We have a nice swing trade op in this pair, go long at market, stop loss should be placed below the recent low. I think the pair has room to rally back to resistance (see red line on chart). Linear regression and speed lines help us, along with oscillators and bar by bar analysis, as well as the use of RgMov, to determine the trend and where trend following or short term reversal opportunities arise. I'd say the odds of success here are big, but given the tight stop I wouldn't risk a full unit (your maximum risk per trade) but rather risk 1/4 of it for now. The same signal is active in the EURTRY pair, but since I'm trading the EURUSD pair separately, I'm only focusing on USDTRY for now.
Best of luck,
Ivan Labrie.
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#USDTRY acting as expected, hodl!
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Ready to move up...
Trade closed manually
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I've sold my position around here, will buy back on dips to support.
Was in from 5.646, stop @ 5.585. Moved stop and was taken out in profit for 1R.
There is a meeting at 25 th of October , CB will pass on hiking rates this would trigger your long trend however 6.11 is a bit on high side, for example we are expecting some other improvements with USA relations therefore investors would not take risk when it reaches to 6, I guess by the way I am on long as well until 5.90
oguzozg
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@serkanarslan, Markets already priced in improved relations with USA. Now markets will show that US relations was just a narrative for the government to blame the economy. We shall see in the upcoming months.
emrelg
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are you sure rally will happen?
IvanLabrie
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@emrelg, I'm as sure as can be, enough to risk 1/4 of my maximum risk per trade on this operation, with the stop loss and entry I explain here. It's a trading signal, not a forecast necessarily.