I know what you think... a 9.8% move just one day.
As said before, small increments selling USDTRY, but I fully understand the rocket move we are facing. The Daily RSI 97.0 now (unheard of) and Weekly almost 91.0.
The last time this happened, the correction was 2.5 points, so the 10.13 objective is still valid.
The same happen with USDITL and DEMITL long time ago. Capital outflows due to capita restrictions rumors etc were causing the market scare with similar RSI and price movements. I do not change view and see this as opportunity albeit a small position only as its scary movements no doubt.
As said before, small increments selling USDTRY, but I fully understand the rocket move we are facing. The Daily RSI 97.0 now (unheard of) and Weekly almost 91.0.
The last time this happened, the correction was 2.5 points, so the 10.13 objective is still valid.
The same happen with USDITL and DEMITL long time ago. Capital outflows due to capita restrictions rumors etc were causing the market scare with similar RSI and price movements. I do not change view and see this as opportunity albeit a small position only as its scary movements no doubt.