USDZAR Daily

Anybody else on this? I know the spread is huge but I have made three consecutive winning trades, trading this channel. I shorted at 10.7672, currently it is at 10.4712. I am looking for approx 10.4000.

This is my demo account, I am in live Oanda and not nearly as profitable as I would have been live at ODL. I always suspected that the "I don't care what the spread is" crowd had a major flaw in their theory but now I am convinced.

Gaps suck! At least the wrong way ones but I am looking at this as an opportunity. I added to my position at 10.5387. I see no reason why it won't continue to fall. 23.6 fibo should act as resistance. I feel pretty good about it right now.

What's up with the ODL demo? My charts didn't change but the account went dead? Does anybody know anything about this?

Fell faster than I anticipated. It's broken the bottom of the channel currently in the 10.1200 area. I moved my stop to 10.2500, that appears to be the most likely support area for a short.

Pair has fallen to .0688. Other than the swap, I am running out of reasons to leave it open. I have locked up a huge profit so I am going to move my stop all the way to .0125 which will basically close it out. But, if for any reason it stalls where it is with no move up, I catch the swap.

I got my swap and man does it suck! I thought it would be a little fatter. 16.83 per lot. That's less than 10% of the spread on this pair. I know, I could have calculated it myself. Anyway this trade is closed.

I'm long at 9.9037. It looks like a decent wave to me. The 38.2 held nicely and the 62 ema is acting as a layer of support. I am looking at the 23.6 line which is in the area of 10.6, with a stop around the 62.

Moved my stop up to break even. But, I will admit everything inside of me wants to take this profit and run. I am trying to stick to the setup but if it falls to stop me out at break even I will be sick to my stomach. This pair is so damn voliatile that no stop is safe from being whipped out.

Currently in the 10.1 area, at 10.25 there are some previous resistance/support levels that could push it back some. I will push my stop up once we reach 10.2 and wait for it to break through.

Ok, I can't take it. I moved my stop up to 9.9990. I have to take some profit, I can't handle it emotionally. This may be basically taking me out of the position but I will be able to jump back in with any momentum.

I added RSI, Stochastics and macd to my chart just to see where they are in comparison. I don't see anything setting off any alarms. I was looking for a gap down after the weekend to catch my stop but that didn't happen.

I am tempted to add to my position but instead I am going to lower my stop to 9.9500 to allow this trade some room. I feel strongly this pair is going up in the london session. If I am wrong I still catch some profit and I will be looking to get back in as soon as possible.

I trade the USDZAR with Bollinger Bands and love it =) Without USDZAR there would be no hope in life.

On a serious note some people have a problem with being -3k just by entering a trade, just imagine if you sell when you wanted to buy.

Anyways Bolligner Bands on 14,2 on the daily chart are making like 80% wns with the wins being 2 to 3 times higher then the losses.

If you have a large account 75k+ and you trade USDZAR right, you can for sure make 100% in a year.

I put the bands on there. Pair is up to 10.2304. I moved my stop back up to 9.9900. I am shooting for 10.5 at the very least.

Moved stop to 10.3000.

Pair is approaching the 23.6 level. I am very comfortable with my profit but I would like to stay in the trade. This is a big bullish candle so I would expect some profit taking. My stop is pretty tight so if it gets hit I am just gonna have to be happy with what I got but I'm not loosening up my stop. The pair could be printing lower highs if it doesn't break above the november 20th candle. If it does, look out!

First, let me say that I don't know anything about Bollinger Bands. I bought a book on the bands two years ago and never opened it due to time constraints. I am now gonna open that book thanks to code4capital. Clearly the upper band meant something cuz it bounced right off of it.

Also, this trend line clearly represents an important level. The pair broke it but has now retreated back to it. Maybe it acts as support but I am moving my stop to 10.4000. I feel like I am giving money away by not closing the trade right now. There is gonna be some pull back and then it will continue long I think.

Price is reaching exhaustion levels - this pair is about to turn around and start a new trend to the downside. You might get your 10.5, but don't expect a whole lot more.

What are you using for your exhaustion levels? I don't disagree I am just adding anything useful to this chart.

I am using DeMark studies to determine possible trend reversal points. But don't listen to me as I have never traded this pair - I just pulled up the chart and had a quick glance. From what I see the trend is about to reverse, however, you may know how this pair behaves better than I.

Pair gave back most of yesterday's bull candle. Pair is starting to fall into a rangy kind of feel. I am still looking long but not ready to pull the trigger.

I sold at 10.3201 and exited at 10.1388(300 pip SL/TS).

On the 1 hour chart with a Bollinger Band 20,2 it looks like its going ot start a trend of of staying between the middle and lower band. Possibly just riding the middle band down.