Buy cad/zar on the break out .......political risk rules .
Updated
Zar under pressure on political risk and in IMHO the zar should be materially lower on fundamentals and I still cannot believe SA has not been downgraded. I like it ag the cad as the cad is gradually appreciating.
Entered the trade at 10.8000, stop is at 10.7800 and looking for 11.1000 initially where I will sell out half my long , then intend to run the balance with a trailing stop , raising it as each level is cleared, those being 11.2300 then 11.9800. Once / if 11.1000 is reached the stop will be moved from 10.7800 to 11.0000 to be protective.
Entered the trade at 10.8000, stop is at 10.7800 and looking for 11.1000 initially where I will sell out half my long , then intend to run the balance with a trailing stop , raising it as each level is cleared, those being 11.2300 then 11.9800. Once / if 11.1000 is reached the stop will be moved from 10.7800 to 11.0000 to be protective.
Note
Trading at 10.8675 this morning. Stick with it, however if you want to be protective do raise your stop to the entry point if you want to make this a free trade.I still think the zar will materially fall.
Note
Stopped at flat.....................SA news the driver, prosecutor said he will re-consider finance minister prosecution. Its in the price now. Sq and will look again
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