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InvestingScope
Dec 14, 2018 7:29 PM

GBPTRY: Triangle sequence showing sell towards 6.5100. Short

BRITISH POUND / TURKISH LIRAICE

Description

The pair has been trading on a strong 1W downtrend (Highs/Lows = -0.4121, B/BP = -0.5351) that recently appears to be slowing down. This may be an indication of a support on the 1W level (6.2070 - 6.5610). However a sequence of repetitive Triangle patterns illustrates that at least a -3.54% decline is expected to follow the completion of the most recent Triangle. This puts our short TP at 6.5100.




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Comments and likes are greatly appreciated.
Comments
toricuraj
That example looks good much appreciated
InvestingScope
@NazCurraj, Thank you. Let's see if it can break even lower.
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