Pound for pound, GBPZAR!Hello Traders
I have never been a big fan of candle formations but I saw this as I was scrolling through my FX watchist, seems like a perfect cup & handle to me.
Good luck
ZARGBP trade ideas
sellafter two phase now is in profit phase hence we are now looking for sell to the resistance level
Forex Profit Set-Up #1; Buy GBPZAR - D1 Time-FrameThe UK economy has accelerated at the end of the second-quarter with the service sector clocking in at its fastest growth rate of 2019. Against a backdrop of a South African economy which is facing a deepening economic crisis, the GBPZAR is expected to resume its rally. Price action retreated from the lower band of its horizontal resistance area, enforced by its primary descending resistance level, and has now reached its next horizontal support level supported by its primary ascending support level. A move into its horizontal resistance area is now anticipated and buying any dips from current levels remains the favored trading approach.
The CCI already moved out of extreme oversold conditions and the rise in bullish momentum is likely to carry this technical indicator above the 0 mark from where more buy orders are favored to enter the market. Open your PaxForex Trading Account today and join one of the fastest growing communities of profitable forex traders!
GBPZAR Breaks 20DMA and sits at area of strong S/R 50D MA Lies below. Today's close should add some further colour as to likely direction from here.
GBPZAR broke through the 200 SMA (Weekly)Formed a Cycle High, 4 weeks into a possible 25 week cycle until the next Cycle Low.
Support will be in the area of 17.25, indicated by the yellow support line.
GBPZAR WeeklyGBPZAR is getting ready to take a nice short
sell stop : 18.37500
stop loss : 19.04000
take profit : 17.35000
#GBPZARSupport and resistance are identified
The green areas are Target
Pink areas are strong for the price
The pattern is broken
Time range specified
GBP/ZAR Big Move potentially!Price has reached and tested downward trend line and has slowed down in momentum reaching it, on H1 time a smaller trend line has been respected. Waiting for a break to enter!
Let me know what you think!
GBP/ZAR: Daytrade-Opportunity#WEEK 34 Nr. 11Hey tradomaniacs,
welcome to another free signal!
How to trade: 1. Wait for the break below the horizontal support and wait for a retest.
2. If we reject and the horizontal support and see an S&R-Flip - SELL.
3. Latest point to reduce your risk is as soon s you have warned your risk.
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Type: Daytrade
Sell here: 18,60549
Stop-Loss: 18,70444
Target 1: 18,50334
Target 2: 18,45556
Target 3: 18,40812
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Peace and good trades
Irasor
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Wednesdays FOMC Decision in Focus - TR#315 Summary BOJ, FOMC and BOE all have interest rate decision this week so we should see some volatility over the coming days. There's a potential C wave setting up on Dxy which will star a short move on the Dollar provided the FED remain Dovish.
This is not investment advice
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Steve Nixon
logicfxtrading
GBPZAR shortOANDA:GBPZAR curious how i trade so accurate??
Hit me on whatsapp : +989357332798
Don't forget you found me on tradingveiw
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GBPZAR 5TH WAVElooking for an upwards impulse on gbpzar to indicate the start of the 5th wave. could move on the news of new prime minister. If it breaks below the trend line I will wait for correction for downside.
06.07.19 GBPZAR OutlookGBP has been in a strong downtrend all year.
Broke a long lasting trend line at 18.35 which is just under 38.2 fibs level
Price is testing 61.8 Fibs on Daily and
17.26 PRZ tested on Aug 18th 2018 & 4th Feb 2019 is a long standing support - major/minor ?
2:2 pattern would price go to 17.04 @ 78.6 Fibs
06.07.19 GBPZAR OutlookGBP has been in a strong downtrend all year.
Broke a long lasting trend line at 18.35 which is just under 38.2 fibs level
Price is testing 61.8 Fibs on Daily and
17.26 PRZ tested on Aug 18th 2018 & 4th Feb 2019 is a long standing support - major/minor ?
2:2 pattern would price go to 17.04 @ 78.6 Fibs
Long term short
Short term buy
