- 14.00 is a significant technical level
- post Brexit, Emerging Markets are relatively more attractive destinations opening the way for $/ZAR weakness into 13.00, 12.50 and 12.30
With this is mind;
Buy 14.20 and 14.05
TP1 - 15.40
TP2 - 15.75
In reversal look to enter 2x short below 13.70. Targets 13.00 and 12.30 in extension
- post Brexit, Emerging Markets are relatively more attractive destinations opening the way for $/ZAR weakness into 13.00, 12.50 and 12.30
With this is mind;
Buy 14.20 and 14.05
TP1 - 15.40
TP2 - 15.75
In reversal look to enter 2x short below 13.70. Targets 13.00 and 12.30 in extension
Comment:
$/ZAR made a 13.77 fractal low and trades higher. Expecting resistance into 14.20.
On the lookout for the level of the next low which should be a higher low.
On the lookout for the level of the next low which should be a higher low.
Trade closed manually:
Setup breaks even on reversal at 13.27
Looking forward potential for 13.00 remains. Expecting 13.60 while 13.20 holds.
Looking forward potential for 13.00 remains. Expecting 13.60 while 13.20 holds.
For those looking for shorts; i noticed this 5 wave after posting this setup