unclearsince SA doesn't have a goverment the investors are panicing therefore the zar will lose some weight. let's continue to monitor it for the next 10days
ZARUSD trade ideas
USDZAR long/buyHello
Focus of the day is the USDZAR pair. I am looking for a buy in this pair
* Ending diagonal (structure)
* Expanding flat formed
* Liquidity ( equal lows and some gaps taken)
* MACD DIVERGENCE
* Impulsive move expected
Entry :18.00 (ORDER BLOCK ZONE)
Stop Loss: 17.42
TP1 : 19.00 (GAP)
TP2 : 19.69 (GAP + BREAK OF TOP TO COMPLETE STRUCTURE)
Buy USDZAR @18.70HH and HLforming for a Buy setup. It has formed an Elliot wave setup which can also be looked at as a Higher High and Higher Low
USDZAR-SELL strategy 4-hourly chartThe pair starts showing a possible decline again, supported by other indicators suggesting move south again.
Strategy SELL @ 18.8875-18.9500 and place SL above 19.0750 for now. Profit order suggested above 18.6575.
USDZAR Approaching Key Demand Zone: Election Insights and MarketAs the South African elections draw near, there's heightened anticipation about potential political shifts. However, substantial changes are necessary for the current government to be unseated. In this context, the USDZAR is approaching a critical demand area between 17.42-17.88, where buyers previously stepped in. This zone could be a pivotal point for bullish reversals, aiming for the equal highs at 19.40. 📈💬
Key Demand Area and Potential Bullish Reversals
The demand zone around 17.42-17.88 is significant because it represents a region where buying pressure has previously outstripped selling pressure, leading to a price increase. When price approaches this zone again, it often acts as a support, attracting buyers and potentially sparking a bullish reversal. 🔄💵
Targeting Equal Highs at 19.40
Equal highs at 19.40 serve as an important target for several reasons:
Liquidity: Equal highs often attract liquidity as stop orders tend to accumulate above these levels. Market makers and large traders might push the price towards these highs to capture this liquidity.
Psychological Resistance: These levels are psychologically significant for traders, often acting as a magnet for price.
Previous Rejection: This area has historically seen price rejection, making it a critical level to watch for potential reversals or breakouts.
Post-Election Outlook and Eskom Challenges
It's expected that load shedding will resume post-elections, with Eskom working tirelessly to manage the energy crisis. This return to reality could weigh heavily on the South African economy and, by extension, the ZAR. Thus, a bullish USDZAR scenario remains plausible as these fundamental issues resurface. ⚡🏢
🔍 Disclaimer: This post reflects my personal views and analysis. Trading involves risk, and it's crucial to conduct your own research before making any trading decisions.
Happy Trading! 🚀📉📈
USD/ZAR movement June 2024Resistance levels continue to rise as support is shown at 18.20s around mid may and now we have bounced off 18.48. I believe we are being forced up before ultimately going back down to low 18.00s as per my previous post on May 30.
USDZAR-NEUTRAL BUY strategy 4-hourly chartThe pair may attempt higher levels before SELL strategy is suggested. I feel we have positive movement for coming sessions, even though it feels neutral range. It depends to risk appetite, and personally would remain neutral, but with BUYING bias.
Strategy BUY @ 18.6075 - 18.6350 and place SL below 18.5350 and take profit @ 18.8875.
consolidationnow that elections are over, zar remains undecisive. we will monitor it and hope it favours a certain coalition goverment
USDZAR-BUY strategy 4-hourly chartWe have reached our objective lower, and we have respected the GANN support currently near 18.4500, and move higher from there. It feels we range trade for some sessions, before we ultimately move back lower.
Strategy BUY @ 18.4750-18.5200 and place SL below 18.4150 and take profit near 18.7150.
USDZAR Morning Setup USDZAR Setup we are expecting price to bounce back from our POI because it's been respecting it
USDZAR-SELL strategy (cautious) 4-hourlyThe pair is election results driven and also awaiting developments to coalition etc. However, the run up was strong, and the GANN resistances are also playing part and including stochastic, for movement back towards 18.5000 area again.
