We can see on the half hour graph that USDTRY is forming a second pennant formation.
We have to wait and see other indicators to support this move such as Parabolic SAR and RSI. Moving average is crossing the bollinger middle band as I'm publishing this. Volume is getting higher in each stick forms. Also bollinger bands narrowed down for a move. Target of this pennant will be around 5,81
This morning price made a false break of pennant support. Just like it did on the first pennant formation. And the steep uptrend started right after this false break. Most probably that false break stopped many people's trade.
We have to wait and see other indicators to support this move such as Parabolic SAR and RSI. Moving average is crossing the bollinger middle band as I'm publishing this. Volume is getting higher in each stick forms. Also bollinger bands narrowed down for a move. Target of this pennant will be around 5,81
This morning price made a false break of pennant support. Just like it did on the first pennant formation. And the steep uptrend started right after this false break. Most probably that false break stopped many people's trade.
Trade closed: target reached:
Target took more time to reach than expected. But now the price is on our target and trade closed successfully