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Euro / Turkish Lira

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EURTRY trade ideas

EURTRY long term down movementEURTRY did an impulse down and now it is in a deep correction before the next impulse down. I anticipate a longer term weekly downtrend to start soon. In addition the positive swap is really good for short positions (at least in my broker). In addition we have regular divergence in Daily timeframe. Furthermore EURTRY is in the highest point of the last 17 years (or even more), so it is in extreme values. IF this trade happens it will take a log of time, BUT it will give us yearly gain. So you need to be patient. However as always i have draw in the chart my invalidation level. Thank you for your support.
Short
by NTrading
EURTRY-Update: Buy Set Up #ForexTraders, UPDATE: Trade is moving very well since I last posted (see related ideas) I hope you had your own tested trading strategy to trade this move. Previous analysis: Strong bullish engulfing signal after a series of narrow range doji's at a major correction level after a bullish impulse leg. Price corrected nicely into the Fibonacci retracement level, simultaneously retesting the exponential support level, offering a nice launchpad for upside move to the highs of the range. Move is an impulse leg, with a 3 wave measure move target. Thank you for your support.
by TomProTrader
EURTRY: Buy Set Up #ForexTraders, Strong bullish engulfing signal after a series of narrow range doji's at a major correction level after a bullish impulse leg. Price corrected nicely into the Fibonacci retracement level, simultaneously retesting the exponential support level, offering a nice launchpad for upside move to the highs of the range. Move is an impulse leg, with a 3 wave measure move target. I hope you have your own tested trading strategy to trade this move when it starts Thank you for your support.
Long
by TomProTrader