TomProTrader

#USDTRY-Update: Bulls Around, 3 Wave Move In The Making! #Forex

FX:USDTRY   U.S. Dollar / Turkish Lira
66 0 5
Traders,

UPDATE: The trade moved very well since I last posted (See related ideas)

The pair had a nice bullish impulse leg, and a corrective move to the downside. Bulls began buying after the correction for a continuation move. The corrective move hit the Fibonacci retracement well, then the bears stepped in. This is likely a 3 wave cyclic move, into the highs of the trading range. I hope you have your own tested trading strategy to have taken advantage of this move.
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