EURZAR trade ideas
EUR ZAR (possible long entry - possible to be a VERY big trade)This is another easy and straight forward setup. This appears to be an Elliot wave 5 wave fractal pattern. It seems to me that we are probably in wave 4, though I do not think wave is finished yet. Wave 4 likes to finish near the top of wave 1. We should be in the ABC/complex correction of the minor waves. We are in a small uptrend that is actually a bear flag in the overall bigger picture. However, it seems we still have upside potential. I will be looking for price to breakout of the counter trend line, probably near the current support level, then ride the counter trend line down to the false break zone near the very bottom trend line. We have stronger support here, the top of wave 1, and an expected place for the bottom of wave 4 to rest. From here it is a long way up to the conservative take profit just before the top of wave 3. If wave 5 is not truncated we can expected a much much bigger move past wave 3 and off of the screen shot. Massive pips can be made off of this trade.
supply and demand zone.after price has broken above the demand zone and broken the down trendline: a re-test to the support/demand zone will be the area of interest for me.
EURZAR - Development of another push to the upsideWe had a nice breakout indicative of a momentum shift. We can now expect price to pull back and relief before taking it for another push to the upside. This will certainly on my watchlist.
Trade safe!
Sunny Kumar
EURZAR LONG TRADEI am going Long on EURZAR after seeing price reject a daily support level and on the 8 hour chart I see one of my favorite candles to trade, the inverted hammer. I got in later than I wanted but still think the pair is going to make a strong move up.
EURZAR BUY after the break out at fib level 0.618. I I I will wait for the price to drop at my next fib level 0.786 than im going long after a bullish confirmation. Everything on the chart speaks for itself.
EURZAR @ A Resistance ZoneEverything is all about Structure ............Price Dancing around Covid Gap.......
EURZAR analysis 31/12/20 - Current momentum is clearly bearish but it is sitting at/near weekly and monthly support hence sells will be considered short term of moderate/high risk.
Buys should only be considered once price breaches weekly resistance with strong momentum. Then we wait for a nice continuation pattern to confirm further upside.
Have a great new years!
Sunny
EURZAR on a double bottom 🦐EURZAR on the 4 h chart created a double bottom over a weekly support structure at 18.05000.
The price then bounced and created a nice bullish impulse.
IF the market will break and close above the resistance structure we will set a nice long order according to Plancton's strategy.
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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.
EURZAR LONG TRADEPrice is printing some bullish rejection candles off of support. I will be going long and targeting previous Daily resistance.
EURZAR POSSIBLE BUYPer our chart, EURZAR may retrace about 500 pips up, before a massive fall based on the weekly and monthly charts.
