- 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
Note
$/ZAR at 13.88 (hellz bellz). The existing trade can break even on reversalFor those looking for shorts; i noticed this 5 wave after posting this setup
Note
$/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.
Trade closed manually
Setup breaks even on reversal at 13.27Looking forward potential for 13.00 remains. Expecting 13.60 while 13.20 holds.
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.
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.