USDZAR Long Possibility

Long

U.S. Dollar / Süd Afrikanischer Rand (FX_IDC:USDZAR)

Aktualisiert

FX_IDC:USDZAR U.S. Dollar / Süd Afrikanischer Rand

fibonacci trendline mtfa usdzar usdzarlong rand southafrica

This idea is for demonstration and educational purposes only. I suggest If your account can handle the risk for this idea, it would be a great set up. Possible 700 plus pip reward.For demonstration, I placed my stop loss above the key of support as noted. I do not recommend this, but if you wanted to stand a little bit more risk you could allow more room for your stop loss closer the level of support below. THIS IS RISKY which I don't recommend. Always follow your rules for proper risk management. The trade could very well not play out, so always follow your rules including your stop loss. I used various confluences to come up with this idea. But it is very important to note that the market is always subject to volatility and change, especially with the instability of the rand. I trade this pair quite a bit, so check out my previous analyses on why I have come to this idea. I am linking an idea I had below from April 2019 where a bull run was suggested. If you take this idea; trade at your own risk and use proper risk management.

Trade ist aktiv:

Very nice bullish impulse. If you did not enter in time wait for the pullback. If all goes well according to the analysis we can ride this while protecting profits along the way.

Kommentar:

As you may know the live market is dynamic. Since this morning we have seen a shift in strong areas of resistance/support in the market. To get the most reward I have closed a few of my positions and left a couple open with a nice stop loss should price pull back a bit more before the 61.8% fib level on the last swing low to swing high using the fib, around 14.5. Keep in mind I got an early entry so you may need to close out with profits sooner. Be sure to protect your profits!

Kommentar:

Well the bulls have taken off..The pullbacks can sometimes be wicked. If you are still in this trade protect your profits. My suggestion is to enter after the next pullback if you have not already.

Trade wurde manuell geschlossen:

Took profits for now to maximize profits. Will study for next move.

Trade geschlossen: Ziel wurde erreicht:

If you were in this trade take profits