EUR/TRY: long trade closed in profit (Demo) as trend at extreme.

2020年10月29日

Hello traders,

the readings on RSI and ATR, as well as the angle of the current hyperbolic move, make for difficult incentives for
holding a long trade on EUR/TRY: therefore, I closed my trade about 50% through the profit target and made a healthy
catch (over 26k).

In this video the key points discussed are:

- ATR divergence/waning (multi-timeframe analysis);
- RSI poss. divergence and also extreme reading (90+) in monthly/weekly;
- angle of hyperbolic rise starting to shape toward a vertical, strikingly similar to that of the 2018 move;
- extreme oversold reading in the MSCI Turkey ETF iShares and fading sell volume after historic lows warns of Lira-short exhaustion.

I also share a news source that is fundamental for Turkish Lira traders - watch the video to the end (no sales, it is a public resource)!

Thanks.
Stay safe
Happy trading
Francesco/FreeFX