Strategy SELL @ 18.7500-18.8000 area and place SL @ 18.8850 for now. Profit order @ 18.5150.
Dust still far from settled post SA electionsThe rand managed a strong recovery to a low of 18.02 in the lead up to the national elections. This move was largely due to the strong precious metal prices, particularly platinum, and the dollar which remained relatively range bound.
The critical resistance levels to watch are the 200-day MA at 18.77 and the 61.8% Fibo retracement rate of 18.87 (very satisfying kiss off the blue neckline and the 61.8% Fibo). A failed break above these levels will allow the rand to recover some of its election losses towards the support rate at 18.55. Continued political uncertainty regarding the new coalition government will however see the pair break above 18.87 and hurtle towards the yearly high of 19.40.
Over the slightly longer-term, a favorable political outcome following the coalition negotiations will attract foreign capital back into the local market which will allow the rand to pull the pair below 18.00 at the back of the year (best case scenario for the rand).
USDZAR-SELLstrategy (cautious) 4-hourlyThe pair has moved according to my expectation. We spiked, but higher then my profit target, which was met and had slightly better outcome around 18.6750. we moved between 18.5650-18.7500 area and that is where we are stationed now.
Strategy is SELL @ 18.7350-18.7950 and place SL above 18.8150 and resell when near 19.0000. Profit order @ 18.5350 for now.
USD/ZAR movement June 2024
Double header spotted which creates a slow moving but bearish environment for the short term. Resistance at anywhere between 18.75 to 18.78, looking for movement back towards 18.20s.
Have a great weekend !
Usd/Zar Sell IdeaIts making huge swings up and down but my indicators are saying sell it now!
It made a double top on the 1 hour time frame.
I sold with 3 small positions with my stop loss above the double top on h1, and gave it a little extra room to breate!
Its a swing trade idea for me and im just gonna try to hold 3 small positions for a new swing down that could take weeks
USDZAR-BUY strategy (cautiously) 4-hourly chartThe pair has indeed moved higher on expectation. Elections results are looming and has driven the pair higher. I feel we may see further increase and perhaps test of 18.5350 area en route 18.7500.
Strategy BUY @ 18.4150-18.4500 and place tight SL around 18.3450. Profit order @ 18.6750 for now.
USDZAR POSSIBLE SHORTThe pair has been trading inside a falling channel and it has respected this channel for sometime now. The price recently testing the support of the channel.
Looking for possible entries if the price clearly rejected from this zone.
Please do your own analysis before placing any trades.
Cheers and happy trading !
USDZAR-BUY strategy Daily chartThe pair is moving within a false bear flag pattern, and eventually we should breakout upwards. Considering the elections, this may be the catalyst for it.
Strategy BUY @ 18.2350-18.2900 and place SL below 18.1450 for now. Profit order @ 18.5350.
Usdzar bearish trend continuationOn our first shared idea, we had a fresh Supply as a trading zone. However, after reaction to the demand, price failed to change character, instead continued to break the demand. Which leads us to having a new sell opportunity at the fresh supply targeting the swing low.
Risk to reward is approximately 1.11
USDZAR-BUY strategy 4-hourlyThe pair has declined as expected, but considering the stochastic, turning and low levels, plus elections today, I feel we are on BUY side today.
Strategy BUY @ 18.2750-18.3150 and place SL below 18.1750 and take profit @ 18.6350 (for potential spikes).
Buy USDZARElection day,buy this pair hard. We are expecting a lot of volatility with this pair.
Goodluck
#1Boy
Usdzar Possible Short setup🤝we have a new trend forming with recent break of Structure to the downside. Price is coming from an unmitigated supply zone and caused change of character. We have 1 hour fvg. Entry take profit is the last low.
The 2nd is the Swing Structure as i indicated
This is a trade setup but also an educational post. I post these doe backtesting purposes. I wish to see how far I have come in the next 5 years. If the setup works and you took a trade, goodluck. If it doesn't, it's part od the game.
✔️ Let's see🕣👁️
