meszaros

USDTRY is down 3.83%...

Short
OANDA:USDTRY   U.S. Dollar / Turkish Lira
I expect more Turkish lira to strengthen. The exchange rate may create a sideways band, the upper level of which may be provided by the MA (200) axis. I expect a turn from this level to the south and reach the correction level. The target price for this is $ 5.3548

Comments

Hi!
I just wondering to ask you if you can help me. I shorting USDTRY from 5.5511 and wondering if is still any chance after today run to come back? I still believe yes, but you are definitely better then me.
thank you in advance for answer
Reply
meszaros klemen972
@klemen972,
Thanks for asking. In my opinion, above the 5.70206 level, the short strategy is definitely over. As I was short before, I can't even fit in the red rectangle. If you have manageable losses in this area, you should wait. I am also moving the exchange rate further south. My target current is 5.3938.
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klemen972 meszaros
@meszaros, thank you for responce. my SL is at 5.8432 do you think will touch? or should extend to be safe?
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meszaros klemen972
@klemen972, Calculating the size of the correction wave from the ATRs, we get 2180 points. This means that such a corrective wave is expected. However, the correction can start from two places, so it can be of two different sizes. In both versions, the stop ordered is in the right place.
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klemen972 meszaros
@meszaros, This is great, worth hold just for positive fees.
thankyou
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meszaros klemen972
@klemen972, Good luck.✌
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