you're not into this specific trading pair, watch the video anyway, I mention some really interesting points that you can apply to your other chart pairs like fib time zones etc.
The Fractal / Wyckoff Method:
The Fractal demonstrating effectiveness of Fibonacci for time zones:
The new fractal and accompanying Fibonacci time zone:
Watch for 3 price targets before Feb 2022.
Let me know your thoughts below,
BlockTechEv
EURZAR on a channel break 🦐EURZAR on the 4h chart created a triple top below a weekly resistance.
The price is currently testing the ascending channel trendline over a daily support and according to Plancton0's strategy if the market will break below we will set a nice short order.
–––––
Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
IMP breaks out of consolidation zoneSince mid-May, JSE:IMP has been struggling to make lower-lows and found itself in a sideways consolidation period. With yesterday's upward move, it has broken out of the top of the consolidation zone. If the momentum continues, we could see a move up towards the 30000 resistance level.
USD/ZAR:PRICE ACTION+FIBO ANALISYS|DOWNTREND|SHORT SETUP🔔The forecast for the USD/ZAR turned bearish after this currency pair lost upside momentum. Traders should expect a rise in volatility as bulls and bears wrestle for control.
Welcome back Traders, Investors, and Community!
Check the Links in Description and If you LIKE this analysis, Please support our page and Ideas by hitting the LIKE 👍 button
Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this.
Feel free to request any pair/instrument analysis or ask any questions in the comment section below.
Have a Good Day Trading !
Old Mutual - 200SMA Bounce with upward momentumJSE:OMU recently bounced nicely off of the 200 Simple Moving Average and started to in an upward direction. It is also showing signs of great upward momentum so I think we could be looking at a nice upward move towards the previous resistance level at around 1480
Bullish Flag on Purple GroupJSE:PPE had a nice upward rally at the beginning of June followed by a slightly downward consolidation period. Because of these moves, we have seen the formation of a bullish flag pattern. A bullish flag is a continuation pattern, therefore the expectation is that the price will continue upwards once the breakout has happened. So far this morning a breakout has occurred, but I may be inclined to wait until Monday before entering a long position. If you take the length of the "flagpole" into account the target for this trade should be around 190.
GBP/ZAR:SWING FIBO RETRACEMENT UPTREND|LONG SETUP 🔔The forecast for the GBP/ZAR remains bullish after this currency pair finished a minor correction.
Can bulls take advantage of upside pressures and force the GBP/ZAR into its next horizontal resistance area?
Check the Links on BIO and If you LIKE this analysis, Please support our page by hitting the LIKE 👍 button
Traders, if you like this idea or have your own opinion about it, please write your own in the comment box . We will be glad for this.
Feel free to request any pair/instrument analysis or ask any questions in the comment section below.
Have a Good Day Trading !
BID possible shortWith today's price action so far, JSE:BID seems to be showing some good downward momentum. Based off of the EMA's crossing today as well as the stochastic and MACD moving downwards it looks like a downward move is on the cards. I predict that it could move down to the 28000 support level which would coincide with the support level around the 200SMA.