USDZAR posted a doji on Wednesday which is often a reversal indicator. There appeared to be massive buying support around 17.30. I suspect that some have gotten short at the wrong levels. Therefore I've gone long here at 17.50 and I'm looking for a short-term move to the purple zone around 18.00. I also sleep far better on weekends being long USDZAR than short. Happy Friday fellow traders and good luck!
Trade closed: stop reached:
Unfortunately no follow through on this trade. I'm stopping out here at 17.25 and will re-assess. Remember the first cut is always the cheapest!