USDTRY DMA and RSI Strategy

429
I expect USDTRY to face hard resistance at the linear resistance zone (5.93-6.07). At that time Daily RSI will have reached overbought zone again, hence, price correction towards the rising 200DMA would be inevitable. This would perfectly match the traditional MAs Golden Cross ( 50 day Moving Average crossing 200 Day Moving Average to the upside) behavior . Traditionally, after golden cross event, price continues to climb until first resistance, then turns back to test the 200 Day Moving Average to see whether it is still there to provide strong support. If the price and RSI behave according to my expectation, this may be a perfect opportunity for scalping before the next golden cross event ( 100DMA-200DMA Golden cross) which will confirm the next bull rally to the new All time high prices.
Disclaimer: This is not a financial advise. My Technical Analysis represent possibilities, not certainties.

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.