EURZAR trade ideas
UPDATE !! SHORT EURZAR another great sell signal 🦐We have been in this trade since long but the market seem to make a further bearish move.
The price found a resistance area at the 0.382 of the fib retracement and it currently stay above it.
If the market will manage to break the resistance structure, at the resets we can look for a short order with a target around the 0.5 retracement area and possibly 0.618 for a nice r/r.
For the one who kept the trade since our first call they can set a trailing stop around 19.23 area and move the tp to the 0.5 fib.
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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 Plancton0618 strategy will trigger.
EURZAR updateShould be up in profit if you entered my alert last week. I'm still short EURZAR long term. it's a slow mover
EUR ZARContrary to most of the trader's opinion, symmetrical triangles are not always continuation patterns, they can also act as market tops.
EUR ZAR completed a symmetrical triangle top pattern last week, since then it has broken down from it and now it's back to the previous support zone that should now act as resistant.
This setup provides a 3 to 1 R trade to take.
EURZAR another great sell signalEURZAR another great sell signal, the price creates the recent price structure. We are waiting for retesting and according to Plancton's strategy we can set another sell order
entry?should I have entered the trade as soon as emas crossed and mad=c d went below zero after the red candle touched the entry this morning?
UPDATE !! EURZAR on a retest 🦐After our last call, which already trigger with a nice profit, we can look again for the one who missed it at a 2nd chance to enter in market.
The price retrace at the 0.5 fib level of the previous leg and we could even expect to see a further move up to the 0.618 fib level (around 19.676) level for a retest of the resistance structure.
If the market will give us a hint of inversion we can look for an opportunity to enter with a short position according to our signal.
For the one that are still holding the previous position we can expect the market to make a new move to the downside.
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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 Plancton0618 strategy will trigger.
EURZAR: BUYThe dotted blue lines indicate zones where market reactions are likely to occur. be it corrections, reversals etc.
Descending correction If a confirmation of a sharp candle has been Identified short term short can be taken up until the next support from the left side. wait for conformation candle and jump right in after.
EUR/ZAR UpdateHere are some levels to watch for. I don't recommend entering a sell if you missed the move as this pair can move extremely fast (500+ pips in a day).
I will update if I see a potential re-entry to short.
