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ZAR/JPY

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ZARJPY trade ideas

10 things to know about trend lines10 things to know about trend lines : 1- They connect two candles minimum. But more is always better, because the more candles there are, the stronger the trend. 2- They can be of 3 types: bullish (pointing up), bearish (pointing down), directionless (drawn horizontally). 3- Trend lines can be traced either on the closing price or on the candlestick wicks. It is up to the trader. 4- They can be visually represented as a line or a zone. 5- When two parallel trend lines are drawn on either side of the same candle, you get a channel. It is a 2D representation of the trend. 6- A trend line is invalidated when it is broken by either the wick or the close of a candle. 7- There are many possible trend lines. The objective is to identify the most relevant of them. The ones that will best predict the price movement. 8- Trend lines can form graphic figures. Each of them will have a specific meaning. 9- Trend line analysis is not 100% reliable. Each trend line has its own probability of success or failure. 10 - The effectiveness of a trend line evolves with the passing of time. It is necessary to constantly update them to remain in phase with the market.
Education
by ForexGoldenBoy
Jogging moodHave a good trading week, folks🔥 There is an analysis update of ZAR/JPY forex pair. It seems like reversal head and shoulders. There was a strong bearish sentiment. According to Elliott Waves theory all the waves are done and now price is heading to the breakout. So follow the chart and look for the breakout carefully. _____________________________________________________ If you enjoy my FREE Technical Analysis , support the idea with a big LIKE👍 and don't forget to SUBSCRIBE my channel, you won't miss anything! Feel free to leave comments✉️ And always remember: "we don't predict, we react".
Long
by Berzerk_invest