There is a potential to trade a downside breakout of the consolidation (lira continues to increase) into wedge/triangle support.
The price target is the rising trendline on both the USD/TRY (near 5.75) and EUR/TRY (just above 6.4). A stop loss goes above the consolidation.
The reward:risk is 1.25:1 to 1.5:1, but over a week or two the rollover would add to the potential profit.
The Turkish lira interest rate is 11.25%. The US rate is 1.75% and the EUR rate is 0%. The short trade picks up the interest rate differential. A long trade pays the interest rate differential. I am not interested in the long, only the short, if it materializes.
The price target is the rising trendline on both the USD/TRY (near 5.75) and EUR/TRY (just above 6.4). A stop loss goes above the consolidation.
The reward:risk is 1.25:1 to 1.5:1, but over a week or two the rollover would add to the potential profit.
The Turkish lira interest rate is 11.25%. The US rate is 1.75% and the EUR rate is 0%. The short trade picks up the interest rate differential. A long trade pays the interest rate differential. I am not interested in the long, only the short, if it materializes.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.
Cory Mitchell, CMT
Stock and forex trading insights at tradethatswing.com/
Stock and forex trading insights at tradethatswing.com/
Feragatname
Bilgiler ve yayınlar, TradingView tarafından sağlanan veya onaylanan finansal, yatırım, işlem veya diğer türden tavsiye veya tavsiyeler anlamına gelmez ve teşkil etmez. Kullanım Şartları'nda daha fazlasını okuyun.