USDTRY May stay sideways for some time

Turkish Central Bank declared that they will try their best to control the value of TRY. Analyzing the level that TCB will be proactive is critical,

We think that they won't let the price stay over 8 level and it is clear that buyers are sitting at 7.50 level. So trading the range is the wise thing to do.

Like and comment if you find value in our analysis.

Feel free to post your ideas and questions at the comments section.

Good luck


NOTES:

- All trades are executed with a valid signal of our own. As a trader you should develop and test your own entry protocol.
- We never trade just because the price reaches the trading zone. This also means that not every idea is a valid trade.
- Our analysis are trading ideas not trading signals for you. Therefore questions about the status of the trade, stop loss, take profit levels won't help your progress to be a better trader.
- Instead of trying to take this trade and win small profits, focus on the analysis and how to create your own trading style.

Best Regards.

Trade closed: target reached:

We witnessed a drop of 2300 pips from the zone we have determined as the resistance

Comment:

Another bearish move of 2000 pips, originating from the same resistance we analyzed.

Comment:

3rd bearish move of 4000 pips originating from the resistance