Sold small amount of usdzar ard. 13.43..see how {image}
make your own analysis and decisions..just giving some perspective..
Exotics (USD/TRY, USD/ZAR, USD/MXN, and others)
USDZAR Please don't let me thwart your own analysis. As you are aware, I don't trade USDZAR but am watching. Via WK I see a cup and handle. The handle *could* be a double botom formation with 13.3850 as potential entry point. Right now it is at a turning point. Maybe a swing? We'll see.
First, i am very suprised that how nicely MAs are holding last days in 4h timeframe
Weekly and daily looks mixed to me now..uptrend from april may resume soon..in august or september..depends on usd index..despite i expect usd index may break above 100 and 200 MAs in september but it may happen very soon also, since gbpusd looks very bearish..brexit worries..also higher bond yields may bring usdjpy and usd index higher..so EM currencies also may go higher soon..
Besides it seems land issue of SA may cause weaknes in Rand..so, i m shorting carefully with checking usd index and eurusd..i m not so confident with direction..when looking charts backwards, i see trend within trend within trend and so on..
https://www.wsj.com/articles/south-a...ide-1533598238
I cant see easy trades nowadays..no easy money..there was only one clear trend that i have seen..it was usdtry up which i m telling for two months..it has realized sooner and much more than my expectation..but ironically i couldnt benefit much since it has spiked up chaotically usually..now waiting for drop to go long in usdtry..
make your own analysis and decisions..just giving some perspective..
- #75
- Edited 6:05pm Aug 8, 2018 3:21am | Edited 6:05pm
- Joined Nov 2017 | Status: Rebarkable | 1,428 Posts
Hello Guys, I am happy to join you guys in the Exotics , lets catch these pips . With proper risk management we are golden . I like the the idea of 50,100, 200 ...couldn't be on point . My current study is ZAR , though I am in the states ..lol. TRY, just confuses the heck out of me, like its chart reminds me of bitcoin on its rise :-) Anyways , happy to be here and super excited that we have some very open minded and comported contributors in here .... I am happy to join the family , lets hone down and bag these pips guys . Congratulations on your...
Thanks for good feelings..i am very glad your joining us..hope we can earn together..i use 50, 100, 200 MAs as a potential support&resistance area in 1h, 4h, daily, weekly and monthly charts..i decide to trade mainly looking at candlesticks..MAs are giving ideas about possible turning points and if supported by candlesticks signal, usually give good results..
TRY pairs have special difficulty in recent months since it may go up down rapidly according to political issues..and it is difficult to follow those political issues sometimes..instead, ZAR and many other exotics move more depending on global risk appetite..that makes things easier..but of course each country has its own problems..must have some readings about currency's country..i m new in trading usdzar..and from my readings i understand biggest potential political risk for usdzar is land issue..i dont know how much it may affect..but must be aware of issue..apart from that it seems usd index and global risk appetite are crucial things for usd zar and for most of exotics actually..
With my best wishes!
make your own analysis and decisions..just giving some perspective..