USD/ZAR ContraTrend Buy - Head and Shouders

This is for educational and study purposes and does not constitute a signal but a study.

Studying confluences for a contra-trend buy for this pair. We are in a sell trend, but this would be the retracement before continuation back down. Confluences are as follows:

1. Price is in a key demand zone as highlighted.
2. Trendline confluence on the higher time frame.
3.On the lower time frame H4 we have divergence. I will post this in the comments for your reference at a closer look.

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Comentário:

confluence on the H4

Comentário:

divergence shown above