If anyone is looking for something high risk and medium term. USD/TY looks to be forming a cup and handle. A break above the 6.7 area should push it much higher. You can enter now with a tight stop in case it retests the 6.1 level or wait for a potential break depending on the level of risk you want to take.
fundamentally, there is a lot that is on this side of the trade. Not only is their turkish weakness that should continue but also dollar strength.
Happy Trading,
Sherem
fundamentally, there is a lot that is on this side of the trade. Not only is their turkish weakness that should continue but also dollar strength.
Happy Trading,
Sherem
Comment:
Never ratified the break to the upside for an entry. Looks like we'll test lower first and create a massive continuation triangle. Surprising with the dollar rallying. But that's why we wait for a confirmation break to enter.