GBPZAR trade ideas
Perfect automated detection of Butterfly PRZ - ShortA Bearish-type big Butterfly pattern may occur when exceeding 20.311.
There is also a resistance zone at 20.382-20.553.
(In this resistance zone, there was a rebound in 04 Aug, 21 Jul,...)
Short after pattern generation and seeing the rebound.
*Harmonic patterns and support/resistance zones are automatically detected using the indicators below.
- Harmonic auto-detect PRO
- Support/Resistance Zone Auto PRO
GBPZAR `` Bullish Flag?Obviously,
But with predominant Downtrend.
So, I dont think it will fly LONG. Either tabs opened anyways
GBPZAR SELL IDEAWith the expected weakness of GBP , I expect a sell off of GBPZAR after the previous impulse is corrected to the appropriate structural level in 3 waves .
GBPZARCurrently trading within a sideward to gradually downward range in the form of a potential bull flag structure. The monthly pivot is 19.78 i.e. the key level for an upside break. Traders should also monitor the downward trend line which extends from the peak of 05 January at R21.74 where a break could signal a change of trend from neutral to bullish.
GBPZAR 24th JUNE 2022The World Bank agreed to disburse a loan of 454.4 million euros to help South Africa buy a coronavirus vaccine. South Africa's Ministry of Finance and Banking confirmed this news in a statement. South Africa is recorded as the country with the highest number of coronavirus cases and deaths from Covid-19 on the African continent. There are more than 3.9 million confirmed cases of Covid-19 and more than 101,000 Covid-19 patients there have died. This loan is part of the South African Government's efforts to cut the cost of debt by using other sources of funding in response to the Covid-19 pandemic. As of June 2022, more than 50 percent of the adult population in South Africa, who have just received their first dose of the coronavirus vaccine.
Statistically, the UK has a much better handling of covid-19.
GBPZAR `` CRUDECrude
Chart pattern shown for suggestions
I expect a LONG in the end, perhaps a transient pullback first.
Potential Bearish Triangle.We could be dealing with Bearish Triangle As price may heard down to test the 19.07593 demand zone before Going up.
Forecast of currency pair GBPZAR .Buying possibilities on GBPZAR:
Reason being : the market has a broken Bullish
Channel/Bullish Flag and it is currentley forming a counter
trend and it is at a well respected support level .
This is a confluence because there many
conformations of buying pressure .
GBPZARGBPZAR went as excepted
little above the zone we want
anyone who took this trade
please let me know on comment
GBPZAR LONG HOLDTECHNICALS
Major support retest
Fundamentals
ZAR demand concerns
Unstable oil price creating inflation in ZAR
IS IT GOING UP?? Looks like going up, price has formed an inverted head and shoulders pattern, BUT we still need to wait for break and retest of neck line.
GBPZAR forecastas we can see GBPZAR came back to retest our order block so we are looking for buying opportunuties.order is already triggered experiencing apush to the upside.
BUY GBPZARBullish Gartley pattern completed, harmonic confluence with support trendline, expect bullish pump in price action
GBPZAR Short sells and buys , Consolidation phaseGBPZAR Consolidating between R21.50 and R20.70,
Buy or Sell breakouts of trendlines, using supply and demand technique.
GBPZAR Preparation for 2022Daily:
1. Overall predominantly bullish pressure,
However, no new structural formations have been
created towards the upside.
2. Repeated failure to break above the price
around 21.3092 suggests no added long
positions. Traders could be closing their
positions which are causing the current price
drop.
3. Price failure to break below 0.382
Retracement, as well as the absence of a
downwards break of structure, suggests a
lack of bears.
4. Moving averages show that there is a significant price drop, however, this could be a result of a lack of trading activity during the festive period.
Overall Neutral.
However, I have a bullish bias in the long term as New year begins since the UK generally has a stronger economy than South Africa.
GBPZAR testing a support 🦐GBPZAR on the 4h chart is trading above a minor support.
According to Plancton's strategy If the price will break below and satisfy the ACADEMY rules we wills et a nice short order.
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Follow the Shrimp 🦐
Keep in mind.
🟣 Purple structure -> Monthly structure.
🔴 Red structure -> Weekly structure.
🔵 Blue structure -> Daily structure.
🟡 Yellow structure -> 4h structure.
⚫️ Black structure -> <4h structure.
Here is the Plancton0618 technical analysis , please comment below if you have any question.
The ENTRY in the market will be taken only if the condition of the Plancton0618 strategy will trigger.
GBPZAR at at the bottom of a rising channelTime to play a bounce on GBPZAR off of the upward sloping support in this well established channel:
UK GDP figures out on the 22nd of Dec so could introduce some volatility if there is a big miss
Target is 22.22 over the next 2 weeks
Stop loss around 20.40
Next level of resistance @ 21.30
Good Risk Reward here!
Boom,
@theRaggy
