Trend traders will want to observe that the strongest trend appears on the 30 day horizon; over that time period, price has been moving down.
This move is a reversal from the hour prior, which saw price move up.
If you’re a trend trader, consider that the strongest clear trend on the hourly chart exists on the 100 hour timeframe.
Given that we see an uptrend on the 10 hourly candle timeframe, and that such candlestick patterns often denote reversals, this may be worth noting.
Or to simplify this another way, note that out of the past 30 days usdtry’s price has gone down 18 them.
The closest is the 20 day average, which is 2299.5 pips away.
It’s been a feast for bears operating on an hourly timeframe, as usdtry has now gone down 4 of the past 5 hours.
The clearest trend exists on the 14 day timeframe, which shows price moving down over that time.
Or to simplify this another way, note that out of the past 14 days usdtry’s price has gone down 9 them.
Price action traders may also wish to note that we see a pin bar candlestick pattern on usdtry.