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TomProTrader
Oct 19, 2016 7:12 PM

#USDTRY: Bears Strong, Downside To Lows Of Range! #Forex Short

U.S. Dollar/Turkish New LiraFXCM

Description

Traders,

Fantastic short opportunity at previous resistance level. Strong bearish candle engulfing previous days range showing a clear negation of the upside rally. The marabozu engulfed multiple day ranges at the resistance, before that was multiple indecision Doji candlesticks. Expecting at minimum a move to sideways support/ long term neckline, if price breaks that level, this could mean there is a new bearish impulse leg into the lows.

I hope you have a tested trading strategy to trade this move when it starts
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