USDTRY: Downtrend continuation
Time at mode gives me a strong downtrend signal for this pair on the daily.
The elections caused price to take a massive dive, after which we had a good long trade setup, which I posted here and hit targets, although it took a long time to arrive to it.
Now, I think it's pretty clear that the pair will resume its downward trayectory towards a potential retest of the 6m uptrend's mode at 1.51399.
For the time being, aim to capture the path that the daily trend signal's offering, and if short, trail stops using the 10 period MA on chart. If you didn't enter yet, you can short at the open with a stop above the blue line, which gives you a 3.8:1 trade already.
Good luck,
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Skype: ivanlabrie
QQ: 2954487803
Regards,
Ivan Labrie
The elections caused price to take a massive dive, after which we had a good long trade setup, which I posted here and hit targets, although it took a long time to arrive to it.
Now, I think it's pretty clear that the pair will resume its downward trayectory towards a potential retest of the 6m uptrend's mode at 1.51399.
For the time being, aim to capture the path that the daily trend signal's offering, and if short, trail stops using the 10 period MA on chart. If you didn't enter yet, you can short at the open with a stop above the blue line, which gives you a 3.8:1 trade already.
Good luck,
Check out Tim West's "Key Hidden Levels Chatroom for more insights on the stocks , bonds, metals, currencies and Bitcoin markets. I'm currently managing a private trading room for Forex , CFD and Bitcoin futures traders.
Contact me for more details on how to join either of the two.
Skype: ivanlabrie
QQ: 2954487803
Regards,
Ivan Labrie
Komen:
Nice daily candle today.
Komen:
We can place a scale in after the daily close.
Dagangan aktif
Komen:
Beautiful.
Komen:
Monitor price action, downtrend might fail signaling a long trade.
Komen:
Fundamentals changed, it's possible to see uptrend continuation. We have a clear W bottom, and a failed downtrend signal, since price crossed back above 2.89821. No trade is safe right now, we'd need to study it more closely, perhaps wait for the Fed meeting on the 30th.
