FSR struggling at resistanceJSE:FSR is struggling to break through a descending resistance line and if it confirms, it could mean a downward continuation.
ZAR
APN - Tested previous spike lowJSE:APN has recently tested a spike low that it formed in March this year. It first it seemed like it had broken through, but it has since bounced and seems to be on its way up. Stochastic is confirming. If it breaks above yesterday's high, I will consider a long on Monday.
USDZAR Long on the pair to be cautious here!Price closed below the symmetrical triangle pattern and is currently going to retest the break. Failure at around the R15.28 zone will signal further strength for the ZAR. Stochastic on the daily has also been overbought and sloping downwards.
Downward channel on BHPJSE:BHP is trading in a downward channel. It has reached the top and will most likely be heading down towards the bottom of the channel. Failing that, a break out through the top could mean a long position.
AMS - Morning Star ReversalJSE:AMS has formed a morning star pattern at a support level. We can anticipate a small upward move.
Engulfing @ SupportJSE:VOD is showing an engulfing candle at a support level and is looking good for a long position.
BID Bullish HaramiJSE:BID ha formed a bullish harami and is looking good for an upward move if confirmed by todays price action.
ABSA @ SupportJSE:ABG seems to be bouncing off of a support level at the moment as well as having broken through a descending resistance. We could be looking at a long move if it confirms.
USDZAR ShortWe have seen ZAR very weak recently due to heavy RISK OFF and some weak zar data.
I'm anticipating a RISK ON week which will see ZAR gain some strength, we, have weak PMI data during this week which will give us our prime level to sell
I have 3 TP's set for this trade
TP 1 - 15.17456
TP 2 - 15.02576
TP 3 - 14.64768
Top and Bottom Analysis on USDZAR by ThinkingAntsOkUse this as a guide to spotting the most important areas on the chart to develop your own setup
Main items we see on the 4hs chart:
a)Currently, the price is against a resistance zone + the higher trendline of the ascending channel (major reversal zone)
b)Observe the Bearish divergence on MACD Histogram
c)We need to wait for reversal signals before entering the market
d)2 optiones you wan wait for a corrective structure inside or outside the current bullish movement, in both cases you will have
a good risk reward ratio and good places to set your stop
e)However if price breaks above the Current resistance zone with a close daily candlestick we will cancel the bearish thesis
Daily Chart:
Weekly Chart:
Possible bounce on PSGJSE:PSG is trading around quite a strong support level and it is very likely that we will see a bounce and a move upward as it has struggled on this level many times before.
TBS reversalJSE:TBS has broken through a descending resistance. I will enter long if it breaks through the fractal.
SANLAM - Bullish Harami at SupportJSE:SLM is showing a bullish harami pattern at quite a strong support level. We could possibly be looking at a bullish reversal if confirmed.
Multichoice possible bounce off resistanceJSE:MCG is currently struggling with quite a strong resistance ceiling. We could possibly see a small downward mve if it doesn't break through
BVT - Descending Resistance breakJSE:BVT has opened on the other side of a descending resistance level which could signify an upward move if confirmed above today's high. There is a strong resistance level at 19000 so be mindful of that.
ZAR USD Long ideaThis is my idea the direction ZAR/USD is going to take .
Due the economical situation is ZAR and spring compeing up the economy is going to start up again from the septembar .
Recovering ZAR up 10 % while it is going to hit the resistance of the market , unless we see some surprising events from the White house.
I am still new to this so my apologize if something is missing .
I am opened for all suggestions and recommendations how to improve myself .
Thanks you for understanding ...
REM descending resistance breakoutJSE:REM has broken through a descending resistance level. If it confirms by closing above it at the end of today, we would be looking at a long position tomorrow.
NED - Possible reversal imminent JSE:NED formed a doji candle yesterday which means that the market has lost it's sense of direction and is vulnerable to change. Keep an eye on it and if it breaches around the 23600 level, I will consider a long position.
AMS Piercing line JSE:AMS has formed a piercing line at a support level. This could signal an upward move.
TFG Heading for strong supportJSE:TFG is heading downward towards a very strong support level that it has tested 7 times in the past. As always, wait for confirmation, but we can possibly expect a bounce off support and a move upwards.
