USDTRY - Get Ready For A Bullish Breakout
USDTRY counted red 9 according to Tom Demark count. After red 9 we expect a trend reversal. Weekly Stoch RSI is at historically low levels. Bollinger Bands are very narrow at the daily chart. I expect a bullish breakout within this month. Major resistance areas are: 5.33 (daily MA20), 5.43 (fib 0.5) and 5.72 (weekly MA20). Major support is at: 5.05 (fib 0.618)
Here is my long term trading idea:
Long at: 5.20-5.22
Take profit levels: 5.30 - 5.41 - 5.70
Stop loss: 5.00
Here is my long term trading idea:
Long at: 5.20-5.22
Take profit levels: 5.30 - 5.41 - 5.70
Stop loss: 5.00
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