$EURZAROANDA:EURZAR
Symmetrical triangle in making break bellow 15.90 will be bullsih for ZAR.
Go mighty rand !!!
RAND
Piercing Line ReversalA PIERCING LINE has formed on JSE:REM .
A piercing line is defined by the following:
- After a preceding downtrend,
- Green opens below previous days close, and closes above 50% of the real red body.
- Bottom reversal signal
- Candles must be different colours.
Because of this, along with the upward channel that it has been trading in, I entered a long position on opening this morning.
MRP Trend ReversalWe have a Bearish Engulfing on JSE:MRP which was formed yesterday. This could mean a possible trend reversal from the short term up trend.
I have entered a short trade at this morning's opening.
USDZAR - Long Term CountUSDZAR still Looking Mid Term Bullish here. Expect a drop Short term before making higher highs.Not looking too good for South Africans going forward. Should see some reprieve after a year or 2 and a lot of strength
Ascending Triangle Breakout - LHCJSE:LHC has just broken out of a ascending triangle that it has been forming since mid November last year. Because of this I have entered a long position.
An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The breakout can occur to the upside or downside. Ascending triangles are often called continuation patterns since the price will typically breakout in the same direction as the trend that was in place just prior to the triangle forming.
NPN Possible Trend ReversalJSE:NPN has shown a dark cloud cover, which often signifies a trend reversal, so I will enter short.
However, it has been in a very strong uptrend for a while, so I will trade with caution in case it continues upward.
BID Corporation at ResistanceJSE:BID has been trading in a channel for a while and is at the strong resistance at the top of the channel. I am anticipating a downward move back to the bottom of the channel as it seems to have struggled at the resistance level before.
If the downward move doesn't happen and it breaks through the top of the channel, I will consider a long position.
Morning Star on GoldFieldsA Morning Star pattern has formed on JSE:GFI which is a bottom reversal signal. This coupled with a bounce of the bottom support strengthens the signal.
A Morning Star is found after a preceding down trend where the 2nd candles body must be below the 1st and 3rd candles body. The 3rd candle must close above 50% of the 1st red body.
I will enter this trade long and try to reach the target at the top resistance.
Sideways channel on BidvestJSE:BVT is trading in a sideways channel and has been since mid-November last year. It has reached the top of the channel and will most likely bounce on the resistance and continue downwards. I will enter a short around the 21600 level if it goes down.
Our target level will be the bottom of the channel around the 19000 level, which is also a significant level because round numbers tend to act like magnets for the price action.
If it fails to bounce off and breaks through the resistance, I will consider entering a long position.
USD/ZAR: Buy on Bottom Dsecending Channel !!BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
FOSCHINI GROUP REVERSALJSE:TFG is reversing following a bearish engulfing chart pattern that formed. We can aim for the support level around the 16000 level.
USD ZAR SELL (US DOLLAR - SOUTH AFRICAN RAND)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to hit the top of the pattern and watch strong price action for sell.
Bullish Engulfing on TruworthsJSE:TRU formed a bullish engulfing candle pattern on Friday which is a strong reversal signal. We can expect it to go upwards from here.
USD/ZAR: Long Term Bullish scenario !!BUY & SELL Above Given Chart or
You Can Also set Own Risk reward.
Let see what Will be Next Move.
Warning- I m Not a Financial Advisor this idea Only For Educational Purpose Only.
Thank You !!
USDZAR - Short Trade of the MonthWe are looking at shorting the retrace of this move up no higher than the previous candle high.
Target 13.08 for now.
Great R:R ratio on this
USDZAR - Complex Combo CorrectionWe are seeing the Rand almost at completion of an extremely complex combo correction in what looks to be a triple zig zag.
Invalidation of this XX wave above the blue line as it cannot go higher than the previous x Wave.
With all of the uncertainty surrounding the country and government , I am unsure as to what the Catalyst from a FA point of view will be to be attributed to a drop down to the 13.11 range.
USDZAR - Full Elliot Wave CountNot quite done here to the upside, small retrace to around 14-28 before the final push up to 14.67.
Expecting a major retrace to around 13.11 thereafter before we see new higher highs and a Weaker Rand for the upcoming months
USD ZAR SELL (US DOLLAR - SOUTH AFRICAN RAND)Hi there. Price is forming a continuation pattern to the downside. Wait for the price to complete the pattern and watch strong price action for sell.
USDZARChannel Limits Resepected.
Usual stop run break out before a major move in the opposite direction.
Current Target R 12-90
USD/ZAR due for a correction soonBad news in South Africa (power utility troubles caused the price to rally extremely high). The situation is somewhat normalized as of now but insolvency issues for the power utility company still persist.
RSI shows super overbought so expect a drop sometime soon after slightly more uptrend and perhaps sideways.
This is still in a strong downtrend on the daily chart so I'm pretty sure the trend will continue.
USDZARCurrently forming the B wave of the Final Y wave of our correction.
Expecting a spike up to 13.65 then a slow bleed to 13.43 to test support before an expansive move up to 14.10 or so. We should see a nice drop towards the second half of the year into the 12.60 Area.
A little bit of sideways movement / accumulation then the final leg up to test the previous high around 15.60ish.
Expecting a massive move down to sub R12.00 after that to complete the giant Flat correction currently in play
