Long CHFZARGot a cypher here. It might be too late to enter but its still ripe. The daily shows a consolidation channel so there in not much indication as to which direction the market will take after this possible spike. Lets see what happens.
CHFZAR trade ideas
The Short and Long of it.....Could be a nice cypher pattern forming on CHFZAR this week.
Looking for the drop down into the target zone then the bounce back up.
I think I've got the Fib numbers right this time, but as always looking forward to any feedback more pro traders observe.
happy hunting this week.
CHF/ZAR downtrendPossible downtrend using the XABCD cypher pattern and I've also used a trendline which shows a downtrend in movement?
Don't really know how to use cypher patterns so guys only give constructive criticism.
Could possibly retest the trendline and go short.
Take care guys and trade safely.
CHFZAR risemini deal
SL 13.690
TP1: 13.920
see boune or breakout after tp1...
TP2: 14.110
goodluck;)
ZAR - Heavy like Gold...It has already broke-down (through all the supports)... Same thing happened as in EURZAR, USDZAR, & very soon (the same thing is expected to happen) to the JPYZAR as well...
I'm also taking a close look at commodity prices in general, & they all seems to be on a strong rally-upwards at the moment...: I guess that would be greatly strengthening the emerging/commodity currencies...
Other than the precious metals; the following have started their strong rally-up...;
Sugar
Wheat
Corn
Soybeans
Coffee
Cocoa
Cotton
Industrial metals (that are starting strong up-rally);
Palladium
Copper
Platinum
Silver
I'm expecting the NZD & AUD currency to be well supported (by rising commodity prices in general) too...
We need to know the countries import/export which commodity types specifically.
