USDTRY: Downtrend continuation

14 พ.ย. 2015

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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17 พ.ย. 2015

บันทึกช่วยจำ

Nice daily candle today.

18 พ.ย. 2015

บันทึกช่วยจำ

We can place a scale in after the daily close.

19 พ.ย. 2015

การซื้อขายยังคงดำเนินอยู่

19 พ.ย. 2015

บันทึกช่วยจำ

Beautiful.

24 พ.ย. 2015

บันทึกช่วยจำ

Monitor price action, downtrend might fail signaling a long trade.

27 พ.ย. 2015

บันทึกช่วยจำ

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.