MRP - Long if it breaks resistanceJSE:MRP has broken through a descending resistance, but it might struggle at the resistance level around 20000.
If it breaks through this level convincingly, I will consider a long position.
ZAR
Life Healthcare - Breakout at SupportJSE:LHC has broken through a descending resistance line which is also at a support level. I will enter a log position if it breaks through the fractal which is looking quite promising.
DSY Symmetrical triangle and descending resistance breakoutJSE:DSY has broken out of a symmetrical triangle in conjunction with a break out of a descending resistance line.
There is also a fractal that has formed on the top of the candle of the 30th of May.
If it breaks through this level of the fractal, I will consider a long position.
Clicks - Possible ReversalJSE:CLS has formed a bearish harami which is a reversal signal. The last harami didnt play out, so I will wait for a confirmation before possibly entering on Monday.
AMS Bearish HaramiJSE:AMS has broken through an ascending support line and formed a bearish harami pattern.
We will be looking at a short position, but be aware of the support level around 73000 as it might stall there for a while before finding direction again.
Bidvest ReversalJSE:BVT has broken through an ascending support level and is looking good for a short position once it breaks through the fractal level of 5th of June.
USDZAR is going downHi All,
USDZAR is in a downtrend.
I think is worthwhile to watch this chart and find the correct short entry.
What are your opinions?
Greets,
Vodacom breaks through top of sideways channelJSE:VOD has broken through the top of a sideways channel that it has been trading in since the 24th of Jan. It has broken out and confirmed the upward move by closing out of the channel twice.
There is also a gap that will most likely close. Just beware that it might find some resistance at gap close.
CPI Piercing LineJSE:CPI formed a piercing line pattern with Friday's close which is a bottom reversal signal.
After a preceding downtrend, the green candle opens below the previous day's close and above the middle point of the red real body. It is a bottom reversal signal, but the candles MUST be different colours.
Shoprite Piercing LineJSE:SHP is showing a piercing line pattern which is a bottom reversal signal. If it continues up, I will enter a long position.
Is USDZAR A Little Teacup? Humor Me!This Is An Educational PostI will keep this post short and sweet or at least I will try. If you kept up with my comments on my last post about this pair (see linked idea below), you were reminded to watch price action to see if a short would come into play as an option. We did this to study zone to zone. The comments also provided updates on why as we went further along I was not inclined to enter a short. I hope as you studied as educational, that you did not execute, but just study.
Now on to this study, which is for educational purposes only. I must remind you to not enter this trade but always do your own analysis and confluences as you trade. This is not a signal but an educational study. If you choose to trade this, you do so at your own risk.
Here is what I'm seeing:
1. This pair is looking awfully bullish as it runs through the key level of resistance, where price action is currently (refer to my last post..linked below)
2. Now we know that this pair always gifts us with sharp pullbacks. I am by no means implying to enter a long and ride it out to Rand$16. Know there will be pullbacks in either direction we go.
3. If we break through the area of current resistance, we are well on our way to the next level of resistance. It is too early to tell but if this happens, I will say that this pair will start to look awful teacup-ish!
4. It's not out of the question that the rand cannot reach this price given the underlying fundamentals.
5. Remember that key level in the market I noted in my last idea (see related idea below). Well that happens to be the 50% fib level from swing high to swing low, which if met is the perfect condition for the completion of a handle.
Again, I'm not calling this trade out but it's definitely something to watch. I'm not labeling this a long or a short on purpose because it could be a long to Rand$16 and then it could turn into a short back to Rand$14.5. This is analysis for study purposes. I will say though that if price hits Rand$16 I would definitely be looking for a short. In the short term I would continue to watch price action for signs of pullbacks/reversals and take short term trades. I will continue to provide updates as we go along. I just wanted to share!
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Happy Trading! Keep it safe and always use proper Risk Management
$USDZARFX:USDZAR
Approaching top of the channel started sometime in 2016.
Lets see what happens here.
Shoprite Momentum Strategy LongJSE:SHP is showing all of the signs for a long position on our trend following momentum strategy.
It would have been better to catch this a bit earlier, but it still has a bit of room to move until it hits the previous resistance.
USDZAR Bearish wedge inside of bearish wedgeLooks like a potential very nice setup here. With the big wedge on the left and the low time frame one on the right. So i am going to follow this one closely, to see if we find some resistance at the high while staying below the red zone. Because this one has long term potential, i am going to build up a pos here. So starting small and building it up on the way down after real confirmation.
Past 2 trades on this pair played out perfect, following basic TA better than others. So with some patience this one could work out greatly as well.
Previous analysis:
Dark Cloud Cover on RDFJSE:RDF has formed a dak cloud cover which is a top reversal signal, so we can anticipate a downward move. Bear in mind that there is also a tempting gap to fill above the current price, so if it goes up, I will enter long at the fractal from 3 June.
Update on USDZAR - now looking very badSo GDP numbers caught a lot of people off guard and the Raant is now tanking.
On the daily chart it now really looks like it can go pretty far up.. we could see the OANDA:USDZAR up at R15.80 to the USD pretty soon
Double top on USDZAR gave a nice little short todayFX:USDZAR traded lower after forming a double top on the 4 hour chart.
Caught a good part of the trade.
The full move of the double top could go all the way down to R14.30 to the dollar.
RMH Trend Following Long & Descending Resistance BreakoutJSE:RMH broke through a descending resistance a couple of days ago and is also has triggered all of the criteria for a long on the trend following momentum strategy.
We can anticipate a bit more of an upward move before reaching the resistance level.
AMS - Momentum Strategy LongAll of the criteria have been met for a long on JSE:AMS on our Momentum Strategy.
The EMA's have crossed, The Stochastic has crossed up along with the MACD.
Anglo American ShortJSE:AMS has broken out of a descending triangle pattern as well as breaching through a downward fractal.
I have entered a short position with a target around the 55500 level.
EURZAR: Short term bullish signal. Long term pending.The pair is on a 1D Ascending Triangle (RSI = 54.426, STOCH = 51.729, Highs/Lows = 0.0000) which on the short term is giving buy signal towards 16.800. Also, a stronger longer term buy signal is coming close to being materialized when the Golden Cross takes place (MA50 over MA200). The last 2 times that happened, the pair rallied more than +15%.
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