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.
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 (https://t.me/nirvanaconsorts) for speculation on lower time frames as price action is been monitored.
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