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U.S. Dollar / Turkish Lira

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USDTRY trade ideas

USDTRY - LONG TERM SELLbesides the medium-term SELL weekly RSI 93.0 and the Daily RSI 80.0 the MONTHLY RSI is almost 89.0. We are about 1.50 pis above the BB top and viewing history, the correction was severe downward. Further, we have HAMMER TOP on monthly chart, a signal that suggests we may turn the tide. I remain having the view SELL is the way to go, and regardless we may see some spikes, this is opportunity to add small increments to our existing shorts. the monthly chart objective is likely to be 9.0000. For the weekly chart its 10.3700 currently.
Short
by peterbokma
2
Usd/Try Update (Still active)This pair us a really tricky one to trade and most people do not like to trade it. The spread is very high! Just a 0.05 trade can put you in the negative 30 to 50 dollars depending on your broker. My suggestion is if u want to trade it , u could trade it at 0.01 and still make $200 easily. My lot size is actually smaller than that. I have 3 positions of 500 units which is half the size of 0.01. So my lot size is 0.015 Thus pair has formed a weird looking double top pattern on the 4 hour time frame. I see this as a reversal and I'm holding with 3 take profit levels
Short
by WaveTrends