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USD/TRY

  • #841
  • Jun 16, 2018 5:33pm Jun 16, 2018 5:33pm
Would appreciate any thoughts to your approach in the coming days with this pair. Not certain what to expect with the upcoming elections.

Last week my approach was extremely conservative and on the light side allowing me to gain moderate pips while coming out unscathed.

And the election itself? All new to me.

Green to you all.
  • #842
  • Jun 18, 2018 1:10am Jun 18, 2018 1:10am
Right now is a good lvl to open shorts. I think we will bounce in price range (4.46-4.8) Election wont change anything. Turkish central bank showed us some strength in last weeks. Lets see what happens
  • #843
  • Jun 18, 2018 1:12am Jun 18, 2018 1:12am
I have my short opened on friday 4.74
Attached Image (click to enlarge)
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  • #844
  • Jun 18, 2018 5:41pm Jun 18, 2018 5:41pm
Thanks for your input guys!

I found this, today. Not sure what.. means. Source is not readily available.

* Turkish Central Bank says opens $100 mln 3-month Lira Non-Deliverable Forward sale auction

Stay green!

edit: Won't let me link.

Source: http://www.netdania.com/Products/New...+&follow=False
  • #845
  • Jun 19, 2018 8:25pm Jun 19, 2018 8:25pm
Quoting LukaszH
I have my short opened on friday 4.74 {image}
Hello LukaszH, you are able to use 200 size lots, how is that possible. Moreover I have been in USDTRY bearish trend since last week, any hope of a downward movement. I really have to close this trade. Maybe the election may trigger a bullish before result is announce
  • #846
  • Jun 19, 2018 8:51pm Jun 19, 2018 8:51pm
Quoting Ubmark
{quote} Hello LukaszH, you are able to use 200 size lots, how is that possible. Moreover I have been in USDTRY bearish trend since last week, any hope of a downward movement. I really have to close this trade. Maybe the election may trigger a bullish before result is announce
i have 8 shorts around here on euro/try and usd/try and have a few limit trades incase it goes up i dont know how you big your account is but beware mate small accounts can get wiped out with try
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  • #847
  • Jun 19, 2018 9:16pm Jun 19, 2018 9:16pm
I play correlation most often. With a small account, I'm only interested in high prob scalping on this pair.

DXY usually makes a bullish move between 12am to 2am NY time almost every day. It's so common that even when DXY is bearish on occasion, big players load up for a bullish usdtry run and in those cases it can run bullish for the hour and retrace quickly for continuation of the the trend's bearishness. I see this in the candlestick movement. Just something I do well. I do a lot of other things not-so-well, just to be clear. I'm not so special. I do well by NOT trading or shorting this pair. Also, during this time of day - usually more around 2am when most gather, the spread is reduced to 17 to 24 pips for safest entries. I'm a bit more aggressive in my trading.

I tried to short this pair over the last week or so and it's eaten my lunch so I'm on the sidelines right now. I see this pair wavering, unsure and waiting on fundies to push it one way or another. Very dicey.

There are a lot of scalping algos on this pair imo from what I see. They seem to be running along with a stochastic indication of momentum from what I can tell.

I am not an expert. The time frame of a bullish scalp as I describe above can be quantified, tho. That's legit.

Just thought I'd put in my 2 cents since I'm the odd one not trading on the trend.

As always, I could be completely wrong except for the bullish scalp runs at that time of day.

Trade well!
  • #848
  • Jun 19, 2018 11:22pm Jun 19, 2018 11:22pm
Quoting 2dollardog
Also, during this time of day - usually more around 2am when most gather, the spread is reduced to 17 to 24 pips for safest entries. I'm a bit more aggressive in my trading. I tried to short this pair over the last week or so and it's eaten my lunch so I'm on the sidelines right now.
USD has been strong over the past month, or so. EUR has weakened, considerably, over that time. I have some EUR/TRY shorts that I keep on, to pay for holding USD/TRY longs. I'm slightly long-biased. I'll usually put more longs on around 12 AM MST (Frankfurt open). London open at 1AM usually confirms the move. I'm being careful, as election is on the 24th. Could see big moves, on and around that day.
  • #849
  • Jun 20, 2018 12:47am Jun 20, 2018 12:47am
dont you just love the try
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  • #850
  • Edited 1:12am Jun 20, 2018 12:59am | Edited 1:12am
We also see a BAT battern. Of course there is a room to go up more (4.8-4.82) and than we should start huge correection

@Aussie, my account is big enough
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  • #851
  • Jun 20, 2018 1:35am Jun 20, 2018 1:35am
Quoting LukaszH
We also see a BAT battern. Of course there is a room to go up more (4.8-4.82) and than we should start huge correection @Aussie, my account is big enough {image}
good mate seems we and a few others will make more money , just now have some more sells and have put more sell limits higher up and thanks for your pattern i will add more limit sells kindest regards from dave
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  • #852
  • Jun 20, 2018 2:18am Jun 20, 2018 2:18am
Quoting LukaszH
We also see a BAT battern. Of course there is a room to go up more (4.8-4.82) and than we should start huge correection @Aussie, my account is big enough {image}
Base on your assurance I have place a BUY on USDTRY & set TP at 4.8, I hope I will re-gain my loss previously when on SELL. Thanks in advance if you're right
  • #853
  • Jun 20, 2018 5:00am Jun 20, 2018 5:00am
i love sells and a very nice couple of hours, and up she might go so i can fill sells again
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  • #854
  • Jun 20, 2018 5:36am Jun 20, 2018 5:36am
Attached Image (click to enlarge)
Click to Enlarge Name: eurtry-m30-international-capital-markets.png Size: 34 KB
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  • #855
  • Jun 20, 2018 6:14am Jun 20, 2018 6:14am
Quoting Ubmark
{quote} Base on your assurance I have place a BUY on USDTRY & set TP at 4.8, I hope I will re-gain my loss previously when on SELL. Thanks in advance if you're right
I said there is a room to go up.. not necessarily it happens. We can start correction right now too
  • #856
  • Jun 20, 2018 5:56pm Jun 20, 2018 5:56pm
Quoting MisterWhite
{quote} USD has been strong over the past month, or so. EUR has weakened, considerably, over that time. I have some EUR/TRY shorts that I keep on, to pay for holding USD/TRY longs. I'm slightly long-biased. I'll usually put more longs on around 12 AM MST (Frankfurt open). London open at 1AM usually confirms the move. I'm being careful, as election is on the 24th. Could see big moves, on and around that day.

Smart, covering your bases. I still have difficulty with multiple trades. Thank you for the insight, it makes sense according to what I see on the charts.

Trade safe, everyone.

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  • #857
  • Jun 21, 2018 1:26am Jun 21, 2018 1:26am
and up she goes again
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  • #858
  • Jun 21, 2018 2:20am Jun 21, 2018 2:20am
nice small spike down
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  • #859
  • Jun 21, 2018 3:11am Jun 21, 2018 3:11am
Quoting Aussi
nice small spike down
Somebody had lunch on me, but that's all. lolz
  • #860
  • Jun 21, 2018 4:33am Jun 21, 2018 4:33am
Erdgon Threatens Central Bank Independence - New Europe Published 10:52 June 21, 2018
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