Exotic
USDTRY - the pleasure and pain will be mine.USDTRY is a very tricky exotic pair to tackle. The exotics on the whole are erratic and offer may traps and false breakouts. This is a dangerous pair and not recommended for those without experience of exotics.
On this occasion I'm departing from my system of 'rules' because I'm dealing with such a wild 'animal'. I have experience of exotics doing false breakouts against my favoured direction. I'm not saying there is going to be one on this occasion, but I'm prepared for it.
I stand to take loss which is acceptable. Notably most Tradingview posts are about good news in terms of positive expectations (whether long or short); not about losing positions. This is not surprising, is it? There is an unconscious need to present mainly good positions. I'm breaking the mould. I'm not afraid to show that I can lose.
PRESSURED TRY SEARCHING A HOLE TO BREATHEExotic currency to watch for ---> South African rand USDSAR, Mexican Peso USDMXN and Turkish lira USDTRY
TRY is heading the record highs following shaky political situation in Turkey. President of Turkey is expected to put pressure on Central Bank and supply cheap USD to let sinking TRY breathe!
Long term bullish on USDTRY but we might see a retrace from higher levels
Watching the action and getting ready to short!
The TRYJPY Approaching SupportLast post: May 21st. See chart .
Review: Price had broken support and confirmed a bear flag.
Update: Price has continued to weaken. A break and close of Wednesday's support is now needed.
Conclusion: A break and close below support will suggest weakness towards the round number 20.00.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Sublime Trading
Double HedgeEURAUD
To open LONG & SHORT positions for EURAUD , it is required:
In this situation our system indicators to confirm trade entry confirmation for movement to the downside but if the market continues its uptrend we will trade with current trend. Market execution for entry, I will confirm signal once the conditions have been met.
Risk Description: Once signal is confirmed we will execute a grid on H1 to the upside and downside. Minimum 600 pips will be up for grab with small risk S/R levels. Target 1500 pips on each swing
Profit expectations:
260 pips under bullish conditions with 100 pip SL
560 pips under bearish conditions 100 pip SL
Trading method: RSADVANTAGE Stage 5, accurate system manually forward tested over 3 years designed to stay out of ranging markets and only target strong trends suited for swing trading. This system is made of custom adaptive volume indicators and Oscillators that properly detect trends very early and provides exit signals at dynamic S/R zones once the trend has ended. // Average yearly pips gained is 40k per pair on D1 charts alone. I have provided a similar limited version of the system on Trading view to help traders visualize the strategy.
EURHKD RANGING TRADE SETUPTrading method: RSADVANTAGE Stage 5 system setup 95% accurate system manually forward tested over 3 years designed to stay out of ranging markets and only target strong trends. In this situation we are now waiting for Awesome Osci to go into negative territory for trade entry confirmation for movement to the downside. Market execution for entry, confirmation will be required for entry.
Risk Description: Once signal is confirmed 2000pips will be up for grab with small risk SL at swing high.
Profit expectations: 12 day trade length expected before hitting profit target I will post exit strategy when signal receives a exit signal.
U.S Dollar against the Mexican Peso Cup and handle Pattern 1DI am waiting to pierce and confirm first but here maybe a cup and handle pattern.
I am using others Indicators to confirme a long term trend. ( RSI, CCI, 1 SMA and Bollinger Bands, On balance Volume, ADX and watching ATR also )
So if it confirms as I want with chart pattern + some indicators I will go long 2 Units.
TP 1 : Sell one unit
TP 2 : Sell second unit
So if first TP is hit I wil be freerolling for the long term trade.
I will keep updating !! Have a great one !!
USDZAR longUSDZAR is about to makenews highs this and next week!
You can see perfect bounce from demand zone based on H1 timeframe,
Fibo 50% Price Reverzal Zone (PRZ) and supportive trendline.
If USDZAR will break Structure + Resistance + Trendline, we can see big move up in next weeks.
Keeps eye on that.
For the record: USDZAR and USDMXN are only exotic pairs I trade (they make sense and are low-spreaded)
Don't forget to trade with proper RM/MM and caution.
Good luck guys.
Potential Bullish Bat (H4)This is a bullish bat not exactly a perfect one with a ton of confluence but a bat in general. I love bats because of the good risk reward ratio. This is on a exotic pair so trade with caution because the spreads are usually pretty hefty. My entry for this bat will be at 6.63582 which is below the 6.64000 even handle which i dont like but a false break out is possible. With that being said good luck and good trading.