U.S. Dollar/Turkish New Lira FX:USDTRY


Tendency: Uptrend ( Bullish )
Structure: Harmonic | Gartley forming
Observation: i. Using Fibonacci ratios, the retracement between point X and point B is approximate of 61.8%.
ii. At point C, the price reverses to point D.
iii . When price action reaches point D, the Gartley is complete signalling a LONG expectation.
v. Point D ( DEMAND zone ) is our area to look for a LONG position.
Trading plan: i. BUY at DEMAND zone using adequate confirmation entry with TP1, TP2 and TP3 (3,600pips) and SL @ 5.45000/5.40000zone.
Risk/Reward: 1/3.15
Potential Duration: 5 to 10 days

** Please note that Stop Loss is subject to individual risk appetite per trade and account size.

Watch this space ( for speculation on lower time frames as price action is been monitored.

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Margin trading in the foreign exchange market (including foreign exchange trading, CFDs, etc.) has a high risk and is not suitable for all investors. The content of this speculation (including all data) is organized and published by Nirvana Trades & Investments for the sole purpose of education and assistance in making independent investment decisions. All information herein is for your reference only and NFTI takes no responsibility.
You are hereby advised to carefully consider your investment experience, financial situation, investment objective, risk tolerance level and consult your independent financial adviser as to the suitability of your situation prior to making any investment.
NFT&I does not guarantee its accuracy and is not liable for any loss or damage which may result directly or indirectly from such content or the receipt of any instruction or notification therewith.
Past performance is not necessarily indicative of future results.

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