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Usdtryshort

USDTRY 6.94765 - 0.25 % LONG IDEA * PRICE ACTION AND STRUCTUREHELLO EVERYONE Hope everyone is having a good one as we head to the next week in the charts, Here's a look at the DOLLAR / TURKISH LIRA FROM A 4H perspective * The pair has been on a down trend in a descending channel structure that has been respected. * Currently range bound in a symmetrical triangle structure which could breakout in either direction so price action will come into play * Good opportunity for intra-day traders to trade the roof and base of the structure * follow your entry rules on entries * significant moves with the bulls change the plan. lets see how it goes. AS ALWAYS PROPER RISK MANAGEMENT AND A LOT OF PATIENCE & AGAIN many stars must align with the plan before executing the trade, kindly follow your rules. HAPPY TRADING EVERYONE & LET YOUR WINS RUN... _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Short
by PULEMokhothu
2
ridethepig | TRY for the Yearly Close📌 Turkish Lira for the Yearly Close The strong points of the rally which we went into more detail was an absolute momentum move; the flow was a force to be reckoned with and undermined all sides of the Turkish banking system, collapsing like a house of cards. After 2019 the helplessness of Turkey's Erdogan was quite something. My dear readers, populists and dictators are absolutely incapable of standing aside, and this one is not of any particularly inclined intelligence either. Markets are going to do this for us and leave him aside after we clear covid flows. I personally think a lot of profit taking will be done here in USDTRY, after such a monster move it is favourable for a retest of 6.00 and Turkey can begin to look attractive for the coming years. There is no such hurry with this move, firstly next week is a panic cycle, followed by 11th Jan which should attract a lot of opportunities to load. Make use of the retracement and profit taking as a basis for our operations, we are miles ahead of the crowd as usual with 6.0 in the crosshairs I am starting to build an allocation as TRY looks cheap to me up here. Thanks as usual for keeping the feedback coming 👍 or 👎
Short
by ridethepig
2
USDTRY 7.85355 - 0.35 % SHORT IDEA * PRICE ACTIONHey everyone Here's a look at the DOLLAR / TURKISH LIRA from the 4h perspective hope you guys are having a good one. The pair has been range bound in a ascending triangle and if we follow the 123 rule we are close to start seeing some rise in momentum on the pair more volatility coming into play not the trigger zone where we'll monitor price is at the 38.2 % Fibonacci retracement level as it saw those previous 1 & 2 touches from there i will be looking for continuation with the bears swing on the pair. should the trade trigger monitor price and place this one in your watch list... many stars must align with the plan before executing the trade, kindly follow your rules. LET'S SEE HOW IT GOES.. HAPPY TRADING EVERYONE & LET YOUR WINS RUN... _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES here's some of my rules if they help. 1. look at structure be it descending channels, pennants and so forth. 2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation. 3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term. 4. aggressive trades can be executed on the pull back 5. price action must definitely align with the plan.' 6. structure definitely 7. the 20 EMA must be respected as support / see a bounce at this structure 8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S . 9. CANDLE STICK PATTERNS. so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan. RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Short
by PULEMokhothu
2