tekksterr

Short Opportunity on H4 for USDTRY (High Probability Trading)

Short
OANDA:USDTRY   U.S. Dollar / Turkish Lira
Bearish Trend on Daily TF -> confluence on H4 (both TF breaking bear fractals)

Price below cloud -> Price Bounce off Kijun on the downside -> Price broke long time support on H4 in the lower Donichian Channel -> bearish presure stronger

Targets at .927/1/1.221/1.611 Levels

SL should be above Kjun - around 5.36680 Level (setup SL according to your risk management - only risk the amount you can afford to lose)

PS: Look out for Price action in the form of tweezer bottom at the donchian support and trail SL accordingly to minimize losses

Goodluck!
Disclaimer

The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.