Turkish Lira aginst US Dollar has been running between the monthly (2.7974-2.5604) and monthly . As i expected, we had 2 nice reactions both from demand and resistance zones.
Soon after consuming either of the monthly areas, we may see an abrupt and impulsive move whichever zone breaks first, probable outcome being upwards.
Currently, Price just created a new daily above (3.0119-2.97204) and boucing out of the (2.93236-2.89569). We may see some selling pressure coming around daily and we may have a small consolidation between those areas.
Under these circumstances, we can practice 2 scenarios;
1- Black: We can confirm our entries on lower timeframes and look for selling opportunities inside of the daily if emerges .
2- Red On the other hand, if daily got broken upwards, we would again be willing sellers since we will end up being in the monthly .