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Linton_White

Large Correction For More Upside

U.S. Dollar / South African Rand (FX:USDZAR)  
Linton_White  
FX:USDZAR   U.S. Dollar / South African Rand
Trend Analysis Chart Patterns Wave Analysis USDZAR dollar RAND USD ZAR correction correctivestructure wavetheory
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trendanalysis chartpattern waveanalysis usdzar dollar rand usd zar correction correctivestructure wavetheory
USDZAR is currently forming a larger correction that I initially anticipated. This means that the correction that I had looked at before as being a 3 wave correction, was actually only wave 1 of the larger correction. Looking at the current setup, I expect price to break the low of wave one, market with the red line, before there is a reversal to the upside. I will be looking to enter the long when a reversal confirms but may look for smaller trades to the downside in the interim as well.

Happy trading!
Linton White
JP Markets
South Africa
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