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, 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.
dlau
⋅
your strategy makes no sense, thanks. lost the trade
HutsonBay
⋅
@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 ...
HutsonBay
⋅
Good short opportunity and broken below the neckline