peterbokma

USDTRY- SELL with upside bias

Short
FX:USDTRY   U.S. Dollar / Turkish Lira
The RSI is still very high 86.6 and the stochastic is positive.

The scenario I feel is, that we will again move upwards short-term 14.50-16.00 (it's a medium-term view right) and we will only add or SELL in those ranges to create a valuable average for the down move to 10.50 -9.00 after the climb.

The issue is, it is costly to be LONG and one cannot be sure when or how long the move will take to go upwards. I personally focus on SELL but picking the higher levels and will await patiently for that.

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