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mrsceleste
Jun 11, 2019 4:20 PM

USDTRY Possible Bearish Pennant Short

U.S. Dollar/Turkish New LiraFXCM

Description

Possible bearish pennant formation on this pair. Note possible trend line confluence as well as 61.8% fib level target. Initial bearish outbreak gave us approximately 200 pips. Breakout to target would mirror another 200'is pips. I do believe long term we will see higher prices, but for short term we have to take what the market gives us. This trade idea is for demonstration and educational purposes. Trade at your own risk. THIS IS NOT A SIGNAL

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Order cancelled

Comments
mediamax
Drawing a PF on the H1 there are three distinct touches of the Upper Parallel.
mrsceleste
@mediamax, Thank you for sharing this. Much appreciated your view is.
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