Just an idea at this stage though could become a nice bullish swing. Trade based on Platinum and Gold – neither are bearish just yet though keep an eye out. Unfortunately, the tool I use to monitor Platinum prices is not within MT4 so you’ll need to do some investigation on your own. Gold chart shown below. Dollar coming off WM2 further analysis to follow on the daily wrap later.

USDZAR H1

Condition for the trade is a double bottom at WM2 with confirmation of weakness in Gold and Platinum. Two ways to take the trade - trade the double bottom (not a fan) wait for the higher high and trade that. Also, could look for role reversal on M15 as per the following chart.

USDZAR M15

A higher high followed by a higher low. No higher high, no trade. Daily chart says range down to 12.73922. Though if Platinum prices crash Zar is going to weaken.

Gold H1

A higher high at the 21 is expected due to the bullish trend though price is high and MPP is providing resistance. US10Y is currently moving lower so Gold could weaken which could imply a strong Dollar and a weak Zar.

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