USD/ZAR Bearish Flag and SHORT TERM Short Idea

This idea is for demonstration and educational purposes and does not constitute a signal to buy or sell. One must study price action to confirm direction of price at each key zone in the market. This idea has been labeled as a short term short idea as part of a bearish continuation after a flag formation. After an extended time of bearish momentum last week, we see what appears to be a bearish flag forming. When the market opens this week we should watch price action for movement to the noted key zone. We can also watch price to flag and pull back to 50% of the impulsive move down. After bearish flag formation, watch price action for continuation downward and possible descending wedge formation. Trade at your own risk and always use proper risk management.

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Trade closed: target reached