USDZAR trade ideas
USDZAR-BUY strategy 8-Hourly chart Heikin AshiThe overall picture has not changed. We are oversold, and likely we will see recovery coming week. However, the move is not a confirmed one, and therefore SL should managed carefully.
Strategy BUY @ 17.4759-17.5500 and take profit @ 17.8550 for now. SL based on personal risk appetite
note: if one has long position already, ensure leverage is managed properly.
USDZARIn Q2 of 2023 we saw an impulsive bearish move. Presently we have completed a bullish correction that has shifted orderflow from bullish to bearish. We have a break of key structure on the daily time frame. Presently we are awaiting a minor bullish correction targeting the FOB then resume the bearish orderflow.
USDZAR-BUY strategy 6-Hourly Heikin AshiWe have pushed lower near 17.5500 area, but now its stalling. We are starting to be in oversold country, hence we should see recovery, it my personal view. Further, adding GOLD is overbought, and this should give also some support to the idea of higher level for the pair.
Strategy BUY 17.6000-17.6500 and take profit near 17.8750 for now. SL based on personal risk appetite.
Rand going upThe Dollar has been weak n is getting weaker n the Rand is getting stronger by the day
from point 17.88249 the Dollar has been losing its steam n the Rand has accumulating from those Dollar losses, now the price is trading below the Sep 12th n 16th and showing no real sign of breaking to the top side of the trend line to close above...
The price will then look to create more steam on Rand for it to keep on growing, n the next price level for Rand on Dollar is 17.41700
Details on trade set up on chart
Dollar to slip down n Rand to growThe Dollar has been weak n is getting weaker n the Rand is getting stronger by the day
from point 17.88249 the Dollar has been losing its steam n the Rand has accumulating from those Dollar losses, now the price is trading below the Sep 12th n 16th and showing no real sign of breaking to the top side of the trend line to close above...
The price will then look to create more steam on Rand for it to keep on growing, n the next price level for Rand on Dollar is 17.41700
trading set up on the chart
USDZAR-SELL strategy 12 Hourly Heikin AshiWe are still under pressure and breaking below 17.70s does not bode well. I feel we may see somewhere 17.4500 - 17.5000 area in the short term. Thereafter, it will becoke a medium term buy.
Strategy SELL @ 17.6805-17.7500 and take profit near 17.4750. SL based on your own risk appetite.
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USDZAR BUYPrice just bounced off a good zone on the fibonacci, with the antici [ation of an impulse + its NFP what are the chance that we are going up with a big candle?
USDZAR Possibility VS ProbabilityA descending channel looks to be forming on USDZAR. Look for sell around 17.96 with stop losses at 18.06. Price should target 17.56
USDZAR-BUY strategy 3Daily chart Heikin AshiFrom a strategic point of view, the pair has room to move back somewhere 18.6500 medium term. The pattern and indications, suggest we are building a base, and I feel we may see coming weeks a larger move higher.
Strategy BUY @ 17.8000-17.9000 and take profit @ 18.4350 for now. SL based on risk appetite.
USDZAR-SELL strategy 8 hourly Heikin AshiThe pair has been climbing with uncertainty. There is more room upwards I feel.
Strategy SELL @ 17.9800-18.0150 and SL based on risk appetite, and profit order @ 17.6850 for now.
How I Made $2M in the Stock Market | Daily Trading PsychologyNicholas Darvas, a name that echoes through the annals of trading history, was not your typical Wall Street insider. A professional dancer by trade, Darvas' entrance into the stock market was as unconventional as his approach. His book, How I Made $2,000,000 in the Stock Market, offers insights that are as relevant today as they were in the mid-20th century. But the core of Darvas' success wasn’t rooted in complex algorithms or insider information—it was rooted in his mindset.
Darvas' journey is a testament to the idea that trading is 95% mental and only 5% technical. He didn't rely on flashy indicators or news headlines to guide his trades. Instead, he developed a disciplined, almost detached mindset. This stoic approach allowed him to navigate the unpredictable waves of the stock market with a level head, something that many traders today still struggle to achieve.
The essence of Darvas’ method was simplicity combined with self-control. He famously developed the "Darvas Box" theory, a straightforward yet effective technical analysis tool. However, it wasn’t the box that made him millions; it was his mental approach to the market. He treated trading as a business, with strict rules and a clear strategy. When the market moved against him, he didn’t react emotionally or second-guess his strategy. Instead, he adhered to his plan, trusting that his disciplined approach would yield results in the long run.
For traders looking to elevate their game, Darvas’ experience offers a critical lesson: master your mind, and the rest will follow. Emotions like fear and greed are the biggest enemies in trading. By maintaining a calm, almost indifferent attitude towards market fluctuations, traders can avoid the pitfalls that come with emotional decision-making. This mental fortitude allows for a focus on the bigger picture, rather than getting caught up in the noise of daily market movements.
In practical terms, this means developing a trading plan and sticking to it, regardless of short-term results. It means setting clear goals, knowing when to enter and exit trades, and—perhaps most importantly—accepting losses as part of the game. Darvas didn’t win on every trade, but his stoic mindset ensured that when he did lose, it didn’t derail his overall strategy.
In the end, the real takeaway from Darvas' story isn’t just about the money he made—it's about how he made it. By prioritizing mental discipline over technical complexity, traders can position themselves for long-term success. The markets will always be unpredictable, but with the right mindset, traders can navigate them with confidence and clarity.
