I know, and some remarks given in the last week and today, technical views seems not to be warranted.
I fully appreciate that when being short USDTRY with spikes and overdone situation with pain is not fun.
However, it is not the first time observing such situations, and I sadly remain SHORT and add on price increases, but in small increments no doubt to ensure we have the right average on hand.
The WEEKLY RSI 93.8 and daily again above 81.0. From my past experience, such levels are unheard of and will attract large corrections. Those that are long for the day trade, its great but still it is extremely dangerous.
One comment was, I do not know the political situation. Well its true I do not live in Turkey, but we all can read and see the news. The market movements are used to buy USDTRY because of that. However, please be very careful as the turn around will come unexpected.
Strategy unchanged and just be patient for 10.05> 10.3500 medium-term.
If this chart is not wished for, just ignore :) In the meantime trade small on this currency pair (needless to say) best regards to you all.
I fully appreciate that when being short USDTRY with spikes and overdone situation with pain is not fun.
However, it is not the first time observing such situations, and I sadly remain SHORT and add on price increases, but in small increments no doubt to ensure we have the right average on hand.
The WEEKLY RSI 93.8 and daily again above 81.0. From my past experience, such levels are unheard of and will attract large corrections. Those that are long for the day trade, its great but still it is extremely dangerous.
One comment was, I do not know the political situation. Well its true I do not live in Turkey, but we all can read and see the news. The market movements are used to buy USDTRY because of that. However, please be very careful as the turn around will come unexpected.
Strategy unchanged and just be patient for 10.05> 10.3500 medium-term.
If this chart is not wished for, just ignore :) In the meantime trade small on this currency pair (needless to say) best regards to you all.
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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.