CHF/ZAR prepares to go up!CHF/ZAR is our specialty as you can check out our previous ideas and we spotted a wave of going up in the mid-term. As it is not a short-term move we have to be careful with our risk/reward and need to wait till we are sure that this is a false flag before giving up our position.
Therefore;
Level of entrance is 16.50, SL is 16. TP 18.40.
CHFZAR trade ideas
CHFZARin the case of reaching to the resistance point(yellow circle) you can enter the short position.
WHY???
1.there is a resistance of pivot point
2.61.8 fibo EX(GOLDEN RATIO)
3.61.8 fibo RET(GOLDEN RATIO)
4.bearish hidden divergence
5.finishing of bullish E wave and starting of bearish 5th wave
6. static RESISTANCE
7. Dynamic Resistance
8. GAN resistance
9.in the case of breaking the trend line and witnessing the lack of bearish power you can enter
CHF/ZAR: SHORTHello traders!
MACD line just crossed below SIGNAL line -> beginning of a BEARISH DOWNTREND
RSI 14 is going down and it is far away from being oversold.
CHF/ZAR price seems to be already in a retracement which will probably end in the vicinity of the support
Please, maintain proper position sizing and risk management!
Not a financial advise
Trade safe