USDZAR - Watching price action in key zones

My aggressive entry point moved in my direction initially, but failed to break 13.8 resistance zone and didn't fail to bust the support making a new LL. Based on the 1D, down trend remains intact.

My long bias was formed on the 1W looking for continuation following break of consolidation pattern. That bias has caused me to watch for buying opportunities on the 1D chart. Two recent key candles where 12/7 and 12/12 completed candles which signaled a potential "Buy". Fortunately, I remained out of the trade since confirmation did not occur.

Until new HH/HL have formed on daily, it will be hard to justify a long-term trade (either long or short). Key support zone is identified on chart. Long-term bullish bias is weakened if price tests that support.

1D Wide:
1W: Observations: Run up reached exhaustion 1/2016. Strong bearish price action started a new trend of LH/LL...Consolidation range 8/2016 to 1/2017 when down trend continuation resumed. Consolidation pattern 3/2017 - 10/2017, where price broke out retested support hold and moved to form HH. Text book formation and price movement. Last completed candle (12/04/2017) appeared to be a ideal long entry point. Current bar, while not completed, does not support the long entry. It would need to close at least in the body of the last candle to support long entry.

1M: Red dash lines show LH/LL possible movement. If 12/17 closes as bearish candle, it would be considered reversal price action. Price would then need to move through support area. All very long-term/big picture focused.