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Usdzarlong

USDZAR LONG EDUCATION The Power of TrendlinesHello to all watching my charts Here i will tell you (again) the power of trading broken trendlines for example in USDZAR a little bit exotic pair but its interested that here also this trading type will get very positive results. Lets have a closer look to the last 2 Month from 7. June to 7. August Now what happens: 7.6. USDZAR broke the first long trendline (if you count from left to right) SHORT 14.900 5.7. USDZAR broke the second (short) trendline LONG 14.200 + 700 10.7. USDZAR broke the third (long) trendline SHORT 14.060 - 140 26.7. USDZAR broke the forth (short) trendline LONG 14.200 - 140 7.8. Situation is still long at 15.000 + 800 So in total ist PLUS 1220 !! Thats really impressive i think and all with only 4 trades in 2 month. I will tell you this in the future on my website which i do hope will be ready soon. Good trades If you want to support my work and my charts please like them.. Renkotrade
Long
by Renkotrade
USDZAR reboundUSDZAR has printed a long tail (hammer) candlestick at an area of strong support where we have seen the pair rebound in the past several times (green cirles). Furthermore the pair broke the support and recovered in a very strong way. The market is also approaching the descending trendline dating from the beginning of June. RSI is printing a bit of a divergence with the price falling strong but RSI staying neutral. MACD also confirms the recovery. I believe a rebound to the 14.6 area is on the cards. For that we want to see the pair break the trendline and hold above support. We can see it more clearly on the 4H chart The kind of price action I am expecting is an approach to the trendline and then a pullback back to support when it encounters resistance from the 50MA to gain strength again. We also see how the price has been falling but RSI has been gaining strength. This divergence is a very clear signal for reversal. Do you have other ideas? Let me know in the comments!!
Long
by MicKi
2
USDZAR Long PossibilityThis idea is for demonstration and educational purposes only. I suggest If your account can handle the risk for this idea, it would be a great set up. Possible 700 plus pip reward.For demonstration, I placed my stop loss above the key of support as noted. I do not recommend this, but if you wanted to stand a little bit more risk you could allow more room for your stop loss closer the level of support below. THIS IS RISKY which I don't recommend. Always follow your rules for proper risk management. The trade could very well not play out, so always follow your rules including your stop loss. I used various confluences to come up with this idea. But it is very important to note that the market is always subject to volatility and change, especially with the instability of the rand. I trade this pair quite a bit, so check out my previous analyses on why I have come to this idea. I am linking an idea I had below from April 2019 where a bull run was suggested. If you take this idea; trade at your own risk and use proper risk management.
Long
by mrsceleste
USDZAR Long Possibility - Can the Rand Withstand the Pressures?First let me preface this by saying I am always a student of the markets. My analysis is an educational study and is for demonstration and study purposes only. We must study the market closely and understand that market conditions are subject to change. Thus, I say, as always, perform your own analysis and trade at your own risk. Always use proper risk management. This idea does not constitute a signal. Fundamentally, we have many things to consider and more uncertainties to come which has caused the rand to weaken. South Africa has many fears relating to both pre and post-election which continue to linger, including maladministration and corruption; unemployment, housing, and energy concerns. To top it off Moody's issued a strong warning last week that the country was fast slipping into junk status as continuing structural weaknesses and rising debt overran South Africa’s ability to service its obligations. This week we can expect some key economic data to be released related to CPI and the South African Reserve Bank policy review. We won't know this data until it is released later this week, which also plays a part in rand performance. These events will likely cause some slight volatility of the rand. On the bright side, the nation stands hopeful and looks to Ramphosa and his administration to turn things around for the better. Now for the technicals, please refer to my last trade idea (see link below), where we hit take profit after a double bottom and bull run. I am hopeful to see a slight pullback to the area noted and possibly a break to the next area of resistance in the short term. My analysis is based on a few confluences such as fib retracements, fib extenstions, and we also see price is currently sitting above the 200 MA, which is shows us that there are still buyers in the market. We see price being contained so far within an ascending channel as noted as well. After a brief retracement, I hope to see a bounce off a key level in the market, with the 200 MA still being a form of dynamic support, to take us to the next high. Again, and as always, trade at your own risk. This idea is for demonstration and educational purposes. For updates please follow me on Instagram and also Facebook (links are below). Please like and share your thoughts as well.
Long
by mrsceleste
USD/ZAR Long Idea - Double BottomDouble bottom formation at key level in the market. Note the strong wick rejection (doji) around the key demand zone, as circled. Price will pull back some and it will take some time for this idea to come to fruition IF it does. I put my stop loss beneath the double bottom for a low risk to reward trade set up. Please see linked idea below to follow from start. I closed out of that trade to enter this one. Trade at your own risk. Follow me on Instagram (see below) for more updates and shares.
Long
by mrsceleste