tonz_of_gunz
Short

USDTRY SHORT THE RISING WEDGE

FX:USDTRY   U.S. Dollar / Turkish Lira
Sell USDTRY             after confirmed rising wedge breakout.
Comment: USD news wrecked us just when i thought its still a hope for this trade :)
The first and 'even' the second targets are possible to my point of view.. ;)
But we should keep in mind and watch for the deadlines of a couple of political clarifies in Turkey;

1- The determination of the new prime minister (within a week or so..)
2- High court’s decision about the congress of the opposition party (within 2-3 weeks)

,as we keep in mind the fact that almost half the way of 2.79-2.98 band is caused by domestic policies, and that TRY is still pretty fragile, i can say; the resistance level at 2.90 may be the most optimistic target, for short.. :)

but i agree there will be a downward correction..

Have a nice day ;)
Reply
tonz_of_gunz Citoles1000mg
Thank you for your comment, hopefully it will reach the targets before any of those political things happen :)
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