TomProTrader
Short

GBP/TRY - Short Opportunity

FX_IDC:GBPTRY   BRITISH POUND / TURKISH LIRA
What's up traders, I am just quickly posting this chart for you all whilst it is on my radar.

Here we have GBP/TRY on the 1H chart. Price restently broke a long term side-wards support level , and retested it as a new sideways resistance. Once price confirmed the line as resistance, broke also broke a flag channel support simultaneously, leading to a breakdown move.

Since this trade is already moving, I am advising traders to look for a retest to look for a short opportunity.

Updates for this idea will be posted below. Leave a like & follow so you don't miss any of our content.

Trade ist aktiv: GBP/TRY has had a nice move since the above analysis was posted.

Here we have the GBP/TRY chart on the 1H chart.

After price broke down, there was a correction to the upside. When price stalled, this was the ideal time to be selling the pair.

Since the sell signal, price has had a nice move to the downside and successfully made new lows.

I am now expecting price to continue its journey to the downside, down to our original target level of 5.1230.

Thanks
+1 Antworten
@ManuRusu, Thank you
Antworten
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