USDTRY, Continuous downtrend!

FX:USDTRY   U.S. Dollar / Turkish Lira
- Structure: Downtrend
- Test resistance and given bearish candle
=> Sell
Trade active
Comment: another chance to short sell, add more positions
You can take partial profit and let the rest run to target


I don't agree. The only big seller of USDTRY futures is Turkish Central Bank.They try to cover private sector spending goverment reserves till elections on March. Turkish central bank reserves are as low as 14 bn USD.
Short term debt service is 70 bn USD. They can't continue to sell on future market then it skyrockets since no one left selling it.
+3 Reply
DatTong burakpadir
@burakpadir, thanks for your sharing. From technical perspective, I will short sell until it goes higher from here. The risk/reward of the trade is good enough for taking the trade while it's very easy to discover if the trade is invalid and structure of downtrend is changed or not.
+2 Reply
DatTong burakpadir
@burakpadir, In this case I don't know anyone who is selling this. maybe me :)
burakpadir DatTong
@DatTong, i was about to send you a message that you guessed it right. i was wrong. Congratz..
+1 Reply
Good call, this is what is expected from USDTRY. Strong downtrend calls for a continuous one
+1 Reply
DatTong mirditapaul828
I like the Ideas for the upcomming week, thanks for your hard work and good luck with that speech, cant be there unfortunately.
+1 Reply
DatTong Chris_Silver
@Chris_Silver, thanks bro, cheers!
+1 Reply
any update please thank you
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