Close below previous swing lows at R80 triggers the short trade. R75 first target while R70 is full target. Stop loss will need to be trail in order to make a good R:R trade. Stop loss above R84 (previous day highs)
Trade active:
Trade is still open. Has held that R80 very nicely but has found some support at R76. A close that level will see some selling coming through. 1st and 2nd target still active.
Trade active:
First target was reached on a nice gap down after a trading statement released. Our stop loss remains at a close above R80 while our 2nd target remains at R70.
Trade closed: stop reached:
Friday's close above R80 triggered our stop loss. We managed to hit our first target but lacked further momentum.