A critical decision for USDTRY

The upcoming price movement in USDTRY chart is likely to reveal whether the correction ended. Until 0.786 is broken downwards this cannot be invalidated. If this is the case, fibo 1.618 and 2.618 are the potential targets for the Wave 3. This post is for educational purposes.

Trade geschlossen: Stop wurde erreicht:

0.786 violated and the trade is terminated. If it is going to complete H&S so we can expect a price movement towards 5.30s. I also look for a diamond bottom formation in the next round.

Trade wurde manuell geschlossen:

The final update presents how a diamond bottom could form in the given case