mecZpasha

USDTRY 23.02.20 (EN) - Market Reach Supply Zone. Be Careful!

FX:USDTRY   U.S. Dollar / Turkish Lira
Highly Possible Scenario - As I mention on the video current price level is very important resistance and also market may in a fake breakout to the major channel. Also, we can easily see Gartley and Butterfly Pattern development in that zone. If we are in the bull trap there is highly possible we will see kind of reversal and downward move to do downside. We can enter this trade at 5-0 pattern on the 15min chart or just sell the last downward move's Fibonacci retracement . You can also use 50EMA on the 4h because it acts like support many times before. Our target is 5.97400.

Less Possible Scenario- Price just makes higher high from here and breaks the last high which is 6.12. Then we may consider to buy it with trend following patterns till 6.25...

If you enjoy this free analysis hit the thumbs up button! If you have any other opinion let me know in the comment section below.

See you later!

-mecZpasha

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