I will be looking to scale in and also add in multiple positions when the opportunity arises.
The first two levels I'm looking to get involved is 19.0300 sell limit and 18.9500 sell stop order.
My final target is 17.4580.
This is a carry trade.
The estimated calculation for this pair is 1 lot 1 pip $0.55.
*Disclaimer - This analysis alone DOES NOT warrant a buy or sell trade immediately. Before you enter any trade in the financial market, it is very important that you have a proper trading plan and risk management approach.
The sharing of this idea is neither necessarily indicative of nor a guarantee of future performance or success.
Excellent post, thank you! I did something similar with the dollar/rand in the previous 3 years, but the technicals, fundamentals, and interest rate differentials favor this pair going forward. Margin is relatively high, but excellent carry with good r/r trading