USDTRY tactical short position. 1-HOUR trade.
**Note, we will analyze the longer term setup this weekend, probably with a video analysis.
The Turkish currency has been severely sold off over the past few weeks.
This is a tactical trade fading exhaustion. No market can go straight up or down without a pullback.
The reason for this is because traders like myself come in and fade it for a quick scalp.
Believe it or not, there will be a very large USD bear market soon, which will see EM currencies on a multi-year rally. I expect this to begin at latest Q3 of 2018 and increase in acceleration by 2019.
The Turkish currency has been severely sold off over the past few weeks.
This is a tactical trade fading exhaustion. No market can go straight up or down without a pullback.
The reason for this is because traders like myself come in and fade it for a quick scalp.
Believe it or not, there will be a very large USD bear market soon, which will see EM currencies on a multi-year rally. I expect this to begin at latest Q3 of 2018 and increase in acceleration by 2019.
