Watchlist candidate for USDTRY
Updated
Hello world,
here we have a candidate which I have flagged for my watchlist. This is not a trade I am taking, just an interesting chart!
We have:
- a key weekly level reached
- quite some time without a proper retracement
- and highly overvalued RSI
- a bit of price action forming at this key level
- shorter then average previous candles (only) indicating (!) momentum loss
What I am waiting for?
- more confirmation in form of price action at this key level
- theoretically I would TEND to assume that price will see at least a 23% fib retracement
Apparently I do not know enough about the macro-economic situation regarding turkey. If anyone knows and sees this, feel free to comment.
All the best,
c4ss10p314
here we have a candidate which I have flagged for my watchlist. This is not a trade I am taking, just an interesting chart!
We have:
- a key weekly level reached
- quite some time without a proper retracement
- and highly overvalued RSI
- a bit of price action forming at this key level
- shorter then average previous candles (only) indicating (!) momentum loss
What I am waiting for?
- more confirmation in form of price action at this key level
- theoretically I would TEND to assume that price will see at least a 23% fib retracement
Apparently I do not know enough about the macro-economic situation regarding turkey. If anyone knows and sees this, feel free to comment.
All the best,
c4ss10p314
Trade active
still building up price action on upper weekly line. Set up remains in tact.Trade active
Same as last update, still price action building up.
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