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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
Ascending Triangle Breakout - LHCJSE:LHC has just broken out of a ascending triangle that it has been forming since mid November last year. Because of this I have entered a long position. An ascending triangle is a chart pattern used in technical analysis. It is created by price moves that allow for a horizontal line to be drawn along the swing highs, and a rising trendline to be drawn along the swing lows. The two lines form a triangle. Traders often watch for breakouts from triangle patterns. The breakout can occur to the upside or downside. Ascending triangles are often called continuation patterns since the price will typically breakout in the same direction as the trend that was in place just prior to the triangle forming.
JSE:LHCLong
by RossLarter
Sideways channel on BidvestJSE:BVT is trading in a sideways channel and has been since mid-November last year. It has reached the top of the channel and will most likely bounce on the resistance and continue downwards. I will enter a short around the 21600 level if it goes down. Our target level will be the bottom of the channel around the 19000 level, which is also a significant level because round numbers tend to act like magnets for the price action. If it fails to bounce off and breaks through the resistance, I will consider entering a long position.
JSE:BVTShort
by RossLarter