Sublime_Trading

USDTRY Gains Another 1,390 Pips!

Long
FX:USDTRY   U.S. Dollar / Turkish Lira
The Turkish Lira continues to weaken which we can see in this chart where the US Dollar is displaying
dominance over the Lira.

Since the last post, price has risen by 1,390 pips which is 1.8%. Based on the weekly timeframe ,
price has not yet formed a clean pullback so we may be due one. But if the trend is strong,
then we may not see a pullback for some time.

The consolidation resistance was formed around the 7.000 round number, so the next round number
at 8.000 may create some difficulty for price to make it past.

When the USDTRY is in a trend, it does tend to pick up speed so we shouldn’t be surprised if we
experience a surge in price. This happened back in 2018 when price was in an uptrend then we saw
a move of 26% in the month of August 2018 alone.

We can’t guarantee what will happen next so we just have to continue on as normal and look to
maximise profits as much as we can, so long as this trend continues to run.

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Comments

What broker you recomend for this pair?
+1 Reply
s41t igoroliveirafx
@igoroliveirafx, none. you can get liquidity squeezed, swap spiked if trading on fx. its strong uptrend to 9.35 target, yet can be difficult to profit
Reply
@s41t, we have replied with a more appropriate response.
Reply
Sublime_Trading igoroliveirafx
@igoroliveirafx, we only recommend brokers to our community members. The USDTRY is an exotic and so it will be expensive to invest in. You will need a large account size, often figures, to make it cost-effective.
+1 Reply
absolutely not agree !

I claim my analysis %99 success for usdtry !
Reply
@emrelg, counter trend trading is a classic way of losing large sums of money and blowing accounts. The very foundation of good trading/investing is that the trend is your friend until the bend as the end. The USDTRY has been bullish for a number of years. All the best with your approach
.
Reply
emrelg Sublime_Trading
@Sublime_Trading, okay than check this idea classic way gain so much money
Reply
@emrelg, Good on you. Take care.
Reply
emrelg Sublime_Trading
@Sublime_Trading, Thanks for your analysis
Reply
çanak çömlek öğrenen analiz yapıyor :D
Reply
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