On the weekly chart, a return to the wave after a long period of buying the Rand also marks a test of the broken neckline. This is all you need to go look for a trade on the . Note that the impulse is still green and that keeps me from putting on my full position.
On the , a perfect with confirmed class A divergences on lines and histogram, and a dark cloud cover for the trigger.
As soon as the impulse turns blue on the weekly chart, I will double my short position.
Keep in mind that the Rand yields 7% per year, so the longer it takes for this pair to reach my target, the better.
Soft stop above the , first target at the swing low, if that breaks, look for 12.6.