Get started
mrsceleste

USD/ZAR Long Idea - Double Bottom

Long
U.S. Dollar / South African Rand (OANDA:USDZAR)  
mrsceleste Updated   
OANDA:USDZAR   U.S. Dollar / South African Rand
Supply and Demand Trend Lines Double Top or Bottom USDZAR usdzarlong RAND south africa
6
0
supplyanddemand trendline doubletoporbottom usdzar usdzarlong rand south africa
Double bottom formation at key level in the market. Note the strong wick rejection (doji) around the key demand zone, as circled. Price will pull back some and it will take some time for this idea to come to fruition IF it does. I put my stop loss beneath the double bottom for a low risk to reward trade set up. Please see linked idea below to follow from start. I closed out of that trade to enter this one. Trade at your own risk. Follow me on Instagram (see below) for more updates and shares.
Trade closed: target reached

Related Ideas

mrsceleste
USDZAR Long Possibility - Can the Rand Withstand the Pressures?
mrsceleste
USD/ZAR Short Idea
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.