Fundamental & Technical analysis on USDZAR shorts
Fundamental: Open Interest on the South African Rand is increasing which is a Bearish signal/confluence. Commercial (Hedgers) Short positions are also increasing which for Exotic pairs like USDZAR means they are covering their Longs and add yet another Bearish confluence. Non-Commercial is also increasing its Long positions which is once again Bearish since you have too see it from a 180 degree view point.
COT Report: cot-reports.com/commitments-of-traders-cot-reports-non-commercial-detailed/
Technical: On the Technical Analysis side of things we have the 5 EMA crossing down the 20 EMA at the same time that Momentum is negative and the Stochastic %K line is underneath the 50% line
Stop Loss & Take Profits: To determine my Stop Loss and Take Profits I use a Fib Retracement drawn from a recent significant Low to a recent High. My strategy uses the 0.236 Fib LVL as the Stop Loss, for this trade that means 18.51172 on the chart is my Stop. Take Profit #1 is at Fib LVL 1.272, Take Profit #2 is at Fib LVL 1.414, Take Profit #3 is at Fib LVL 1.618, Take Profit #4 is at Fib LVL 2, Take Profit #5 is at Fib LVL 2.272, and my final Take Profit which is #6 is at Fib LVL 2.618.
COT Report: cot-reports.com/commitments-of-traders-cot-reports-non-commercial-detailed/
Technical: On the Technical Analysis side of things we have the 5 EMA crossing down the 20 EMA at the same time that Momentum is negative and the Stochastic %K line is underneath the 50% line
Stop Loss & Take Profits: To determine my Stop Loss and Take Profits I use a Fib Retracement drawn from a recent significant Low to a recent High. My strategy uses the 0.236 Fib LVL as the Stop Loss, for this trade that means 18.51172 on the chart is my Stop. Take Profit #1 is at Fib LVL 1.272, Take Profit #2 is at Fib LVL 1.414, Take Profit #3 is at Fib LVL 1.618, Take Profit #4 is at Fib LVL 2, Take Profit #5 is at Fib LVL 2.272, and my final Take Profit which is #6 is at Fib LVL 2.618.
Transaction en cours
I have entered a Short position near the 0.786 Fib LVL which ends up being around 18.10112 on the chart. If Take Profit #1 is hit then I will be taking off half of my position, at ever following Take Profit I will be taking off another half.Trade fermée manuellement
Take Profit #1 has been hit so i have taken half of my position off. I've moved my Stop Loss to break even and I will let the runners run.Trade fermée manuellement
I have taken another half position off at Take Profit #2, which is Fib LVL 1.414. My Stop Loss is still at break even for this trade, if you'll like you can move the Stop Loss lower into profit but i personally like to keep it at break even just incase we get a small reversal followed by more selling. Trade fermée manuellement
Take Profits #3 & #4 have been hit if you are still letting runners go. Stop loss is still at break even, there are still some TP lower to target so keep your eyes on your trades 
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Publications connexes
Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.