Hello, my dear friends and the fellow community members.
The USDZAR bulls look like halted at the resistance posed by the horizontal resistance line. I am short in the pair with the target at 11.5000 levels. and stop loss above 12.74. I am expecting the pair to move in the channel as shown in the image attached. Although the pair is making higher highs and the higher lows on the 4H chart but the weekly trend down may not be ignored and this may be a very good chance to go Short. So I jumped in.
Happy trading to all.
The USDZAR bulls look like halted at the resistance posed by the horizontal resistance line. I am short in the pair with the target at 11.5000 levels. and stop loss above 12.74. I am expecting the pair to move in the channel as shown in the image attached. Although the pair is making higher highs and the higher lows on the 4H chart but the weekly trend down may not be ignored and this may be a very good chance to go Short. So I jumped in.
Happy trading to all.
