expect ZAR to strengthen against the dollar about 20 cents +-, I have opened a short position with the size of (50000USD), speculating that the ZAR to strengthen in the short term within a day or within a few days to 19.785+-.
Stop Loss is around 19.05+-, take profit is 19.785+- , the entry price is 19.00+-
Trade active
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moved stop loss to 19.075
will hold position over weekend
Trade active
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Position still open, barely missed stop loss.
Moved stop loss to 19.99, will not move higher than this otherwise risk reward ratio not right.
@JoeChampion, I did not share the analysis, sorry, will try to apply more effort here but mainly its a bit of technical analysis, a bit of range/swing trading (within a range of a high and low), and then some fundamentals like the USA likely not to rate hike as much etc. or the higher oil price which could have been affecting the ZAR negatively
and then its just random, a hunch.
I think what really works is the risk management more than anything else (the risk to reward ratio).