Buy cad/zar on the break out .......political risk rules .
Zar under pressure on political risk and in IMHO the zar should be materially lower on fundamentals and I still cannot believe SA has not been downgraded. I like it ag the cad as the cad is gradually appreciating.
Entered the trade at 10.8000, stop is at 10.7800 and looking for 11.1000 initially where I will sell out half my long , then intend to run the balance with a trailing stop , raising it as each level is cleared, those being 11.2300 then 11.9800. Once / if 11.1000 is reached the stop will be moved from 10.7800 to 11.0000 to be protective.
Entered the trade at 10.8000, stop is at 10.7800 and looking for 11.1000 initially where I will sell out half my long , then intend to run the balance with a trailing stop , raising it as each level is cleared, those being 11.2300 then 11.9800. Once / if 11.1000 is reached the stop will be moved from 10.7800 to 11.0000 to be protective.
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Stopped at flat.....................SA news the driver, prosecutor said he will re-consider finance minister prosecution. Its in the price now. Sq and will look again
I still think the zar will materially fall.