Richemont finally breaks out of consolidation areaJSE:CFR has been trading sideways in a consolidation area since early Jan and it has really struggled to break through the resistance around 15000. With yesterday's price action it broke out of the top of the "buy-box" and it is looking promising for an upward move. This is a new all-time high, so, with no existing resistance in sight, if it continues upward, I would be surprised if it goes all the way to the 16000 level.
ZAR
USDZAR testing the structure 🦐USDZAR on the 4h chart is testing the support area after the test of the 0.382 Fibonacci level.
According to Plancton's strategy if the price will break below we will set a nice short order.
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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.
Bidvest longJSE:BVT is showing signs of an upward move after a successful short position. Link below. Based off of the momentum indicators, we could be seeing a move to the upside. I would keep an eye on the trendline that it broke through recently as it might cause some resistance if it reaches that level.
Clicks long if trendline brokenJSE:CLS is showing signs of upward momentum based on our trend-following strategy. However, it is struggling to form higher highs and break the down trend that it has been trading in for the past month or so. If it breaks this trendline, I will consider entering a long position.
USDZAR bounced over a monthly support 🦐USDZAR after a few tests of the monthly support starts an impulse and currently is consolidating below a minor resistance area.
According to Plancton's strategy if the price will break above we will set a nice long 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.
BHP Struggling with support levelAfter a nice short position, JSE:BHP seems to be struggling to break through the support level at around 42000. If the price action continues upward, I will consider entering a long position. we could potentially see a Head and Shoulders pattern forming in the coming weeks as well.
BHP - Break of trend lineJSE:BHP has broken through an upward trendline that it has been adhering to since October 2020. If the current candle closes below this line and continues down, we could be looking at a move downwards. Along with this, the stochastic, MACD and Moving Averages are all showing signs of downward momentum.
SASOL - Short if trend is brokenJSE:SOL is showing all the signs of a direction change based off of the stochastic, MACD and EMA's. I will however, only enter short if it breaks and confirms below the trend line that it has been adhering to since the end of October last year. Once this is confirmed, I think we could see a nice downward move for a while.
Exxaro - downward momentumJSE:EXX is showing signs of a possible downward move. The stochastic and MACD both turned downwards last week and with yesterday's downward move, the two EMA's have crossed downwards, signalling a short opportunity. We might see some resistance around the 15000 level, but if it breaks through that, we might be able to set our sights on around 13300 support level.
USDZAR testing a monthly support 🦐USDZAR on the 4h chart break below the minor support area and now is testing the stronger support over an ascending trendline.
According to Plancton's strategy if the market will break below we can 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.
Leave a comment that is helpful or encouraging. Let's master the markets together
USDZAR testing the structure 🦐ON the 4chart USDZAR is moving over an ascending trendline.
The market hit and got rejected by a resistance level and now testing the support area.
According to Plancton's strategy if the price will break above we can set a nice long 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.
USDZAR to the upside #SWINGWith clear formation of a double bottom and price rejection our confirmations have been ticked.
We would want to seek entries upon retest or around R15.50 via pending order to swing to the upside.
Fundamentals are directly relate to this, essentially a positive NFP will bring in massive bulls and vice versa - Trade with caution.
All the best.