Forex Tips & Ideas

Day Trading Forex Idea& Tips

After trading successfully stock market last week and commodity, this week I prefer to be on Forex.

On of the trade – Short, I’m looking for, is on USD/ZAR. If the daily are starting well, will keep it for longer term (weekly).  There’s are few trade to take on forex, but this one are so far the most interesting on ROI%.

Day Trading Forex Weekly Chart

On weekly chart, USD/ZAR are on strong bull trend. How ever, it seem they are it loose a momentum to keep pushing. By trading in range it is, from the highs history level with many unsupported price, it seem, it can be a pretty good short one.  If it start great, and my position are preventative, I’m looking to use Fib.Retracement for my adding targets or selling them.

Day Trading Forex Daily Chart

On daily Chart, we also can see, after reaching 50% retracement Fibonacci, and creating a double top, it looking to break the small bullish trend.

Now…let’s see if Bullish trend will be broken.