ZARUSD trade ideas
USD/ZAR ↘️ Short Trade Setup ↘️Hello Everyone 🙋🏽♂️
Demand zone + RSI Oversold
🟠 EP 18.89879
🔴 SL 18.98955
🟢 TP1 18.77636⚠️( Close 33% of the trade and Set the SL on EP )⚠️
🟢 TP2 18.68988⚠️ ( Close 33% of the trade )⚠️
🟢 TP3 18.59142🔥 ( Final result)🔥
We are not responsible of any losses for anyone, our trades are profitable more for long terms and we take losses as everyone,
manage your lot size as well and your SL and TP and my opinion is 0.01 lot for each 500 $.
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Best Regard / EMA Trading .
Disclaimer:
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It's not a financial advise, As everyone we take losses sometime but for long term trading we are profitable traders, so manage your account well with SL and TP and your lot size to keep your account safe and stay in the market
USDZAR - Daily Weekly Overview 13-12-2023Global markets not doing so great. Although we have seen some strength on ZAR, it has nothing to do with our economy. This will not last long. We expect short these coming few weeks of Dec 2023 and bullish from Jan 2024. We also have some Elections in April 2024. Micro economic factors are not making it easy for the Rand. Buy at Support Zone as show. Use proper Risk Management.
USDZAR-RANGE 4-hourly chartCurrently we are under pressure and this may go further until somewhere 18.5150-18.5300. The overall pattern (daily chart is easier to see) is a large "W" shape, and we are supported trend line near 18.5100. The neckline of the W is somewhere 18.9350 estimated.
For those playing a larger play, may consider looking at this pattern, either by early entry or on break-out.
Strategy short-term is BUY near 18.5100- and place SL @ 18.4350. Profit @ 18.8575
or SELL near 18.8500-18.8800 and place SL above 18.9450. Profit order @ 18.5975 now.
Medium-term play consider BUYING near 18.5100 and place SL @ 18.3875 and take profit at 19.6550.
USDZAR-RANGE trade 4-hourly chartWe managed indeed to move higher, and more than expected, which is normal for this pair.
we are out of bounds of downward channel, but still higher ranges are possible. There fore I see pattern as range bound, hammer tops and cross, but positive stochastic.
Strategy SELL @ 18.8450-18.8650 (SL @ 18.9750 and profit @ 18.6750.
Strategy BUY @ 18.6150-18.6350 (SL @ 18.5350) and profit @ 18.7550.
USDZAR-BUY strategy 4-hourlyThe pair has moved lower as expected, and perhaps little bit more.
The current situation feels its under pressure for further down move, but I feel with USD being oversold on others, and also we have a low stochastic, still positive, suggesting a BUY strategy now.
Strategy BUY @ 18.4350-18.4600 and place SL below 18.3750 for now. Profit order @ 18.6350.
USDZAR- SELL strategy 4-hourlyThe pair has climbed during my trip, and did much better than expected. We have seen highs near 19.00 even, and declined towards 18.8200 area.
The stochastic is negative, and we are within a larger falls bull flag and we are moving within a large ascending wedge.
Strategy is SELL near 18.9000-18.9500 but SL should be above 19.0750 if one manages this far out. Profit order I think near 18.5450 and beaqring in mind support near 18.7600 for now.
Heading into Ki DezembaThe rand has now given back almost half of its October gains following the ill received CPI figures and SARB interest rate decision. The rand slide roughly 2.5% last week which saw the USD/ZAR pair touch a high of 18.96. Luckily the rand managed to keep the pair below the critical 50-day MA rate of 18.82, but a break above this rate could see the rand slide further towards 19.20 as we enter the month of ki Dezemba. It is difficult to gauge the rand’s moves but the rise in investor risk-on sentiment and eased liquidity conditions in fundamentally rand positive. The breakout of the downward channel and the break above the 200-day MA is however technically rand-negative.
USDZAR Short Carry tradeFundamental outlook
- Economic sentiment turned risk-on last two weeks
- Upcoming Christmass and new year could be a bigger cataclyst towards risk-on assets
- High swap rate (83$ per lot)
Technical outlook
- 4H charts shows a strong inverse H&S patern
- Price retraced to resistance - clean order block on 4H and 1H TF
Will try to pyramid this trade as it gives a daily payout.