After Wednesday's bearish outside day, this could be a nice opportunity for those looking to get short.
Price now firmly below D1 cloud with all 3 lines supporting the break.
Stop loss placement depends on risk profile with a case to be made for several levels, yesterday's high (17.21), recent swing high (17.53) or even above D1 cloud (around 17.75).
I prefer a tight stop above yesterday's high at 17.23 as have little appetite to sit in a losing position and EM risk could return quickly.
Nice positive carry for being long the Rand too
Price now firmly below D1 cloud with all 3 lines supporting the break.
Stop loss placement depends on risk profile with a case to be made for several levels, yesterday's high (17.21), recent swing high (17.53) or even above D1 cloud (around 17.75).
I prefer a tight stop above yesterday's high at 17.23 as have little appetite to sit in a losing position and EM risk could return quickly.
Nice positive carry for being long the Rand too