03.07.19 GBPZAR OutlookLooking for a bounce @ support and close above support prior to taking a long position
GBPZAR trade ideas
GBPZAR, Buy on H4Note : close position when prices fall exceed 17.6000
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions, -
USDZAR sell setupHi Guys, this looks like a nice sell setup for an impulse down. It is possible that it could go all the way to the bottom of the trend.
Trade with care
Thank you for your support.
GBP/ZAR Sell setupIm Expecting price to push a little higher to touch our trendline where our support will becoming our restistance. Once price is there we could be looking for a good sell entry that give us some nice pips. ofcourse we talking here about a nice swingtrade. lets wait and see how this one will play out.
GBPZAR - double bottomPossible long, could reject support and push up to 18.71 which is a neckline, that would confirm a long up to 19.59 although it could bull up to 19.79 at the 0.618 trend based fib extension point, further it could break up to 0.786 based on the long term uptrend it's following. It's an exotic pair so a long term hold would be costly on swap fees. It may form a separate uptrend on a smaller timeframe that could allow for multiple buys to enter when it drops a little bit.
gbpzar head&shoulders my favorite pattern. reversal head&shoulders on gbpzar unemployment numbers for south Africa high again petrol also going up so we expect weak rand this coming weeks.
GBPZAR Outlook Strong on all time frames within this recent down trend. Looking for a long term buy on this pair at potentially 1 of 2 different level, the first zone and more recent between 18.15590 - 18.19661and the second zone between 18.02835-18.11248. The trend line imply a continuation to the downside until we reach these levels. Also, we may see pullbacks continue to pus up to the following minor levels 18.35810-18.36895 or 18.41100-18.44628. I think we get a break of the trend lines but it eventually become support until we get our big move to the upside. Looking for rejection for both buy and sell opportunities at each of the levels.
Brexit Update - Be careful no direction established yetThis is an update to my previous recording looking at the UK Parliament Votes on Brexit this week. Last night the market thought the deal would be voted through. The legal situation regarding "The Irish Backstop" has not changed according to the UK attorney general therefore today we have seen a pullback
I'll update this as things develop
Steve Nixon
Trainer & Mentor
logicfxtrading
What's going on with Brexit? The end of March is fast approaching so all eye should be on GBP just in case we get a big move. Here we discuss what happening in the UK Parliament this week and what the possible outcomes will be.
This is not investment advice
I'll up date this idea as it develops
Please remember to give this idea a thumbs up even if it just for effort
Steve Nixon
Trainer & Mentor
GBPZAR Signal+Analysiswe just found a technical model Triple Bottom-(bullish chart pattern used in technical analysis that's characterized by three equal lows) We think the price can reach the 200 moving average which is at 18.00
Buy GBP/ZAR
Entry Price: 17.5710
Stop Loss: 174040
Take Profit: 18.00
