I’ve been waiting to jump on this Long, as ZAR pairs have the biggest price movements. This means big profit potential. This 15min chart analyzes the current pullback about to take place. As long as we stay inside this BLUE triangle I have drawn, we’ll see GBPZAR fall back to test the original breakout. The area is marked as a high volume zone, as the volume bars show the most shares traded in quite some time.
This setup could take a day or to reach the area & signal confirmations to enter long...I’ll update this trade if it continues to move higher without a pullback. If it does, I’ll be cautious to enter, as huge Weekly resistance is just up ahead at the 21.93000 area. If you entered the trade now, you’ll most likely be good to be in profit by next week or so. Expect dips in profits until then.
This setup could take a day or to reach the area & signal confirmations to enter long...I’ll update this trade if it continues to move higher without a pullback. If it does, I’ll be cautious to enter, as huge Weekly resistance is just up ahead at the 21.93000 area. If you entered the trade now, you’ll most likely be good to be in profit by next week or so. Expect dips in profits until then.