USDZAR Net Long Idea
Last week's UZAR post was long biased, however as the week went on, the trade got stopped out at break even
and a new setup emerged from the trade's progression. It appears the wave structure is still in the corrective
phase of the 2nd wave. Structure may be forming a regular flat, with wave C creating an ending wedge pattern.
Expecting a 5th and final wave surge down to the 78.6% of wave one to give us the end of wave 2. Thereafter I
will be looking for confirmation on when to enter the long trade to capture wave 3.
Let me know below in the comments section what you think UZAR will be doing as the week unfolds, looking forward
to learning some new things. Have a blessed trading week.
and a new setup emerged from the trade's progression. It appears the wave structure is still in the corrective
phase of the 2nd wave. Structure may be forming a regular flat, with wave C creating an ending wedge pattern.
Expecting a 5th and final wave surge down to the 78.6% of wave one to give us the end of wave 2. Thereafter I
will be looking for confirmation on when to enter the long trade to capture wave 3.
Let me know below in the comments section what you think UZAR will be doing as the week unfolds, looking forward
to learning some new things. Have a blessed trading week.
Note
UZAR has been performing beautifully, waiting for a long entry confirmation setup, almost ready
Trade active
Trade entered
Note
Price has been consolidating on major support, perfect reassurance that a major move is loading.
Note
And the time has come, lovely move
Note
What an eventful week last week. This is the update of the progress of UZAR. Quite unfortunate, but the journey was exciting and successful in many other terms. Is the long bias still valid? Most likely. But I will be observing it for a clear structure formation as that is what we want, a safe trade.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.