Canadian Dollar/South African Rand
No trades
Trade ideas
Long CAD/ZARCADZAR bounced off support on 5yr chart with hidden bullish divergence and these parameters equate to a 2:1 reward to risk ratio: buy at R11.13 with a stop loss at R10.90 and a profit target at R11.60.
CADZAR Trade Signal - Possible LongApproach:
Entry: Break and close of trendline, as indicated
SL: Below Low after beak and close of trendline.
TP: adjusted with sl for a 1:3 R:R
Considerations for setup:
- Bullish Trend
- Support area
- Volume Profile POC
- Weak Fundamentals overall for ZAR
Good luck :-)
cadzar short setupHello everyone heres a potential short based on structure. Selling the E wave of the triangle can be considered after breakdown of structure
Buy cad/zar on the break out .......political risk rules .Zar under pressure on political risk and in IMHO the zar should be materially lower on fundamentals and I still cannot believe SA has not been downgraded. I like it ag the cad as the cad is gradually appreciating.
Entered the trade at 10.8000, stop is at 10.7800 and looking for 11.1000 initially where I will sell out half my long , then intend to run the balance with a trailing stop , raising it as each level is cleared, those being 11.2300 then 11.9800. Once / if 11.1000 is reached the stop will be moved from 10.7800 to 11.0000 to be protective.
