FX:USDTRY   U.S. Dollar / Turkish Lira
Buyers have made the transition towards capitulation. This leaves Turkey with a huge problem, and the process of the cleanse in local banks will continue. CBRT will defend with its 'customary inventiveness' very soon as they keep a stern eye on 7.8xx.


It is an unfortunate position that Turkey are in. We have exploited it for some time and as soon as the banking collapse makes it way onto Bloomberg and etc it's time to start looking at closing out. Well done all those who sent their troops to the buy side, a massive +30% swing so far and counting.


After the break through 6.78 it has continued to grind its way to the wearisome target. This is the real point in the manoeuvre, which forces us to stay alert and protect profits as we approach the final targets in the unstoppable macro advance. A superb live example.

Thanks as usual for keeping the feedback coming ๐Ÿ‘ or ๐Ÿ‘Ž
๐Ÿ“Twitter: https://twitter.com/ridepigs

๐Ÿ“Telegram: https://t.me/ridethepig

Comments

This was really nice one.
+1 Reply
ridethepig rludvik
Indeed @rludvik, a home run trade!
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Has the banking crisis started?
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Update!
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ridethepig MohegaN
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MohegaN ridethepig
@ridethepig, Can You Update?
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ridethepig MohegaN
Well @MohegaN, there isn't much to add until we take 7.8xx which looks unavoidable now. Watch out for the bloomberg headlines as it will trigger the dominos we are tracking in the Turkish banking system.
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ridethepig MohegaN
Starting to take some partial profits as we enter into the 7.82xx @MohegaN,
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