THE ZAR FELL MORE THAN 2% YESTERDAY AFTER THE SARB LEFT ITS MAIN LENDING RATE UNCHANGED. THE 2018 GROWTH FORECAST WAS ALSO REDUCED TO 1.2% FROM 1.7%, AND I GUESS THE MARKET SAW THAT AS A REASON TO SELL THE ZAR. PERHAPS ITS WORTH HAVING A LOOK AT SOME ZAR PAIRS IF YOU WANT TO GET IN THE ACTION.

USDZAR DAILY

MARKET IS BULLISH, AND PRICE IS ALSO BULLISH. RESISTANCE IDENTIFIED AT MM3 PIVOT. MAYBE THIS HEADS ALL THE WAY UP TO MM4 PROVIDED WE GET MORE DOLLAR STRENGHT AND THE ZAR WEAKENS FURTHER.

USDZAR H4

IF YOU BOUGHT THIS PAIR AT THE START OF THE WEEK AT WM2 THAN YOU HIT YOUR WEEKLY SWING TRADE TARGET. I SEE PRICE PULLING BACK TO THE CENTRAL PIVOT FROM WM4 RESISTANCE. A PULLBACK IS WHAT YOU WANT IF YOU ARE A BULL.

USDZAR H1

MARKET IS BULLISH ON THIS CHART, AND PRICE IS CURRENTLY PRINTING A PULLBACK. DPP IS CURRENT SUPPORT, FURTHER SUPPORT AT DM2 WHICH COINCIDES WITH MPP AND WM3.

EURZAR DAILY

MARKET IS BULLISH. PRICE FOUND DYNAMIC SUPPORT AND BOUNCED OFF THE 55 EMA JUST ABOVE WM2. 55 EMA PREDICTS A DOUBLE TOP BUT BULLS WILL PROBABLY HOPE THAT DOESN’T HAPPEN AND PRICE MAKES ITS WAY TO MM4. RESISTANCE IS AT MM3.

EURZAR H4

SIMILAR TO THE USDZAR CHART, BULLS BOUGHT AT WM2 AND EVEN THOUGH PRICE DIDN’T QUITE MAKE IT TO WM4, IT WAS STILL A GOOD WEEKLY SWING. SUPPORT IS AT WPP/MPP.

EURZAR H1

MARKET IS BULLISH, PRICE IS PULLING BACK TO SUPPORT AT DPP. BULLS WILL PROBABLY WANT TO LONG AT ROLE REVERSAL SUPPORT. THE GREEN BLOCK REPRESENTS THE FIBZONE SWEETSPOT AND A POSSIBLE AREA FOR PRICE TO BOUNCE.

USDZAR DAILY POST TRADE PLAN ANALYSIS

TECHNICALLY BUYING AT MM2 IS A BULL'S DREAM. BEARS HAD OTHER PLANS THOUGH. PRICE REVERSED WITHOUT EVEN GETTING TO MM3 RESISTANCE PIVOT. IF PRICE BREAKS THROUGH MM2 THAN I'LL WAIT FOR A LOWER HIGH.

USDZAR H4 POST TRADE PLAN ANALYSIS

TO GO LONG WAS THE PLAN, HOWEVER I MISSED MY ENTRY AND BOY AM I GLAD I DID. BUYING THE HIGHER LOW WAS MY INITIAL THOUGHT BUT BEARS SOLD AT WM3 AND PUSHED PRICE DOWN AND DASHING WHATEVER HOPES BULLS HAD.

EURZAR DAILY POST TRADE PLAN ANALYSIS

ON THE DAILY CHART I BOUGHT JUST ABOVE TH3 MM2 AND ON 55 EMA DYNAMIC SUPPORT. PRICE HOWEVER REVERSED WITHOUT EVEN GETTING TO MM3 RESISTANCE PIVOT. A BREAK OF THE 200 EMA WOULD SIGNAL A CHANGE IN TREND.

EURZAR H4 POST TRADE PLAN ANALYSIS

LAST WEEK BOUGHT THIS PAIR AT WM2 AND BULLS PUSHED PRICE FOR A WHILE UNTIL BEARS OVERWHELMED THE BULLISH MOMENTUM. MY MISTAKE WAS THAT THIS TRADE PLAN WAS BASED ON TECHNICAL ANALYSIS ALONE.

4 thoughts on “GOING AGAINST THE ZAR, 20 JULY 2018”

  1. Vedanth says:

    Howzit Pedro

    Top trade on EURZAR H4…. WM2 was boss!

    Good stuff man…..

  2. Pedro says:

    I’m lekker brother, and thanks for taking the time to check out my plan.

  3. Warren says:

    Just a word of caution on the ZAR pairs.
    This week we have the BRICS summit, today they are at the Sandton Conventiion center.
    This can create volatility in the BRICS pairs.
    Here is the events calendar
    http://www.brics2018.org.za/event-created/month

  4. Pedro says:

    THANKS WARREN, I’LL CHECK OUT THE LINK.

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