I think at some point in the future the Lira may set up the Mother of all carry trades (Positive swap + correct direction) - but we're down so super hard in the XTRY pairs I think this is a great buying spot. For at the very least a mean reversion move. If we can break over the 76 retracement we might see an epic blitz up move in the XTRY pairs - before, finally, seeing the end of the Lira crash and a great contrarian trade.
A Lira bull will surely come at some point (That's surely my opinion, not a certainty). But it might want to slice and dice the market a bit more before it does.
The trade I am positioning for here is best likened to the move out of the March 2020 low in the SPX. Where the profit lock in level is would be where a bull trap would usually form and reverse. See linked MRNA analysis for an example of me forecasting this type of blow off move but it failing to fully mature.
A Lira bull will surely come at some point (That's surely my opinion, not a certainty). But it might want to slice and dice the market a bit more before it does.
The trade I am positioning for here is best likened to the move out of the March 2020 low in the SPX. Where the profit lock in level is would be where a bull trap would usually form and reverse. See linked MRNA analysis for an example of me forecasting this type of blow off move but it failing to fully mature.
