Turkish lira need some courage to analyze
This is a classic example of risk management, if there is anyone who is over leveraged before the crash, the account must have been wiped out. I wish noone be in that position but if there is any survivor then probably a story to tell and help the community.
Why I am inclined towards long.
#1 : This is a retracement of the entire move from the beginning of USDTRY until 12/20/21 and we are at the moment between 38% and 50% fib level. is there a room for this to fall more, oh yes upto may be 50% at first which also confluence with 10 days moving average. Opportunity to sell every bounce with a good risk management
#2 : Then let's take the entire move of 2021 and breached 61.8% , one more leg down further would take us to 78% weekly level which is where level from #1 comes. accumulate slow and steady with good risk management
#3 : The price is in range bound at the moment between 12.5 and 10.5 Sell high and buy low with a good risk management
Where do I stand, I am bullish dollar that should say everything. All of the above are price analysis not a time analysis and my personal opinion. If you are not in this trade then staying out is better but if you are a survivor then either of 3 options should be helpful. Good luck.
Why I am inclined towards long.
#1 : This is a retracement of the entire move from the beginning of USDTRY until 12/20/21 and we are at the moment between 38% and 50% fib level. is there a room for this to fall more, oh yes upto may be 50% at first which also confluence with 10 days moving average. Opportunity to sell every bounce with a good risk management
#2 : Then let's take the entire move of 2021 and breached 61.8% , one more leg down further would take us to 78% weekly level which is where level from #1 comes. accumulate slow and steady with good risk management
#3 : The price is in range bound at the moment between 12.5 and 10.5 Sell high and buy low with a good risk management
Where do I stand, I am bullish dollar that should say everything. All of the above are price analysis not a time analysis and my personal opinion. If you are not in this trade then staying out is better but if you are a survivor then either of 3 options should be helpful. Good luck.
Comment:
Be sure to be on the top of it if you are in the trade. Option #3 might no longer be valid unless it comes back to the box. Good luck
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Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight st
Trading Crypto, Futures , Forex, CFDs and Stocks involves a risk of loss.
Please consider carefully if such trading is appropriate for you.
Past performance is not indicative of future results.
Always limit your leverage and use tight st