The USDTRY has had wild range of late, and if we look at the monthly chart, the picture suggests we should see 9.1100 GANN support objective. The current market price is above the BB top and usually with such wide difference between BB base and top, the price activity will adjust downwards when trading above the BB top. The middle BB range is 10.11, and we have GANN angle support 13.10 area as well. RSI no doubt extreme still and not corrected enough.
From a long-term perspective we SELL current and higher in very small increments to ensure we don't get blown away. the objective is 9.00-9.50 at least, and stop, well depends to your risk appetite. I would add small increments on way up between 13.50 > 16.50 if seen. It is not likely to re-visit 18.00 for now (but well who is to say :).
From a long-term perspective we SELL current and higher in very small increments to ensure we don't get blown away. the objective is 9.00-9.50 at least, and stop, well depends to your risk appetite. I would add small increments on way up between 13.50 > 16.50 if seen. It is not likely to re-visit 18.00 for now (but well who is to say :).
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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.