USDZAR MARKET ANALYSIS

 Good morning traders, it's another beautiful day with showers of blessings from the heavens as the rains finally have kicked in after quite a long time and also the blessing of more profitable opportunities in the markets. Into the markets today, USDZAR dropped from a major H1, H4 & daily chart supply zone at 18.62253 & 18.46107 which is the origin of the previous drop to the H4 low at 18.08462. Price dropped to the H4 low then retraced and rallied back to retest supply again before a continuation of the drop. Price filled the H4 range from the major H4 & daily chart supply zone to the H4 low at 18.08462 and back to the major daily chart supply zone. Price tapped supply and activated my pending sell limit orders at 18.46200 with SL at 18.55000. Setup taken is a rally base drop, a reversal setup. Price formed a strong rejection wick on H1 & H4 with candle close below supply followed by a slight consolidation then a strong H1 bearish candle during London session confirming the bearish sentiment.