ZARGBP trade ideas
GBPZAR- LONGConfluence of support level, fib level, arc and the general trend of GBP. Strong long trend in the coming weeks.
GBPZAR - Hedge against the RandUk needs to recover well from Brexit in order for this to happen. Also, as mentioned, SA's economy will need to stay on the same downward spiral, in order for this pair to return to previous highs
Median line and 200DMA supportLooks very well supported at this level, good long entry. Targeting 17.5 area (upper line of pitchfork).
GBP ZAR LONG POSITION VIEWHi guys, made this chart analysis based on structure, over/under-sold peaks, and fib pivots...it has a 1 to 3.3 gain/risk ratio
BUY STOP ORDER
entry @ 17.0566
tp1@17.2266
tp2@17.359
sl@16.9676
Risk management is 3/4 of the trade !!
GBPZAR Short Position (4Hr Timeframe)-Potential short position as trend breaks out and makes bearish move
- Be wary of retest as trend could pull back towards weekly resistance
- looking to take this position as MACD indicates downwards movement
- Look for entry in 1Hr timeframe through Moving Average crossover or bearish candlestick pattern
ZAR looking weak everywhere - GBPZAR to push much higher?GBPZAR has corrected 61.8% of its long term uptrend.
It is now breaking a falling wedge and shows signs of pushing higher.
Markets to watch out for on UK Election night / morning:Keep an eye on these 8 tonight and tomorrow!
Interesting results..ORDER BUY STOP @ 16.545
SL @ 16.471
TP1 @ 16.63
GANACIA/RIESGO 1 A 1.3
TP2 @ 16.84
GANACIA/RIESGO 1 A 3.8
POSSIBLE REVERSAL: YELLOW SHADE AREA
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GBP/ZAR Weekly AnalysisGDP/ZAR still shifting up and down, so the if statement here will do just like the USD/ZAR, they seem to react in the same manner due to investors relations driven by politics.
GDP >ZAR AnalysisThe POUND been falling against the RAND for 6 a half days now.
I wonder if this gives this pair a long opportunity after the commotion in the UK ?
Hoping for a good long opportunity when the price recovers ?
Long opportunity on the poundThe Rand gained strength in the morning against the pound
Round about 5 in the morning - Price = 17.2335
Round about 6 in the evening - Price = 16.9790
Expecting the price to bounce back to between 17.1000 & 17.1500 by lunch tomorrow?
I see long sculpting opportunities for gbpzarThe market been going side ways for a while now whilst going (from the 8th till sate)
I suggest long sculpting for a shot period of time for every long opportunity?
