USDZAR Long trading opportunity(swing-trading) 1

I expect a swing of about 60-80c all the way up to R15 per dollar, I have personally opened a long position with the size of R425000 (30000USD), expecting the ZAR to weaken in the short term within a week to a few weeks (less than a month) to 14.95+-.

Stop Loss is around 13.95, take profit is 14.95, the entry price is 14.16

USA inflation data indicating that it is likely a peak has been reached, it is likely to go lower from here on...

Next week FED will discuss the US interest rates...

Coronavirus full-vaccinations in the US are almost at 70%...

US stock market (S&P 500) is struggling to go higher...

I have a feeling...

Trade active

Proof:

drive.google.com/file/d/1TkZtLzbsMT2dHUTUrtwBYnPBQtptcpZl/view?usp=sharing

Note

adjusted stop loss to 14.17

Note

closed position at 14.33, bought in again with same amount (30k USD) at 14.28 again.

Trade still active

Note

adjusted stop loss to 14.20

Note

adjusted take profit to 14.92

Note

closed position at 14.43875,

bought in again with same amount (30k USD) at 14.405

Note

adjusted take profit to 14.80

Note

adjusted stop loss to 14.25

Note

closed position at 14.535

going to try and get in again between 14.40-14.50

Trade closed manually

only got a 40-45c profit, not the full haul I wanted to, not used to these long positions in the FOREX market...

but I still think we are going to see R15 for US dollar.

proof:
drive.google.com/file/d/1GmsuYaoKx7CHjvzBB2-VCnNgh3hrmVrL/view?usp=sharing

ricomister

Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.

ricomister