Sublime_Trading

USDTRY Is Flying High While Other Markets Remain Stagnant!

Long
FX:USDTRY   U.S. Dollar / Turkish Lira
The USDTRY is climbing fast while other markets remain stagnant. This is why we always want to have
a strategy that works in all markets as our money will always be working for us.

In early August 2020, price broke through a major level of resistance and is not looking back.
The trend that has been established is moving better than we could have imagined and this usually
happens when investing.

Assets will tend to trigger a position and then over time, the movement speeds up unexpectedly.
This is why we want to remain in a trend unless there is a good reason to exit.

The main reason we would exit would be if the trend has come to an end and this should be
stated in your Trading Plan.

Price has climbed 16.62% since breaking above resistance and we are seeing an extra thrust this week.
Momentum is good but we have to remember that it will not last so we need to be prepared to collect profit
and not give it all back to the market.

The next level we want to see price move towards is the 9.0000 round number.

See below for more information on our trading techniques.

As always, keep it simple, keep it Sublime.
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Comments

Very good comment but be careful about the swap rates. You don't want to hold it for too long.
Reply
@Fx-Noobie, we hold positions for as long as the trend is in play which can be anywhere from 3 months to 12 months for currency pairs. This is an exotic and so not for all account sizes. We recommend a minimum of 6 figures for it to be economical.

We appreciate the positive feedback.
Reply
Fx-Noobie Sublime_Trading
@Sublime_Trading, Thanks for your reply, I was just sayin sometimes TCMB may increase daily swap & rollover rates to 1000%. Just be cautious.
Reply
MB naçar....K U R uçar gider...................Y T D ..
Reply
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