Attrition

USDTRY Drop Potential

Short
FX:USDTRY   U.S. Dollar / Turkish Lira
Where is the volume that's backing this drop? If we look at the Weis Volume and Pip waves, while there is obviously change in price this happened with very low amounts of selling pressure.

It's an amazing feat we even had this drop with this relatively incredibly low volume . If/As price goes down the previous high buy volume might start to liquidate their positions either voluntarily or involuntarily. My price target for this scenario is that we at least see 6.96 for stop hunting with a possible fast wick to 6.75 levels then settling the price around 7.00-7.15 level, then possible increase again over time.

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