Expecting more TRY weakness against major currencies. GBPTRY is getting more and more "dangerous". Above 7.90 = Significant risk for much more upside move. There is also an elliot count but I hid it to make the chart more readable. The target was shown, however.
FX_IDC:GBPTRY We might have a good entry atm on some Sterling pairs. GBPTRY and GBPSEK is one of them.
Thanks to Fox news we can go short on GBTTRY and gain almost 100% !
Just like GbpAud and GbpJpy, Price break strong resistance and now its consolidating on a flat channel, price might spike down to hunt stop losses and also trap sellers before it follow GbpAud
TP 7.350 IF THEY BREAK UP , THEN WE GET UO, GO OUT.
The pair is comming off a rejection on the Lower High trend line of the 1M Descending Triangle (RSI = 60.943, MACD = 0.510, Highs/Lows = 0.000). Based on the previous Lower High made and the RSI it traded, we are expecting a stronger decline towards the previous low. Our sell Target Zone is 6.87000 - 7.00000. ** If you like our free content follow our profile...
Simple but effective set,here we can see how price created a 3rd touch to the descending TL and also how it lined up with the weekly 61% leavign two weekly and mult iday shadows giving us a possible short opportunity Detailed signal in my telegram channel
GBPTRY Price Actions, Supply Demand Zones
More than this based on TK fundamentals