USDZAR- SELL strategy 4 hourlyI have underestimated the strength of the move, even though direction was fine. the pair is usually quite aggressive either direction, and that is why best to sit back until confirmation appears.
When we consider GANN resistance, and the high reached, we may see that there is a likely hood for a return back towards 18.2000 short-term. the stochastic is negative and the RSI starting to become.
Strategy SELL @ 18.45-18.55 (yes wide range and we have no choice this time) and take profit @ 18.2350 for now. The stop-loss suggesting a financial one that fits your budget.
USDZAR trade ideas
USDZAR-SELL strategy 4 HourlyThe pair had a strong run upwards, and my previous update suggested we reach 18.28, but I felt yesterday to exit @ 18.1500 as being enough fun.
Now we are overbought and above GANN resistance, which should not last, since it was to strong and quick movement. Great for profit taking, but everything comes to an end one day.
Strategy is SELL @ 18.2700-18.3200 and place stop-loss above 18.3650 for now. Profit order somewhere @ 18.0500.
USDZAR-BUY strategy Daily chartThe pair does not seem to stay down, and the wide range we have seen advises us to play with larger P&L moves. That is why leverage should be low. Stochastic is positive and we broke resistance of the channel once again.
Strategy BUY @ 17.70-17.85 and take profit @ 18.27. Stop-loss perhaps below 17.4800 for now in line with the profit objective.
USZAR-BUY strategy Daily chartThe weekly chart suggest we will see recovery upwards, but no confirmation as yet.
The daily chart has a range downward sloping channel between 17.2900 - 17.8350 area.
We are turning positive weekly chart stochastic, and the daily chart is, and AO is negative.
Strategy I feel, BUY @ 17.40-17.70 (yes, I know wide selection, but no choice) and carefully place yourself. Stop-loss below 17.2700 and take profit @ 18.38-18.45 area. Unfortunately, the pair has been trading dramatic either side, and just keep GOLD in mind. The chart on GOLD suggests we may see little lower gold price at first.
USDZAR-RANGE strategy 2-HourlyThe pair had moved up, but speed was unexpected. It stalled @ 17.9800 area, and if one would have used the 2-hourly, one would have been short after stochastic breakage.
The range we trade within is very wide, and makes it difficult for trend trading, but noting daily chart still sees potential 18.4500 and higher. The 2-hourly chart suggest we see little lower again, back towards 17.4700 area and strong support 17.4000 now. Gold is steady, and this should assist in being LONG the pair, if one chooses to be. Cloud resistance @ 17.7800 for now.
Strategy based on 2-hourly chart is RANGE trade within the space of 18.00 and 17.40. I would prefer to BUY at lower levels @ 17.50-17.55 area and take profit @ 17.9800. Daily chart should BUY between 17.50-17.75 and take profit @ 18.3700.