Weely Market Review ( USDZAR ) by 01Kim's FX
USDZARSame Process The MAEST Formula
#1 MARKET STRUCTURE ( Distribution Stage on 4H-TF )
#2 AREA OF VALUE ( Price is at previous support, turned resistance level )
#3 ENTRY TRIGGER ( Chart pattern + bearish engulfing 4H candle close )
#4 STOP LOSS ( you could set your SL 25pips above previous highs or 1 ATR above previous highs )
#5 TAKE PROFIT ( Have a target 🎯Profits at the nearest swing lows )
Also I can see some good confluences like price at a strong level of resistance + trendline break + a head and shoulder chaet pattern.
So the only thing I will be waiting for is, if price can close below 14.137 level and sustain below it then I'm all convinced to go SHORT.
Entry, Stops and Target as shown.
Your HomeBoy
01KIm's FX
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