USDZAR - reiterate my previous idea of rand strength
Typical M-Top pattern is busy unfolding - see the M-pattern on the chart.
From my previous comment: August 23, 2019
Almost difficult to agree, but sometimes one must believe what the charts are telling. Market psychology!
The red line is the upper two standard deviations range, highlighting an overextended price action to the upside. One can expect rand strength.
Upper two standard deviation is also giving a lead to mean reversion.
Downside momentum starting to unfold. See the MACD histogram.
Time to exit: +/- 9 September 2019
From my previous comment: August 23, 2019
Almost difficult to agree, but sometimes one must believe what the charts are telling. Market psychology!
The red line is the upper two standard deviations range, highlighting an overextended price action to the upside. One can expect rand strength.
Upper two standard deviation is also giving a lead to mean reversion.
Downside momentum starting to unfold. See the MACD histogram.
Time to exit: +/- 9 September 2019
Trade closed: target reached