GBPZAR trade ideas
GBPZAR LongGBPZAR has this upwards trend line on the 1H and 4H. it also has a level at the top where price has tested many times and failed to break above.It only seems logical that from this point of touching the trend line that price will test those highs once again. A nice R:R, with a strong chance, that those highs will be tested again
GBPZAR Short Set-upGBPZAR the 2 hourly, bearish interests - take note of the price area 22.667255 for a possible bullish bounce.
This was done with dsl line and baseline values; -that is for a volume on baseline support to the resistance value of the dynamic support line (dsl), in order to estimate momentum by Fibonacci extension. (Futures Options and Binary trading ideas).
Let see how that works
GBPZAR will definitely go on SELLAfter a very long ranging market trend , the GBP_ZAR has finally given a bearish signal from the Evening star shown in the blue box above in this analysis. I strongly support a sell move from the analysis of a 4hr timeframe. Please drop your own views and idea. Thank you.
GBPZAR is getting readyIt is getting ready to break out this time. It might pull back after RSI hit the trend resistance line.
Trade Idea Trade Idea
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Price retraced of the Higher Boundary of a Descending Channel and crossed the Mid Line to downward. Currently the Mid Line serves as a resistance and if we have a confirmed rejection we can initiate a short position
Also if price cross the Mid Line to upward we can initiate a short position of the Higher Boundary of a Descending Channel , i case we have a confirmed rejection
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable!
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GBP/ZAR Long TradeStop Loss = 20.27065 / Take Profit = 23.53238 > Coupled with a 1% risk with 3% reward.
Once the trade reaches a 2:1 point move SL in front of opening at a 1:1 point to mitigate risk.
Keep Chasing that Paper!!!
GBPZARCorona virus socializing restrictions have me over analyzing which is bad for trading mentality...last one tonight, just a thought.
GBPZAR pullback :) I’ve been waiting to jump on this Long, as ZAR pairs have the biggest price movements. This means big profit potential. This 15min chart analyzes the current pullback about to take place. As long as we stay inside this BLUE triangle I have drawn, we’ll see GBPZAR fall back to test the original breakout. The area is marked as a high volume zone, as the volume bars show the most shares traded in quite some time.
This setup could take a day or to reach the area & signal confirmations to enter long...I’ll update this trade if it continues to move higher without a pullback. If it does, I’ll be cautious to enter, as huge Weekly resistance is just up ahead at the 21.93000 area. If you entered the trade now, you’ll most likely be good to be in profit by next week or so. Expect dips in profits until then.
GBPZARWaiting for the 5th point and the wait for conformation, and buy at that price aiming for 21.0000 and above.
GBPZARThis is for educational purpose regarding the trend analysis and chart pattern of GBPZAR. The overall direction is bullish but I believe it will have to current it's self and fill the voids.