T. L. Turner
USD/ZAR Reaches Key Demand Zone: Are We Set for a Reversal?The USD/ZAR currency pair has reached a significant demand area around the 17.72800 level, presenting a potential opportunity for a long position. This critical zone has caught the attention of traders and market analysts alike, especially those looking for a reversal setup based on market positioning data and technical indicators.
COT Report Insights: A Contrarian Indicator
A deeper dive into the Commitment of Traders (COT) report reveals intriguing insights into market sentiment for the USD/ZAR pair. The data shows a notable divergence between retail traders and commercials. Currently, retail traders are predominantly short on the USD/ZAR, betting on further declines in the pair. On the other hand, commercials—who often represent larger, more informed institutional players—are also short on the Rand in the Weekly Futures market. This contrarian stance by retail traders and commercials indicates that a significant market move may be on the horizon.
Market Positioning and the Case for a Reversal
The current market positioning suggests a classic oversold condition for the USD/ZAR pair. An oversold market is typically characterized by excessive selling pressure that has pushed prices lower than what underlying fundamentals might justify. This often leads to a potential reversal as market forces balance out and traders begin to cover their short positions.
The convergence of these factors—an oversold technical condition, retail traders being heavily short, and commercials positioning themselves short on the Rand—sets the stage for a possible bullish reversal. Such a scenario could see the USD/ZAR pair rebound from the current demand area and make a move higher, as buying interest emerges to drive the pair up from its current levels.
Technical Analysis Supports Bullish Outlook
From a technical perspective, the 17.72800 demand zone has historically served as a strong support level, where buying pressure has previously emerged. This zone has acted as a magnet for price action, attracting significant buying interest whenever the pair has approached it. The current price action shows signs of stabilization around this key area, further bolstering the case for a bullish reversal.
Additionally, the presence of bullish reversal patterns or signals, such as candlestick formations or momentum indicators turning upward from oversold levels, would add further confirmation to the potential for an upward move. Traders and analysts are closely monitoring the price action for these confirming signals to enter long positions with more confidence.
Conclusion: Preparing for a Bullish Reversal
Given the convergence of factors—COT report insights, oversold conditions, and technical support at the demand zone—the USD/ZAR pair appears primed for a potential bullish reversal. Traders should keep a close watch on upcoming price action and market data for further clues on the timing and strength of this anticipated move. As always, it's essential to manage risk carefully and consider both fundamental and technical aspects when planning trades.
With the USD/ZAR trading near critical levels, a well-timed entry could offer a favorable risk-reward setup for those anticipating a reversal and subsequent upward movement in the pair.
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USDZAR 09/09/2024Weekly:
-Weekly lows.
-Inverse H&S pattern.
Daily:
-Inverse H&S pattern.
-IC.
4H:
-Bullish M pattern.
-Inverse H&S pattern.
USDZAR BUYSBuys on USDZAR after price fulfills the previous high of the over all H4 low and confirms with a 1 hour candle @ 14:00
USDZAR 18.02 BoundThe bullish trend has resumed on this pair. Last week we saw promising bulls from 17.65 into 17.88 as predicted in our previous setup. Buyers can look to place more entries around 17.77/17.80 area. Target is 18.02
Buy Signal on USD/ZAR at Market Open on September 9Description:
This idea analyzes a buy signal on the USD/ZAR 1-hour chart, highlighted by the yellow bar. The signal is expected to activate at the market opening on September 9, based on the following conditions:
Signal Conditions:
Moving Averages : The chart uses two moving averages: a 50-period SMA (red line) and a 26-period EMA (blue line). The buy signal occurs when the EMA crosses above the SMA, indicating a potential upward trend reversal.
Gray Zone : The gray zone shows that the current price is above the previous day's closing price, signaling bullish momentum and reinforcing the buy signal.
Bull Bear Power with Line Indicator : The indicator shows increasing bullish pressure, with the green histogram rising into the positive zone, further confirming the upward move.
These conditions suggest a strong potential for price continuation to the upside after the market opens.
Trade Setup:
Entry Point : 17.8660
Stop Loss : 17.5036
Take Profit : 18.0690
Disclaimer : This idea is for informational purposes only and does not constitute financial advice. Always conduct your own research or consult with a professional before making trading decisions.
USDZAR BULLSAt our POI demand zone. Price to find strength on the POI, to sweep the buy-side liquidity.TP3 @ 17.80305
Bullish bounce?USD/ZAR is falling towards the pivot which has been identified as a pullback support and could reverse to the 1st resistance which acts as an overlap resistance.
Pivot: 17.64039
1st Support: 17.47874
1st Resistance: 17.84762
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USDZAR Weekly ChartHard to admit, but USDZAR is on an uptrend. I believe we have found a bottom between 17.69 and 17.50. In this area, we can place our buys. Tomorrow it's NFP and we may see a sharp drop towards 17.51 an then the bullish run will commence. Hopefully price can drop to 17.51 before the news release, that way we can be certain to buy before the news release. Good luck everyone, may we all be profitable. Check out my GBPUSD analysis
USDZAR-SELL strategy 8-hourly Heikin AshiThe pair reached the near profit objective on the buy strategy, and now its negative territory based on heikin Ashi, almost negative SMI and AO and BB trend show potential lower levels to be seen.
Strategy SELL @ 17.8000-17.8450 and place profit somewhere @ 17.5850 for now. SL based on your own risk appetite and leveraging of course.
