USDZAR Long trading opportunity(short-term) 9
expect ZAR to weaken against the dollar about 10-15c, I am aiming to personally open a long position with the size of (30000USD), speculating that the ZAR to weaken in the short term within a day or two to 15.18+-.
Stop Loss is around 15.01+-, take profit is 15.16-15.20 , the entry price is 15.08+-
I hope ESKOM load shedding could help weaken the ZAR in the short term
Stop Loss is around 15.01+-, take profit is 15.16-15.20 , the entry price is 15.08+-
I hope ESKOM load shedding could help weaken the ZAR in the short term
Comment:
still in the trade, putting my final stop loss to around 15.01/14.94.
I am still convinced around here is the turnaround point, it can't keep zig-zagging above R15 per $ to below R14 per $, the market has to take direction soon, and the chances are high that these zig-zag movements, are about to end for this price-range, I feel pretty confident that the price will turn around R15, and that from here on the ZAR will weaken further against the dollar, and we could see 16 soon or at least that the price range will move upward between 15 and 16 rather than 14.**-15.50
I am still convinced around here is the turnaround point, it can't keep zig-zagging above R15 per $ to below R14 per $, the market has to take direction soon, and the chances are high that these zig-zag movements, are about to end for this price-range, I feel pretty confident that the price will turn around R15, and that from here on the ZAR will weaken further against the dollar, and we could see 16 soon or at least that the price range will move upward between 15 and 16 rather than 14.**-15.50
Trade closed: stop reached:
Decided to close at a loss of ZAR 1800+-
Upped position with $20000 at 15.095+-, total position size is now $50000.