TURKISH LIRA Forecast: Great short trade! Short

FX:USDTRY240

U.S. Dollar/Turkish New LiraFXCM

Description

⋅ Apr 17, 2019 7:45 AM

Market sentiment:

Bullish trend
Market is approaching significant resistance
Weakening bullish momentum
RSI overbought + divergence
Head and shoulders pattern formation

Wait and sell breakout of the neckline.
Targets are based on structure!

Please, check my signature!

Comment

⋅ Apr 17, 2019 11:56 AM

the market still didnt break a neckline, so the order is not active!

Comment

⋅ Apr 17, 2019 1:36 PM

breakout

Comment

⋅ Apr 18, 2019 5:01 AM

Market respects the support

Order cancelled

⋅ Apr 18, 2019 12:13 PM

Comments

CryptoEngineering

⋅ Apr 24, 2019 6:24 PM

burakpadir

⋅ Apr 18, 2019 11:59 AM

patterns on exotic pairs can be misleading.

VasilyTrader

⋅ Apr 18, 2019 12:13 PM

@burakpadir, why was it misleading??? there was no breakout, so no signal to sell. If you know how to read patterns they work on each and every market.

burakpadir

⋅ Apr 18, 2019 12:21 PM

@VasilyPonomarev, it broke out yesterday then you wrote sell the breakdown, not wait for retest to neckline. anyway i was longing it on ma200. i'm glad that you didn't take that trade.