USDZAR has been following the correction dtructure very well since the week began. As usual the correction structure consists of an ABC wave count of which
the C wave subwaves are always 5 waves. This represents a final bullish or bearish impulse in the opposite direction before the overall trend momentum takes
over and continues its course. I am currently awaiting the completion of the 5th wave in the C wave subwaves which falls confluent with the 38.2% fib level as
well as the base channel top trendline. This should be a clean, precise and safe entry once the wave is complete. Looking forward to the outcome of this setup.
Let me know below what you think USDZAR's future looks like, thank you.
Do stay tuned as I'll be posting updates on its progression over time.
TARGETS:
-14.5500
-14.7000
the C wave subwaves are always 5 waves. This represents a final bullish or bearish impulse in the opposite direction before the overall trend momentum takes
over and continues its course. I am currently awaiting the completion of the 5th wave in the C wave subwaves which falls confluent with the 38.2% fib level as
well as the base channel top trendline. This should be a clean, precise and safe entry once the wave is complete. Looking forward to the outcome of this setup.
Let me know below what you think USDZAR's future looks like, thank you.
Do stay tuned as I'll be posting updates on its progression over time.
TARGETS:
-14.5500
-14.7000
Trade active:
Entry bubble hit
Entry bubble hit
Comment:
Stop Loss moved to break even on first entry, Second entry confirmation bias provided by the bullish flag structure in formation.
Stop Loss moved to break even on first entry, Second entry confirmation bias provided by the bullish flag structure in formation.
Trade active:
Secondary entry level live
Secondary entry level live
Trade closed manually:
Target level missed by a few pips. Stop loss closed in profit
Target level missed by a few pips. Stop loss closed in profit
Lovely entry