Bearish Engulfing on ABSAA bearish engulfing candle formed on JSE:ABG on Friday. With this morning's price action, we have been triggered into a short position. The stochastic and MACD are also confirming this move.
ZAR
CLS - Breakout of consolidationJSE:CLS has been trading in a sideways consolidation zone since early May. With the price action on the 16th of Aug we finally broke out of the sideways move. If it continues up, I think we could be looking at a nice long position.
UJI placed trades earlier here, because my day was so busy. I couldn't post the forecast I had but I longed for 57 pips and TP hit. Just waiting for more opportunities.
BTI - ShortWith today's price action we have been triggered short on JSE:BTI . If this momentum continues and it breaks through the 665 level, we could see it reaching our target at around the 600 level.
USDZAR BUY | SMALL RISK HUGE REWARD | INSTITUTIONAL**Risk-to-Reward** 1:15
Buy USDZAR @ 16.71524
Stop Loss: 16.66264
Take Profit: 17.50500
Use the Risk-to-Reward Visual Trade Levels For Risk Free Trading
***I personally am trading a 100k account so I focus on 10 total Pairs excluding Crypto daily, risking .25% per trade position aiming for anywhere from 1%-3% gain.***
I am an institutional style trader and I go with the order flow of the market noticing price action more than anything and technicals are always last because throughout my 7+ year trading career I learned many styles and lost a lot of money chasing profits instead of understanding the psychology of trading and emotional intelligence it takes to not trade, but to make consistent profits and not risk my own hard earned money. Hope you take the advice and follow my trade ideas for more I cant post everything but my will be posting them on various platforms for before and afters.
***Correlates With USDZAR***
Long on WoolworthsWe have entered a long position on JSE:WHL based off of the turning of the stochastic and MACD as well as the crossing of the 3 and 15 EMAs. The target for this trade is the 63.50 level which coincides with the highs from September 2021.
REM - LongWe have entered a long position on JSE:REM based off of the turning of the stochastic and MACD as well as the crossing of the 3 and 15 EMAs. The target for this trade is the 154 level which coincides with the highs from March 2022.
CAPITEC LongWe have entered a long position on JSE:CPI based off of the turning of the stochastic and MACD as well as the crossing of the 3 and 15 EMAs. The target for this trade is the 230 level.
Potential short on NaspersAn upward trendline ahs been broken on JSE:NPN as well as the stochastic and MACD both turning downwards. This could mean that we could be seeing a downward move if it breaks lower. Be cautious, though, as the markets have been extremely volatile lately.
NED - Bullish EngulfingA bullish engulfing has formed on JSE:NED . This could mean a reversal to the upside.
GRT - potential longJSE:GRT is showing signs of an upward move. If it breaks higher than 1330, I'll enter a long position.
BTI looking good for a shortThe Stochastic, MACD and the 3 and 15EMA's have all crossed downwards on JSE:BTI which are all good indications of a possible short position. If it breaks lower than the opening of this morning, I will enter short.
USDZAR, The Cup and Handle Pattern CompletedUSD broke above the upper boundary of the cup and handle pattern on the USDZAR chart.
We can long the pair with the target that is equal to the pattern's height.
Stop-loss should be below today's lowest point.
Large Engulfing CandleA very large engulfing candle has formed on JSE:NPH . It has engulfed at least the last 6 candles which makes it a stronger signal. So I think we can expect an upward move from here.
Harami on WoolworthsA Harami candle pattern has formed on a support level on JSE:WHL . This candle pattern potentially indicates a reversal, so we could see a move to the upside from here.
#USDZAR Breaking outThings not looking good here for the ZAR. Dollar strength is most certainly not helping the ZAR's cause, but eskom is adding 'fuel' to the fire.
I have approximate targets of 17.10 and then 17.90 for the Rand on the confirmed break of the resistance around 17.20 - 17.30.
USDZAR Pull-back or break-out buyThe USDZAR pair has been trading within a Fibonacci Channel since June 07 2021, with one break-out to the 1.382 extension. At the moment it is supported by the 1D MA50 (blue trend-line) and is attempting to break a Lower Highs trend-line. A closing above it should be enough to test the Resistance Zone. Only a break above the 1.0 Fib can justify further buying as a break-out signal to the 1.382 Fib extension again. Until then, it is safer to wait for a pull-back, which is common for these Lower Highs (dashed line) patterns within the Channel. Either above the 0.786 retracement level or near the bottom of the Channel.
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USD/ZAR LongUSD/ZAR pair has been moving bullish over the last few weeks. Looking at the daily time frame. It is now consolidating in a bull flag right in the middle of the channel at resistance after retracing to the 0.618 fib level. With a good breakout of the bull flag resistance should be broken and become support.
I am looking to enter upon the break out and close above BOTH the flag and the 16.1148 resistance level. Doing this would make it highly probable to complete its move to the top of the channel which is the 0.618 fib extension at just over 17.500.
Kumba - short We have entered a short on JSE:KIO based off of the stochastic, MACD and EMAs all pointing downwards. Aiming for the 377 level for our target.
Short entered on SBKA short has been entered on JSE:SBK based off of our momentum indicators. We are aiming for a target at around 12300 or adjusting the stop loss accordingly as the trade moves downwards.
NPH - ShortA bearish engulfing formed on JSE:NPH as well as the crossing down of the stochastic, MACD and EMAs. All of these are signs for a short position.
ABSA - ShortJSE:ABG is looking good for a short position. All 3 momentum indicators have crossed downwards.
