Exotic currency to watch for ---> South African rand USDSAR, Mexican Peso USDMXN and Turkish lira USDTRY
TRY is heading the record highs following shaky political situation in Turkey. President of Turkey is expected to put pressure on Central Bank and supply cheap USD to let sinking TRY breathe!
Long term bullish on USDTRY but we might see a retrace from higher levels
Watching the action and getting ready to short!
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Shorted @ 4.9550
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100k short is paying $40 a day interest - straight out of Turkish Central Bank’s pocket!
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We are up 3% $$$ fundamentals at play - waiting for some action $$$
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We are up 2000 pips $$$$ looking good $$$
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up +2200 pips! $$$
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100k short would give you $720 by now. We are up +1000 pips! Expecting a short-lived upside action
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trade still active - added more shorts @5.10 I only add more shorts if it's an exotic currency pair We are getting %1.3 interest a month on our short
Wow guys - witnessing devaluation of Turkish Lira 75% devaluation in 1 year!!! I have opened one more short position @5.72 $$$ game changed - targeting 5.00 for now!
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Is Turkey next Venezuela ? Who knows, shorted more @6.02
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Further shorts @6.50 $$$ Historical Turkish Lira devaluation in play!
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We are expecting hyper inflation and high interest rates soon! Causitous with Turkish Lira bonds $$$