It starts becoming a habit, but good habits always remain. I feel strongly about remaining in SELL mode, even though it looks like a run away truck.
the facts are, RSI 94.50 for Daily and nearly 88.0 for the weekly chart. An extremely high ADX and Donchian way out of line.
The objective is 10.35 > 9.4200 and it will get there after the fear is subsided. from fundamental point of view, the interest rate GAP is large and selling TRY is costly. The mechanism will correct itself and market will normalize. The value of TRY is too weak, and does not represent the true value as it is now.
the facts are, RSI 94.50 for Daily and nearly 88.0 for the weekly chart. An extremely high ADX and Donchian way out of line.
The objective is 10.35 > 9.4200 and it will get there after the fear is subsided. from fundamental point of view, the interest rate GAP is large and selling TRY is costly. The mechanism will correct itself and market will normalize. The value of TRY is too weak, and does not represent the true value as it is now.
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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.