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TheSignalyst
Jul 2, 2020 3:31 PM

USDTRY waiting for our trigger to sell Short

U.S. Dollar/Turkish New LiraFXCM

Description

on DAILY: USDTRY is sitting around a strong supply zone in blue and around all-time-high, so we will be looking for objective sell setups on lower timeframes.

on H4: we are waiting for a momentum break below 6.830 in green as our confirmation and trigger.

as usual, we target a 2/1 risk/reward ratio.
Comments
Kxeroo
I suggest you to stay away from short trades on USDTRY. Goverment manipulated pair right now but considering depleted USD reserves and no serious swap deals (for a reason of course) Turkish economy struggles just as bad as Argentina its just the numbers are fixed by goverment and rezerve bank interferes as much as it can. That is the reason past 15 days the pair is not moving.. coz there is no room to down but if reserve bank of Turkey lets it will go another 10% up to a value area. So technical look doesnt really apply to TRY at the moment
TheSignalyst
@Kxeroo, thank you for the input!
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