FX:USDZAR   U.S. Dollar/South African Rand
8 months ago
Anticipate a downtrend 3rd wave to complete either at the most recent low or at 14.50. With this in mind we look to

Buy 3rd wave completion into the 4th wave extension (note: Stochastic RSI is currently out of sync for this)
TP1 - 15.00
TP2 - 15.39 (3.4 reward:risk)

50% retracement of the 3rd wave is 15.33 so sell levels for the 5th wave move lower are
Sell 15.35 or 15.10
TP 14.15 for 4:1 reward:risk

3x reversals marked in light green

8 months ago
Trade active: Double tapped the entry so long at 17.7143
8 months ago
Comment: Longs closed at 17.92.

Scenario still valid - will look to re-enter longs at 14.80
8 months ago
Comment: Correction of Typos

Entries averaged in at 14.7143
Exited at 14.92

Related Ideas

Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out