USD/ZAR Long Idea - Possible Teacup

Please refer to the linked idea below, which has so far played out well. We now see in addition to this linked trade, a possible teacup. We see price retraced to the 50% key fib level before making an impulsive move to the upside. I am watching for breakout from the handle before considering a buy position to the next key level as noted. Fundamentally, Moody's is set to release it's credit rating of South Africa this Friday, 4/29/19. If the credit rating is downgraded we could see further deterioration of the rand. This idea is for educational and demonstration purposes. Trade at your own risk. Please also refer to the linked trade idea below.

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Trade stängt manuellt:

Took profits. I see a possible reversal at a key level in the market.