On the previous post i mentioned the break of R16.32 as an important level to hold for the ZAR else it would lead to a "bigger" leg up.
- Price has since broken through and a bearish Cup & Handle pattern could be in play.
R17.18-R17.50 is a possible area of support for the ZAR where a pullback or consolidation could occur to allow the 20 day moving average (orange line) to catchup.
- The measured move on the cup and handle targets the swing high eventually
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
If you would like me to have a look at any chart, direct message and i will post my thoughts, Happy Trading!
- Price has since broken through and a bearish Cup & Handle pattern could be in play.
R17.18-R17.50 is a possible area of support for the ZAR where a pullback or consolidation could occur to allow the 20 day moving average (orange line) to catchup.
- The measured move on the cup and handle targets the swing high eventually
-- MANAGE YOUR RISK - -
Disclaimer: All ideas are my opinion and should not be taken as financial advice.
If you would like me to have a look at any chart, direct message and i will post my thoughts, Happy Trading!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.