Buy opportunity on #USDZAR nearing - Part II
A push above 14.61 will be the trigger to enter long. Now's not the time to buy yet. Posted 5days ago
Readying for a Buy (still no Buy signal yet but close)
Since my last post, we saw the PA had attempted to test near 14.61 level but it then faded quickly. If the price continues to move sideways or consolidate at this level for next couple of 4HR bars, this could be a signal that we likely to see price to push past 14.61 this time and go for an impulsive move to 15.50. I am watching this closely as the Risk/Reward is very lucrative for a LONG position.
Readying for a Buy (still no Buy signal yet but close)
Since my last post, we saw the PA had attempted to test near 14.61 level but it then faded quickly. If the price continues to move sideways or consolidate at this level for next couple of 4HR bars, this could be a signal that we likely to see price to push past 14.61 this time and go for an impulsive move to 15.50. I am watching this closely as the Risk/Reward is very lucrative for a LONG position.
