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Usdzarforcast

USDZAR clean breakdownThe pair is at a very important area of resistance from where it has bounced in the past (green circles) and has failed to break it in all 4 occasions that has tried. It has also entered overbought territory. Furthermore, in that bullish movement seen the last few days, the support area at 14.6 has not been restested and that is a major support. Lets look at the 4H chart: We see a few things that give me if not huge bearish signals, a very good R:R ratio : 1) Huge RSI divergence ( marked by purple lines ) 2) Price at area of resistance and looking like a triple top 3) After the clean move up yesterday there is no support at all until the 15.12 area where the MA50 will come into play 4) Doji on the last 4H candle what means indecision 5) Once we hit MA50 we will monitor how the pair reacts How am I planning to play this trade? I am looking at a very aggressive entry on the H1 chart: We see that the pair has failed to break the resistance recently in multiple occasions (green circles) and the last attempt was very weak. I am looking to entry when that minor area of support at 15.3577 is broken with a SL just above the highs. Profit Targets will be the MA50 on 4H at around 15.12 and the main support at 14.6 Trade safe!
Short
by MicKi
USDZAR LONG EDUCATION The Power of TrendlinesHello to all watching my charts Here i will tell you (again) the power of trading broken trendlines for example in USDZAR a little bit exotic pair but its interested that here also this trading type will get very positive results. Lets have a closer look to the last 2 Month from 7. June to 7. August Now what happens: 7.6. USDZAR broke the first long trendline (if you count from left to right) SHORT 14.900 5.7. USDZAR broke the second (short) trendline LONG 14.200 + 700 10.7. USDZAR broke the third (long) trendline SHORT 14.060 - 140 26.7. USDZAR broke the forth (short) trendline LONG 14.200 - 140 7.8. Situation is still long at 15.000 + 800 So in total ist PLUS 1220 !! Thats really impressive i think and all with only 4 trades in 2 month. I will tell you this in the future on my website which i do hope will be ready soon. Good trades If you want to support my work and my charts please like them.. Renkotrade
Long
by Renkotrade
USDZAR reboundUSDZAR has printed a long tail (hammer) candlestick at an area of strong support where we have seen the pair rebound in the past several times (green cirles). Furthermore the pair broke the support and recovered in a very strong way. The market is also approaching the descending trendline dating from the beginning of June. RSI is printing a bit of a divergence with the price falling strong but RSI staying neutral. MACD also confirms the recovery. I believe a rebound to the 14.6 area is on the cards. For that we want to see the pair break the trendline and hold above support. We can see it more clearly on the 4H chart The kind of price action I am expecting is an approach to the trendline and then a pullback back to support when it encounters resistance from the 50MA to gain strength again. We also see how the price has been falling but RSI has been gaining strength. This divergence is a very clear signal for reversal. Do you have other ideas? Let me know in the comments!!
Long
by MicKi
2
PULL YOUR PANTS DOWNWe can see marked out on the chart a strong area or support and resistance, we are expecting price to make its way into this zone and when it does we will be looking for a buy... Patients is key in trading and if you don't have any the markets will pull your pants down and shove a rather large hard object somewhere that might hurt. In this game if you rush into trades you might as well just burn your money ( or give it to me as burning really is wasting it ) my bank details can be provided on request ;p Just remember not to chase trades and instead let them chase you... a little bit like playing kiss chase as a kid, you didn't want to chase the ugly kids ( bad trades ) but if the good lucking kid ( good trade setup ) came after you then you would suddenly forget how to run and take the kiss ( pips/ money ) like a trooper haha. I know I have an unorthodox way of explaining trades and setups, but I'm just trying to make things more fun, so I hope you like them :) If you like my style then drop a comment in the comment section and let me know.
Short
by ApexFX_Pro
PULL YOUR PANTS DOWNWe can see marked out on the chart a strong area or support and resistance, we are expecting price to make its way into this zone and when it does we will be looking for a buy... Patients is key in trading and if you don't have any the markets will pull your pants down and shove a rather large hard object somewhere that might hurt. In this game if you rush into trades you might as well just burn your money ( or give it to me as burning really is wasting it ) my bank details can be provided on request ;p Just remember not to chase trades and instead let them chase you... a little bit like playing kiss chase as a kid, you didn't want to chase the ugly kids ( bad trades ) but if the good lucking kid ( good trade setup ) came after you then you would suddenly forget how to run and take the kiss ( pips/ money ) like a trooper haha. I know I have an unorthodox way of explaining trades and setups, but I'm just trying to make things more fun, so I hope you like them :) If you like my style then drop a comment in the comment section and let me know.
Short
by ApexFX_Pro