USDZAR - Short after R/S zone retest

Price moved below my support (now resistance) zone. I opened a short trade after a retest & hold.

Short @ 12.1742; current SL @ 12.3430

My current position is modest. I wanted to be more conservative since we are going into the weekend.

1M:

1W:

Last two completed bars failed at pushing higher. It is oversold. Bears could get rejected as well, however the current candle is almost complete.

4H:

pinbar formed support. Retested R/S zone, which gave me an opportunity to enter short trade. I would like to see price move below 12.065.

تم فتح الصفقة:

I added to position (larger lot size than initial) @ 12.19432

I took profits on the original position and about 1/2 of the new short entry.

Currently, I'm still short @ 12.19432. I also have sell limit orders in place to add to my position if price pulls back.

تم فتح الصفقة:

Price never pulled back to execute any of my Sell Limited Orders. Initial position still open with substantial gains. No firm TP set at this time.

تم فتح الصفقة:

Key level's I'll be looking at.

أغلقت الصفقة: تم الوصول للهدف:

Took profits at 11.86525

Very nice trade. Possibly will reenter if pull back occurs.