I expect a retrace of about 10-20c at the very least, I have personally opened a long position with the size of R350000 (25000USD), expecting the ZAR to weaken in the short term within a week to 14.25+-.
Stop Loss is around 14.08, take profit is 14.20-14.25, entry price is 14.10
Stop Loss is around 14.08, take profit is 14.20-14.25, entry price is 14.10
Note
did not close position when USDZAR went below 14.08. Adjusted stop loss to 14.05Note
adjusted take profit down to 14.195 from 14.20. Let's not have round number targets, round numbers usually indicate turning points...Note
adjusted take profit down to 14.1925 from 14.195Note
adjusted take profit down to 14.19 from 14.1925Trade closed: target reached
Proof:drive.google.com/file/d/1V-z8ylHrMF8avSk0o0Cf7XuEGXTIgsvl/view?usp=sharing
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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.