USDZAR Long-Term Trading Opportunity 2

expect the ZAR to weaken against the dollar to R16+- per USD in 6-18 months, I have opened a position at R14.58 per USD, that is 33.3% of the total position size I want to allocate, I will open another 33.33% if the ZAR strengtens to around R14.00 per USD, and another 33.3% if the ZAR strengthens even further to R13.50 per USD. 33.3% position size is (30000 USD).

Stop Loss is around 13.49+- (will be adjusted accordingly, this is just a rough stop loss), take profit is 16.00-16.50+-

I see the Interest rate rising for USA weakening the ZAR against the dollar significantly, and also the weakening of the Chinese economy to be 2 big factors that will make the ZAR weaker against the dollar, alongside that, Technical analysis seems to align with that speculation.

Comment:

I have decided to up my position with 100% if the market goes 50% in my direction (or when I am in 50% of total take profit range).

At that point I will update stop loss accordingly to be above opening price.

Its possible this will range again to 15.30 then start retreating back to 14.50+- relatively, it will go on like this before making the move to go to 16.00

Comment:

I have upped my position with 100% at 15.10

Take profit is 15.40-16.00+-

Stop Loss is 14.87

Comment:

political instability on its way, commodity prices falling, Eskom extending power cuts, I see us hitting 15.5 at least very soon if all these events turn out for the worse...

I might take profit there

Comment:

Position upped again with $50000 at around 15.11.

Total position size is $110000.

take profit set to 15.5,
stop loss adjusted to 15.15 (might change if price comes close to it)

How I see it, if it can't get higher highs from this point like 15.50, compared to the previous 15.40 high back early this year, its likely to range back again to 15.00+- or even below 15.00 again before taking direction to cross 16.00

Comment:

upped position with another 20000 USD, now at 130000 USD total.

Adjusted take profit to 15.45
Adjusted stop loss to 15.025-15.10

Trade closed manually:

took profit at 15.42, profit was 52000+- ZAR

Proof:
drive.google.co...-1w-MyYmIq/view?usp=sharin...