USDZAR - trend continuation signals bullish bias

Following the firing of finance minister Gordhan, this pair took a leg up and broke out of the bearish channel. We see a strong impulsive move followed by consolidation. I have been waiting for a good entry and it looks like we'll get it in the next week. I am anticipating large gains from this trade. Wait for the indicators to move in your favor and enter in the reversal zone.

Disclaimer: Not financial advice, trade your own plan.

Green trades!

Kommentera:

As clarified in the comments below, wait for a re-test of the reversal zone (bottom of wedge) before entering for high probability trade with minimal risk.

Kommentera:

Price is moving nicely. Anticipate that this pair will reach entry territory within the next 24hrs...

Kommentera:

Nice bullish impulse to break the wedge. If you're not in the trade yet, wait for a trend continuation pattern and go long.