Large Correction For More Upside

USDZAR is currently forming a larger correction that I initially anticipated. This means that the correction that I had looked at before as being a 3 wave correction, was actually only wave 1 of the larger correction. Looking at the current setup, I expect price to break the low of wave one, market with the red line, before there is a reversal to the upside. I will be looking to enter the long when a reversal confirms but may look for smaller trades to the downside in the interim as well.

Happy trading!
Linton White
JP Markets
South Africa