MR_US30_ZAR

MR_US30_ZAR

1)Head & Shoulder pattern (right shoulder forming). 2)Pivots Buy ZONE 3)Dxy weakness forming that correlates with the bullish move on gold.

MR_US30_ZAR

-Impulse move has been completed -H1 Head and Shoulders -Monthly Pivots Resistance Zone reached

MR_US30_ZAR

-Trend Channel has been broken to the downside, we Have 3 wave impulse move occurring, we on the final wave. -Break of trend completed we no ion down trend.

MR_US30_ZAR

-Trend Channel broken on downside and currently retesting the breakout. -Dollar Index on strength zone which correlates with this analysis

MR_US30_ZAR

-The Current Zone is a Pivot key resistance zone (only valid reason to sell as Price has never reached these levels before -We will sell to form a Head and shoulder Pattern which is a reversal pattern(as described on Image. 3 impulse waves have occurred therefore pull back is a must ion market structure

MR_US30_ZAR

-Support line has been holding perfectly throughout. -Dollar index showing strength on dollar which correlates with prediction of usdzar bulls expected soon.

MR_US30_ZAR

*)Correction wave almost completed ABC *)About to start 12345 impulse wave for USD Strength for NFP.

MR_US30_ZAR

1)61.8 turning point 2) Elliot's wave 3 wave impulse move 3)Bullish Trend on usd across all pairs

MR_US30_ZAR

1) Correction completed, impulse move to begin 2) 61.8 level rejected to continue bullish move.

MR_US30_ZAR

1)elliots wave 5waves then dropped 2)break retest of trendline to drop now 4)dxy weakness and jpy strength across all pairs.

MR_US30_ZAR

1)Trendline resistance consistent 2)DXY Dollar weakness's across all pairs and index

MR_US30_ZAR

1)impulse move completed 2)Retracement before the continuation.

MR_US30_ZAR

Break retest of Trendline Demand zone has been holding at this price for years.

MR_US30_ZAR

-We have just hit the retest of the trendline after the breakout. -Price to drop from this zone. -ABC Correction Move.

MR_US30_ZAR

Looking at Previous Price Action over 3 years there a high probability that we will have a selloff for most of 2024. - TrendLine -Elliot's Wave.

MR_US30_ZAR

Confluence are (Fibzone and Trend line). Momentum on downsize as per moving averages. Dollar strength confirming direction

MR_US30_ZAR

1)Breakout retest of trend line. 2)Weekly time frame candle showing reversal hammer 3)Daily time frame showing bullish momentum at zone( confluence area)

MR_US30_ZAR

1)Price retraced to 61.8 level which is key level for continuation. 2)price also retested on trand line which was resistance before to become support.