USD/ZAR Daily Candlesticks & Ichimoku Chart –   SHORT 

30 Aug: New Trade: Sell USD/ZAR at 15.235, with S/L at 15.54, and T/P at 14.54. Resistance building at 15.45-50 level getting stronger as time passes. Taking another stab at earning the carry and anticipating a weak close for the week will result in a bearish weekly candle.

13 Sep: Trade Update: USD/ZAR has sold off steadily since initiation of trade. With the trend looking strong, and level being close to target at 14.54, we are taking half profits at 14.5860. The remainder 50% of the position will now have the S/L moved to 14.94, and a new T/P at 14.03.

More weakness will lead to a close below the daily ichimoku cloud and we will be looking to sell into rallies should that happen.

 

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