USDZAR bullish price action to continue the week of 05 Sep 2022
This pair has had a very nice bullish run since Apr. The bulls have broken above the s/r area around 17.150 and I am looking for a pullback to this area and evidence of bullish continuation.
If this happens, the first target would be the 17.685 area with the potential for continuation much higher. Even with a generous stop, we can have a +3.5R trade.
Always use sound money and risk management and stay patient in all your trades.
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If this happens, the first target would be the 17.685 area with the potential for continuation much higher. Even with a generous stop, we can have a +3.5R trade.
Always use sound money and risk management and stay patient in all your trades.
If you like my analysis, please give it a “thumbs up” and follow me to get even more awesome content.
What do you think about this trade idea? Please comment and share your thoughts!!
Trade active:
The pullback was perfect and price made new highs. I could have closed it short of my target, but prefer to wait for the target to be hit. Stop has been moved so that I have a few pips of profit if it does not.