THIS ANALYSIS IS BASED ON A BIT OF FUNDAMENTALS AS I APPRECIATE TRADING THIS PAIR MORE ON FUNDAMENTALS AS IT IS VERY SENSITIVE TO THOSE, THIS TIME AROUND IT MIGHT ALSO BE ONE OF THOSE CASES AGAIN. ESKOM, THE POWER SUPPLIER TO SOUTH AFRICA HAS BEEN IMPLEMENTING POWER CUTS, AND THIS USUALLY DRIVES THE RAND WEAK, AND WITH THE TECHNICAL ANALYSIS THE RAND BEING AT A SUPPORT LEVEL, I EXPECT IT TO BOUNCE AT 14.73 ISH WITH MY STOPS AT 14.68-ISH AND TP HIGHER UP AT 15.02-ISH, BUT TRAILING STOPS WOULD BE A BETTER APPROACH IF IT PLAYS OUT WELL. IF THE ISSUES CONTINUE, I EXPECT AN EVEN HIGHER PRICE MOVE. GOOD LUCK. AND PROTECT YOUR BALANCE AT ALL TIMES.
Trade closed: stop reached:
A LOST ONE, SEEMS LIKE THE PAIR IS PUSHING LOWER, BUT WILL BE IN SEARCH FOR REVERSALS ON LOWER TIMEFRAMES