DislikedHey I'm not Ken, but still I do trade UZAR every week. Be very careful here and if you do plan to go short (which I kinda see why looking @ HTF charts) now is a very bad timing. Last 11 years UZAR went up in May, so just be careful you are shorting into strong USD seasonal pattern. Anyway good luck and take care. PS: here's a supplementary chart on daily. One way of looking at weekly is that we topped out with the pinbar. However, if you look at daily it looks more like a bullish flag pattern in the uptrend and you'd be shorting right...Ignored
I checked the history of this pair in May of the last 11 years, and I found out that in 2009 actually it went down, and in 2007, 2008, 2011 and 2014 it went up but it was a very small candle, so this seasonal pattern doesn't bother me too much, nor do the candlestick patterns because I don't give them much importance.
The main reason for me to be careful with shorts is that in the last 2 months USD/ZAR made 3 spikes towards the upside, and if one of those happens again, it can easily hit my (relatively large) stop loss.
I wish you good trading.