BID Bullish HaramiJSE:BID ha formed a bullish harami and is looking good for an upward move if confirmed by todays price action.
ZAR
ABSA @ SupportJSE:ABG seems to be bouncing off of a support level at the moment as well as having broken through a descending resistance. We could be looking at a long move if it confirms.
USDZAR ShortWe have seen ZAR very weak recently due to heavy RISK OFF and some weak zar data.
I'm anticipating a RISK ON week which will see ZAR gain some strength, we, have weak PMI data during this week which will give us our prime level to sell
I have 3 TP's set for this trade
TP 1 - 15.17456
TP 2 - 15.02576
TP 3 - 14.64768
Top and Bottom Analysis on USDZAR by ThinkingAntsOkUse this as a guide to spotting the most important areas on the chart to develop your own setup
Main items we see on the 4hs chart:
a)Currently, the price is against a resistance zone + the higher trendline of the ascending channel (major reversal zone)
b)Observe the Bearish divergence on MACD Histogram
c)We need to wait for reversal signals before entering the market
d)2 optiones you wan wait for a corrective structure inside or outside the current bullish movement, in both cases you will have
a good risk reward ratio and good places to set your stop
e)However if price breaks above the Current resistance zone with a close daily candlestick we will cancel the bearish thesis
Daily Chart:
Weekly Chart:
Possible bounce on PSGJSE:PSG is trading around quite a strong support level and it is very likely that we will see a bounce and a move upward as it has struggled on this level many times before.
TBS reversalJSE:TBS has broken through a descending resistance. I will enter long if it breaks through the fractal.
SANLAM - Bullish Harami at SupportJSE:SLM is showing a bullish harami pattern at quite a strong support level. We could possibly be looking at a bullish reversal if confirmed.
Multichoice possible bounce off resistanceJSE:MCG is currently struggling with quite a strong resistance ceiling. We could possibly see a small downward mve if it doesn't break through
BVT - Descending Resistance breakJSE:BVT has opened on the other side of a descending resistance level which could signify an upward move if confirmed above today's high. There is a strong resistance level at 19000 so be mindful of that.
ZAR USD Long ideaThis is my idea the direction ZAR/USD is going to take .
Due the economical situation is ZAR and spring compeing up the economy is going to start up again from the septembar .
Recovering ZAR up 10 % while it is going to hit the resistance of the market , unless we see some surprising events from the White house.
I am still new to this so my apologize if something is missing .
I am opened for all suggestions and recommendations how to improve myself .
Thanks you for understanding ...
REM descending resistance breakoutJSE:REM has broken through a descending resistance level. If it confirms by closing above it at the end of today, we would be looking at a long position tomorrow.
NED - Possible reversal imminent JSE:NED formed a doji candle yesterday which means that the market has lost it's sense of direction and is vulnerable to change. Keep an eye on it and if it breaches around the 23600 level, I will consider a long position.
AMS Piercing line JSE:AMS has formed a piercing line at a support level. This could signal an upward move.
TFG Heading for strong supportJSE:TFG is heading downward towards a very strong support level that it has tested 7 times in the past. As always, wait for confirmation, but we can possibly expect a bounce off support and a move upwards.
FSR - Bounce or Break?FSR is at quite a significant support level and as things stand, it could bounce off the support level and continue upwards or break through and head downwards. Either way, we should still wait for a confirmation candle before jumping in.
AGL - Broken through previous lowsJSE:AGL has broken through a quite significant support level and confirmed it with an open and close below. We could continue downward with the current momentum.
AGL - Broken through previous lowsJSE:AGL has broken through a quite significant support level and confirmed it with an open and close below. We could continue downward with the current momentum.
USD/ZAR weekly downtrade but daily created uptrend opp.Firstly USD/ZAR weekly downfall (yellow lines) started in 03/09/18 is still continuing and it may continue until May 2020. It's also supported by RSI and Parabolic SAR indicators. Support line of this trend is 13,82. You can see the chart attached below;
On the other hand when you zoom in to daily chart; Steep downtrend in green line has been broken both on price and RSI indicator.
You can see the 13,82 support worked very well, it tried to break support 5 times but rejected each time. After that the price broke the green downtrend and started to go up to yellow resistance line.
Geren arrow: Critical point in here is that if it can break the yellow resistance trend (started in 3/9/18) and go up to 15,47 resistance which seems unlikely to me but possible.
Red arrow: Or would it fail to break 14,75 (yellow line) resistance and go back to weekly downtrend channel. This way it may test 13,82 support again.
For both scenarios we have to check if the moving average (orange) will break thorough bollinger and if RSI will break the yellow downtrend and 70 point.
My play would be waiting until it reaches yellow weekly down trend line, than to see the reaction to see break/bounce and go with it.
#USDZARTime range specified;
We have divergence;
In case of successful breakthrough of Methuen Yellow Range to Green areas;
Support and resistance are identified;
APN - Triple bottom formingJSE:APN seems to be forming a triple bottom at the bottom of a parallel channel. If it fails to make new lows, we could possibly see a long movement up towards the top of the channel.
NPN Triangle BreakoutJSE:NPN has broken out of an ascending triangle and looks good for a small upward move.
Naspers possible reversalJSE:NPN has broken through an ascending support level with a bearish engulfing candle. Looks like a downward move will happen if it is confirmed by today's price action.
