USDZAR, broke out of the Daily descending trend, and created short term Higher Highs. which validated a buy setup, now we wait for the next 2 parts of the trend to confirm that momentum has shifted.
Once confirmed that momentum has been shifted. we can take another buy, by breaking out of the profit taking which we are in no, utilizing the same method as before; buying on the impulse until the next resistance.
If the continuation pattern doesn't form, we can take sells below Weekly support, which be a trade very long term to hold.
Once confirmed that momentum has been shifted. we can take another buy, by breaking out of the profit taking which we are in no, utilizing the same method as before; buying on the impulse until the next resistance.
If the continuation pattern doesn't form, we can take sells below Weekly support, which be a trade very long term to hold.
Trade closed: target reached:
target reached, continuation pattern has not formed, trade went to the downside as expected