Today's recommendation on the TRY/USD
Risk 0.50%.
Best buying entry points
- Entering a long position with a pending order from levels of 18.50
- Set a stop-loss point to close below the 18.25 support level.
- Move the stop loss to the entry area and continue to profit as the price moves by 50 pips.
- Close half of the contracts with a profit of 70 pips and leave the rest of the contracts until the strong resistance levels at 18.99.
Best-selling entry points
- Entering a short position with a pending order from levels of 18.99
- The best points for setting stop-loss are closing the highest levels of 19.15.
- Move the stop loss to the entry area and continue to profit as the price moves by 50 pips.
- Close half of the contracts with a profit equal to 70 pips and leave the rest of the contracts until the 18.55 support level.
The TRY/USD settled within a narrow range that has been going on for several weeks, to continue stability for more than a month and a half, amid recording slight movements with the pair's stability within the rectangle range shown through the attached chart. The pair is trading the highest levels of support, which are concentrated at levels of 18.42 and 18.40, respectively. On the other hand, the lira is trading below the psychological resistance levels at the 19.00 correct number.
The pair continued trading above the 50, 100 and 200 moving averages on the daily time frame, while the price is trading between these averages on the four-hour time frame as well as on the 50-minute time frame, in an indication of the divergence that the pair is recording at the moment. Any drop in the pair represents an opportunity to buy back again. Please adhere to the numbers in the recommendation with the need to maintain capital management.
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