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mrsceleste

USD/TRY Possible Bearish Pennant Formation

Short
U.S. Dollar / Turkish Lira (OANDA:USDTRY)  
mrsceleste Updated   
OANDA:USDTRY   U.S. Dollar / Turkish Lira
Pennant Fibonacci Trend Lines USDTRY usdtryshort
12
1
pennant fibonacci trendline usdtry usdtryshort
See linked idea below with commentary. We got trendline break and consolidation. Bulls appear to be exhausting; also based on bullish pennant forming I would expect to see further push to the downside; trade at your own risk and use proper risk management. This trade is for demonstration and educational purposes.
Comment:
Height of mast of bearish pennant; measurement of the same after push down to 50% would be about the same..as noted below

snapshot
Trade closed manually:
Too much bullish activity and momentum gathering.

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mrsceleste
USD/TRY Possible Short Idea
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