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SOUTH AFRICAN RAND / EURO

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ZAREUR trade ideas

EURZAR LONG on the structure area retestingHi Traders, This is my view on this cross for the next few days. #EURZAR BUY 18.067 SL 17.837 TP 18.5 I remind you that this is only a forecast based on what current data are. Therefore the following signal will be activated only if specific rules are strictly respected. If you follow my strategy you will be able to identify the right filters and triggers to enter correctly the market and avoid fake signals. I really hope you liked this video and I would like to know what do you think about this analysis, so please use the comment section below this video to give me your point of view. Thank You ——————————— Trading Kitchen
Long
by kitchen_trading
EUR ZAR (possible long entry - possible to be a VERY big trade)This is another easy and straight forward setup. This appears to be an Elliot wave 5 wave fractal pattern. It seems to me that we are probably in wave 4, though I do not think wave is finished yet. Wave 4 likes to finish near the top of wave 1. We should be in the ABC/complex correction of the minor waves. We are in a small uptrend that is actually a bear flag in the overall bigger picture. However, it seems we still have upside potential. I will be looking for price to breakout of the counter trend line, probably near the current support level, then ride the counter trend line down to the false break zone near the very bottom trend line. We have stronger support here, the top of wave 1, and an expected place for the bottom of wave 4 to rest. From here it is a long way up to the conservative take profit just before the top of wave 3. If wave 5 is not truncated we can expected a much much bigger move past wave 3 and off of the screen shot. Massive pips can be made off of this trade.
Long
by sgsummers