USDTRY 7.85355 - 0.35 % SHORT IDEA * PRICE ACTION
Hey everyone
Here's a look at the DOLLAR / TURKISH LIRA from the 4h perspective hope you guys are having a good one.
The pair has been range bound in a ascending triangle and if we follow the 123 rule we are close to start seeing some rise in momentum on the pair more volatility coming into play not the trigger zone where we'll monitor price is at the 38.2 % Fibonacci retracement level as it saw those previous 1 & 2 touches from there i will be looking for continuation with the bears swing on the pair. should the trade trigger monitor price and place this one in your watch list...
many stars must align with the plan before executing the trade, kindly follow your rules.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
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ENTRY & SL - FOLLOW YOUR RULES
here's some of my rules if they help.
1. look at structure be it descending channels, pennants and so forth.
2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation.
3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term.
4. aggressive trades can be executed on the pull back
5. price action must definitely align with the plan.'
6. structure definitely
7. the 20 EMA must be respected as support / see a bounce at this structure
8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S .
9. CANDLE STICK PATTERNS.
so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan.
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Here's a look at the DOLLAR / TURKISH LIRA from the 4h perspective hope you guys are having a good one.
The pair has been range bound in a ascending triangle and if we follow the 123 rule we are close to start seeing some rise in momentum on the pair more volatility coming into play not the trigger zone where we'll monitor price is at the 38.2 % Fibonacci retracement level as it saw those previous 1 & 2 touches from there i will be looking for continuation with the bears swing on the pair. should the trade trigger monitor price and place this one in your watch list...
many stars must align with the plan before executing the trade, kindly follow your rules.
LET'S SEE HOW IT GOES..
HAPPY TRADING EVERYONE & LET YOUR WINS RUN...
_________________________________________________________________________________________________________________________
ENTRY & SL - FOLLOW YOUR RULES
here's some of my rules if they help.
1. look at structure be it descending channels, pennants and so forth.
2. RSI is overbought/oversold so will be looking for a pull back to structure before continuation.
3. will be looking for entries from 30M , 1H, 2H & 4H time-frames if taking the trade long term.
4. aggressive trades can be executed on the pull back
5. price action must definitely align with the plan.'
6. structure definitely
7. the 20 EMA must be respected as support / see a bounce at this structure
8. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S .
9. CANDLE STICK PATTERNS.
so i will most like's enter this one in a bit but i hope this idea assists in any way on your trading plan.
RISK-MANAGEMENT
PERIOD - SWING TRADE
__________________________________________________________________________________________________________________________
If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Comment:
Comment:
Trade closed: target reached
