Here we are witnessing a very interesting move taking place for the Turkish financial system. After finishing a clear corrective ABC sequence since the August highs we are now in the early stages of an impulsive move to finish the more broader 5th wave in a very large sequence.
For those tracking the updates in USDTRY in the previous charts (see attached: "Starting 5th wave looks imminent..") this is the move we have been waiting for over the last few months. Finally it is here, time to stick the knife in and cause maximum pain for Turkey.
The fact that we are rallying in an impulsive manner means we are going to eventually crack 6 + and possibly even 7.80
Continuing to watch with interest, all positions are fully loaded here as has been the case for months. Time to sit on our hands and enjoy the moves.
Thanks
For those tracking the updates in USDTRY in the previous charts (see attached: "Starting 5th wave looks imminent..") this is the move we have been waiting for over the last few months. Finally it is here, time to stick the knife in and cause maximum pain for Turkey.
The fact that we are rallying in an impulsive manner means we are going to eventually crack 6 + and possibly even 7.80
Continuing to watch with interest, all positions are fully loaded here as has been the case for months. Time to sit on our hands and enjoy the moves.
Thanks
