Good Evening Dynamic Traders,
The week is almost upon us with one day left of playing on the markets. I am going to stick with the USDTRY tonight, because I want to round off the action this week before I move on to something else.
In the day chart below you can see that price has been making another attack at the support line over the last couple of days. Today has seen price close in a bearish stance, however do not rule out the chance of price break above this line. Price still has every opportunity to continue to climb, we will have to wait and see what fun price brings us over the next couple of days. Realistically we will have to wait till at least Tuesday, because things will calming down on the Friday and we will have to let price settle after the weekend and the after the action that Monday brings us.
If price is able to beat the support line and figure of 1.90 I personally will not be jumping into a trade until price has confirmed that he has beaten the support line and figure. When I have this confirmation I will be using my trust ESLT tool to jump into a long position.
What will your plan be?
I hope you all have a great end of week.
Carpe Diem
Richard
Tags: usdtry
