DatTong
Short

USDTRY, Continuous downtrend!

FX:USDTRY   U.S. Dollar / Turkish Lira
H4:
- Structure: Downtrend
- Test resistance and given bearish candle
=> Sell
Trade active
Comment: another chance to short sell, add more positions
Comment:
You can take partial profit and let the rest run to target

Comments

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 :)
Reply
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
Reply
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
Reply
Home Stock Screener Forex Screener Crypto Screener Economic Calendar How It Works Chart Features Pricing Refer a friend House Rules Help Center Website & Broker Solutions Widgets Charting Solutions Lightweight Charting Library Blog & News Twitter
Profile Profile Settings Account and Billing Referred friends Coins My Support Tickets Help Center Ideas Published Followers Following Private Messages Chat Sign Out