ZARJPY trade ideas
more likly this market will create a sell if we can hold sell for 1 month than more likely we can hit the target
ZAR JPY BUY (SOUTH AFRICAN RAND - JAPANESE YEN)Hi there. Price is forming a continuation pattern to the upside. Wait for the price to hit the bottom of the pattern and watch strong price action for buy.
ZAR/JPY is bearish at 4h chart!!!I see a bearish rising wedge and divergences on histogram for Zar/Jpy.
You can sell Zar/Jpy now or you can wait for an inclined support of rising wedge to be broken.
Profit Targets:
8,0
7,81
**If the support of wedge is broken, our ultimate profit target will be 7,1.
Rising wedge example:
i.investopedia.com
Stoploss:
8.4
Trade with less leverage(5x,10x) , this is a long term trade.
Have a nice day,
Berk
ZARJPY: Approaching the Resistance.The price action has been narrowed down from a Channel Up to a Rising Wedge on 1D (RSI = 63.891, MACD = 0.106, Highs/Lows = 0.0795). Technically every pull back up to 8.000 is a buy towards the 8.550 Resistance (ext. 8.876).
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ZAR/JPY 1H Chart: Rising wedge in sightThe ZAR/JPY currency pair breached a long-term descending channel north at the beginning of November. The South African Rand has been depreciating against the Japanese Yen since the end of August. This movement has been bounded in a rising wedge.
Currently the exchange rate is testing the resistance level formed by the Fibonacci 50.00% retracement at 8.23. Given that the pair is being supported by the 55-, 100– and 200-hour SMAs, it is expected that the pair target the upper wedge line located circa 8.46 in the nearest future.
If given wedge holds, it is likely that a reversal south occurs within the following trading sessions.
Looking for selling this correctionI expect one more bottom test before dropping or price will form a ABC.
Short on Head and shoulders as it finish last legThis is my first attempt to publish a trade using trading view. Any constructive comments are very welcome.
Upside down pennant and analysis.Brief analysis on possible upside down pennant forming. Price seems to be rebounding off a solid floor with lower high candle wicks. This is not part of my trading strategy, but chart analysis that I like going through. Nothing too complex.
ZARJPY: Extreme scenario based on recurring patterns.This pair has been trading on a very long term bearish pattern on the 1M chart (RSI = 44.631, MACD = -0.196, Highs/Lows = -0.1826, B/BP = -0.8800) and the neutrality on the 1W chart (5 indicators) suggests that a High has been reached. The bands appear to be widening for the supports, so we are short with TP = 6.700.
ZAR/JPY SHORTEntry: 7.810
Target 7.410
Stop: 8.010
R/R: 2
Simple setup: Rejected at trendline, stoch RSI overbought, stop above 7.95 resistance
Long Zar, Short YenLong:
//Kumo bounce on daily and 4hr . Entry above the hammer on the daily with stop few pips below hammer.
<> Need to break the fractal at 7.963
<> TP target at flat SSB 8.432
<> My multi-indicator script here
