OANDA:USDZAR   U.S. Dollar / Süd Afrikanischer Rand
100 6
Price has found clear support
Bullish engulfing candle
Take profit at supply zone
Wait for the budget speech to be delivered by Gigaba. That will not be a good story to tell and the chickens will come to roost. ZAR will shoot to over 12, my 5 cents
HutsonBay timgrobler
@timgrobler, Thanks Tim, sadly my SA politics knowledge is pretty poor. Overall the trade was poorly entered without factoring in the uncertainty. I do enjoy trading ZAR pairs so will be watching closely.
your strategy makes no sense, thanks. lost the trade
@dlau, Check out the politics in South Africa - Zuma being forced out has driven the ZAR stronger - Analysis was good, as per the previous bullish waves. External factors like politics will always come back to bite your positions. What other pairs are you looking at? This is a good short trade now, based on the technical break beneath the trend line ...
Good short opportunity and broken below the neckline
Trade stopped = Political Chop giving way
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