Turkish Lira vs USD

FX_IDC:USDTRY   U.S. Dollar / Turkish Lira
Historically USD against TL , if at the major top, it will dramatically drop back and can not hoover around the top. Hovering close to top is a sign that USd is forming a continuation pattern, probably a symmetrical triangle.
Long term bulllish on USD/ TRL


Can you give more details please?
Bsoze WACD
@WACD, sure. Historically, as the high interest rates differentiation between TL and USd, when the market tops out , the market turns into downside very rapidly and never capitulates in areas close to the top. In this situation USd seems to keep its strength even after the interest rate hikes. Which gives the impression that this resting period is highly probably a consolidation period in a continuation uptrend.
WACD Bsoze
@Bsoze, Thank you.
So we can expect higher highs from this point forward ?
Bsoze WACD
@WACD, as the pattern shows that this is highly probably a consolidation pattern and I would expect to see 5.10 after the pattern is broken out
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