What's up traders, I am just quickly posting this chart for you all whilst it is on my radar.
Here we have GBP/TRY on the 1H chart. Price restently broke a long term side-wards support level, and retested it as a new sideways resistance. Once price confirmed the line as resistance, broke also broke a flag channel support simultaneously, leading to a breakdown move.
Since this trade is already moving, I am advising traders to look for a retest to look for a short opportunity.
Updates for this idea will be posted below. Leave a like & follow so you don't miss any of our content.
Here we have GBP/TRY on the 1H chart. Price restently broke a long term side-wards support level, and retested it as a new sideways resistance. Once price confirmed the line as resistance, broke also broke a flag channel support simultaneously, leading to a breakdown move.
Since this trade is already moving, I am advising traders to look for a retest to look for a short opportunity.
Updates for this idea will be posted below. Leave a like & follow so you don't miss any of our content.
Trade active
GBP/TRY has had a nice move since the above analysis was posted.Here we have the GBP/TRY chart on the 1H chart.
After price broke down, there was a correction to the upside. When price stalled, this was the ideal time to be selling the pair.
Since the sell signal, price has had a nice move to the downside and successfully made new lows.
I am now expecting price to continue its journey to the downside, down to our original target level of 5.1230.
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Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.