USDZAR-SELL strategy 4-hourly chart
The pair has spiked a bit on the back of weakening GOLD price, which is heavily overbought for some time.
Stochastic is slightly negative, and on the high side, but did does not suggest we cannot see it return higher. I rather focus on the pattern, and as depicted, likely a "false bull flag" pattern is the case.
Strategy SELL @ 18.8700-18.9300 range and place SL above 19.0350. Profit order @ 18.6150 for now.
Stochastic is slightly negative, and on the high side, but did does not suggest we cannot see it return higher. I rather focus on the pattern, and as depicted, likely a "false bull flag" pattern is the case.
Strategy SELL @ 18.8700-18.9300 range and place SL above 19.0350. Profit order @ 18.6150 for now.