FX:USDTRY   U.S. Dollar/Turkish New Lira

Turkish Lira aginst US Dollar             has been running between the monthly demand zone (2.7974-2.5604) and monthly resistance area . 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 supply zone above (3.0119-2.97204) and boucing out of the support zone (2.93236-2.89569). We may see some selling pressure coming around daily supply zone 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 supply zone if emerges .
2- Red On the other hand, if daily supply zone got broken upwards, we would again be willing sellers since we will end up being in the monthly resistance area .

http://tradewithcan.blogspot.com.tr/2016/05/weekly-bulletin-21-wekk.html

https://twitter.com/TradewithCan
Ideas Scripts Chart
United States
United Kingdom
India
España
Italia
Brasil
Россия
Türkiye
日本
한국
Home Stock Screener Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Private Messages Chat Ideas Published Followers Following Priority Support Public Profile Profile Settings Billing Sign Out