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!
Disclaimer: Not financial advice, trade your own plan.
Green trades!
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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.
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Price is moving nicely. Anticipate that this pair will reach entry territory within the next 24hrs...
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Nice bullish impulse to break the wedge. If you're not in the trade yet, wait for a trend continuation pattern and go long.