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SOUTH AFRICAN RAND / U.S. DOLLAR

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ZARUSD trade ideas

USDZAR-SELL strategy 4-hourlyI had updated on the SELL strategy that we violated the GANN resistance 18.7800 area and that it changed to BUY activity to see 19.8875 area as possible. It has moved further out. GANNs are useful for trading and helps to determine the support and resistance when we are on a directional trend. For now, stochastic is higher up now, and we have moved nicely reaching the next resistance area @ 19.0250. Strategy SELL @ 18.9500-18.9950 and place SL above 19.0575 and take profit @ 18.7850.
Short
by peterbokma
USDZAR-BUY strategy 4-hourly chartThe pair has been under attack again, and we did have some recovery but limited above 18.7500-18.7800 area. Now we are moving sharply lower with negative stochastic once again. This paves the way towards 18.5000 support, where I feel we may attempt to BUY again. My fear is SELL side not safe, due to the fact that any major change in crypto and GOLD will lead to recovery 18.9500. Strategy BUY @ 18.5000-18.5350 and place SL below 18.4750 and profit perhaps @ 18.7350.
Long
by peterbokma
USDZAR-BUY strategy 4-hourly chartI believe we remain in a larger range area, but feel tendency is to break beyond 18.8000 again. The issue is, GOLD which is driven by crypto as people are seeking safety so the speak. However, this is not safety, rather is thin market conditions, and heavily oversold for the pair and overbought for crypto and GOLD. Strategy BUY @ 18.6150 - 18.6750 area (add is already long, and keep leverages within bounds. SL perhaps below 18.4800 now, and profit target @ 18.8575.
Long
by peterbokma