Alex.Singletary
Long

Potential longterm uptrend to continue here

FX:USDZAR   U.S. Dollar / South African Rand
148 2 6
Despite this week profit taking on the dollar, the uptrend is still intact. I have started positioning back on dollar buys and this particular pair has stayed lower throughout most of the dollar strength, and finally the ZAR             is showing some weakness. There are a lot of confluences here. We have the holders sentiment showing life in the green as well as CCI coming out of OS + RgMov uptrend. I will risk to a new daily low here. Lets see if we can get this one!

Also note the potential ABCD pattern that could unfold here. Good luck. Size appropriately.

THIS IS NOT TRADING ADVICE.
Comment: Great progress. if not in can still enter, just need to use a tighter stop
Comment: we closed at the high on friday out of all positions for now. The job report was very mixed, so I do see some more dollar weakness coming into the next week.
Possibly a good one in the long run.
Reply
Looking great.
+1 Reply
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