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EM FX: Chasing the break in USD/ZAR
Biggest mistake I made last year was chasing the USD/ZAR breakout above 19.00. The momentum was strong, charts looked convincing for a run to 19.50+, but I jumped in too early without confirmation on higher timeframes. Should've waited for a clean retest or at least a daily close above the level. Ended up getting whipsawed as it quickly reversed, costing me a good chunk of capital. Patience is key, especially with EM FX volatility.
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