USDZAR (ZAR- SOUTH AFRICAN RAND) ANALYSIS

 Hello traders, USDZAR price rallied into a key H4 and daily chart supply zone at 17.23300 & 17.06398 which is the origin of the previous drop to the H4 and daily demand zone at 16.25585 & 16.12055. Price has filled the major range from the supply zone to demand and back to supply. Price rallied into supply at 17.11520, formed candle close inside supply then dropped away from supply in one large bearish engulfing candle on H4 that closed below supply, this forming a major confluence for my short bias. 
Took sell entries during London session at 17.00530 with SL at 17.10110. Price retraced to retest 17.07300 then dropped again by a push away from supply and formed a lower low at 16.93257, an additional confluence for the bearish sentiment. Setup taken is a rally base drop, a reversal setup and my target is at 16.31100 which is close to the H4 demand zone as I anticipate price to drop back to demand. 

Price dropped 415 pips to the 1st H4 low at 16.73460 confirming the bearish sentiment as price dropped with strong momentum. Price failed to break the H4 low and rallied back to supply again. I closed out my positions in 400 pips profit after price failed to break the H4 low but looking into re-entering the shorts again if the supply zone holds and causes a similar reversal.