USDZAR: Sell Trigger on 4HGood morning and happy weekend everyone,
today I bring the chart of the UsdZar pair which shows a sell trigger via my LuBot Ultimate indicator which goes in favor of the short-term trend and the bearish market structure, both on the 4H and on the Daily, highlighted by the color of the candles in red.
The signal is also confirmed by the reversal signals shown above and a close below the previous 2 candles.
The indicator automatically shows exit levels that I will follow for my trade as the stop loss is far enough away to give the market room to breathe if it needs it and to avoid unnecessary stops. Stop which will subsequently be approached if the market moves in the direction of the trade.
The take profit is at the right distance given that we are close to a support zone indicated by the green area of the indicator.
Finally, the EVE indicator below has not shown any major excesses of volatility so we could still expect a strong movement before a possible reversal.
FX:USDZAR FOREXCOM:USDZAR SAXO:USDZAR FX_IDC:USDZAR OANDA:ZARJPY OANDA:EURZAR OANDA:GBPZAR OANDA:CHFZAR SAXO:AUDZAR SAXO:NZDZAR
