GBPZARCorona virus socializing restrictions have me over analyzing which is bad for trading mentality...last one tonight, just a thought.
GBPZAR
GBPZARThis is for educational purpose regarding the trend analysis and chart pattern of GBPZAR. The overall direction is bullish but I believe it will have to current it's self and fill the voids.
Retest of the trend line break. Short.I mean I cant be the only one that see's the bears are looking for this setup. Adding shorts here.
XAUUSD 8000 pip target4D Timeframe, Gold has not reached its highest price yet. Highest price is 1670.90
GBPJPY SHORT, 380 pipsOn the daily timeframe, price broke the channel and retested an important Fibonacci level (61.8). To execute this trade we have to wait for a break and close under 141.427 because it was our previous resistance and now acting as current support. Our take profit will be set at 137.583 which totals up to 380 pips. Stop loss will be set at 148.243
Analysis on GBPZAR 1.11.2019The price above 200 MA, indicating a growing trend.
The MACD histogram is above the zero lines.
The oscillator Force Index is above the zero lines.
If the level of resistance is broken, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Long Position
• Entry Level: Long Position 19.7000
• Take Profit Level: 20.0000 (3000 pips)
If the price rebound from resistance level, you should follow the recommendations below:
• Timeframe: H4
• Recommendation: Short Position
• Entry Level: Short Position 19.4500
• Take Profit Level: 19.4000 (500 pips)
GOLD
A possible long position at the breakout of the level 1515.00
EURUSD
A possible long position at the breakout of the level 1.1180
USDCHF
A possible short position in the breakdown of the level 0.9850
GBPUSD
A possible long position at the breakout of the level 1.2980
GBPZAR UpdateThis trade went well, can risk some profit here to ride it back down. Target hit and now bearish ABCD.
Use a tight stop loss.
Good luck traders
Last trade here:
Pound for pound, GBPZAR!Hello Traders
I have never been a big fan of candle formations but I saw this as I was scrolling through my FX watchist, seems like a perfect cup & handle to me.
Good luck
