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U.S. Dollar / Turkish Lira

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USDTRY trade ideas

USDTRY LONG TRADE Price broke through resistance and now came back down for the retest and is now rejecting this new support level. I went down to the lower the time frames and on the 12 hour chart I saw my favorite candlestick pattern form on support and that is the inverted hammer and being that it is bullish gives me more confidence that this pair is on it's way up. I did get into this pair later than I wanted but I am still going long and because I got in later than I wanted I am using a smaller lot size and also because the weekend is approaching and the spread for this pair does get high. Overall, I like the rejection off of the current level and there is bullish activity.
Long
by jvaledon
USDTRY Here is our new trading planWe managed to capture the bull run originating from 7.00 level to 7.80 level with our last USDTRY analysis published at march 1st. Recent price action suggests that price may stay sideways between 7.80 level and 7.50 level for some time. Range plays in this zone should be considered the wise thing to do. Like and comment if you find value in our analysis. Feel free to post your ideas and questions at the comments section. Good luck NOTES: - All trades are executed with a valid signal of our own. As a trader you should develop and test your own entry protocol. - We never trade just because the price reaches the trading zone. This also means that not every idea is a valid trade. - Our analysis are trading ideas not trading signals for you. Therefore questions about the status of the trade, stop loss, take profit levels won't help your progress to be a better trader. - Instead of trying to take this trade and win small profits, focus on the analysis and how to create your own trading style. Best Regards.
by FXTurkey
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