Legionnaire

Awaiting short entry as topping pattern has emerged short term!!

Short
FX_IDC:USDZAR   U.S. Dollar / South African Rand
2
USD/ZAR has formed a reverse Cup & Handle pattern that if validated could see the pair move 6.65% to the downside in the short term. A break and consecutive 2hr closes below 11.74 validates the pattern and the pair could target 10.94 in a measured move. Momentum is wallowing in the "oversold" region and since price closed on Friday near the 11.74 support leaves scope for a bounce which could turn the pattern into a descending triangle. Waiting for a short trigger.
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