I will keep this post short and sweet or at least I will try. If you kept up with my comments on my last post about this pair (see linked idea below), you were reminded to watch price action to see if a short would come into play as an option. We did this to study zone to zone. The comments also provided updates on why as we went further along I was not inclined...
OANDA:GBPZAR Trading inside perfect symmetrical triangle. Watch for break out.
FX:USDZAR Approaching top of the channel started sometime in 2016. Lets see what happens here.
JSE:SHP is showing all of the signs for a long position on our trend following momentum strategy. It would have been better to catch this a bit earlier, but it still has a bit of room to move until it hits the previous resistance.
Looks like a potential very nice setup here. With the big wedge on the left and the low time frame one on the right. So i am going to follow this one closely, to see if we find some resistance at the high while staying below the red zone. Because this one has long term potential, i am going to build up a pos here. So starting small and building it up on the way...
JSE:RDF has formed a dak cloud cover which is a top reversal signal, so we can anticipate a downward move. Bear in mind that there is also a tempting gap to fill above the current price, so if it goes up, I will enter long at the fractal from 3 June.
So GDP numbers caught a lot of people off guard and the Raant is now tanking. On the daily chart it now really looks like it can go pretty far up.. we could see the OANDA:USDZAR up at R15.80 to the USD pretty soon
FX:USDZAR traded lower after forming a double top on the 4 hour chart. Caught a good part of the trade. The full move of the double top could go all the way down to R14.30 to the dollar.
JSE:RMH broke through a descending resistance a couple of days ago and is also has triggered all of the criteria for a long on the trend following momentum strategy. We can anticipate a bit more of an upward move before reaching the resistance level.
All of the criteria have been met for a long on JSE:AMS on our Momentum Strategy. The EMA's have crossed, The Stochastic has crossed up along with the MACD.
JSE:AMS has broken out of a descending triangle pattern as well as breaching through a downward fractal. I have entered a short position with a target around the 55500 level.
The pair is on a 1D Ascending Triangle (RSI = 54.426, STOCH = 51.729, Highs/Lows = 0.0000) which on the short term is giving buy signal towards 16.800. Also, a stronger longer term buy signal is coming close to being materialized when the Golden Cross takes place (MA50 over MA200). The last 2 times that happened, the pair rallied more than +15%. ** If you...
Trade Background: Not much to say here due to the nature of the trade being a short one and relying solely on technical analysis. Trade Idea: Positioning: Buy Time frame: 1H Length of Trade: 1 day to 2 days Entry: Between 14.5000 to 14.5400 Stop: 14.5000 Exit: 14.7600
The exponential moving averages have crossed upwards, the stochastic has made an upward turn and MACD is also on the up. These are all signs to go long as the momentum is moving upwards.
JSE:ANG has broken through a descending resistance line and could continue upwards. I will wait a bit to see if the direction is confirmed before entering into a long position.
JSE:AGL has broken through a descending resistance line and is looking good for a long position. For the more cautious trader, I would wait for it to close above the resistance level and the fractal before entering.
JSE:WHL has broken through a descending resistance and confirmed the breakout with the next candle. This breakout also happened at a support level. We can expect an upward move due to this breakout.
JSE:GRT is showing a piercing line pattern which is a bottom reversal pattern. Definition of Piercing Line: After a preceding downtrend, the green candle opens below the previous days close and closes above 50% of the previous red body. The candles MUST be different colours.