USDTRY at inflection point

USDTRY in the resistance area. We may be facing a strong reversal to the downside - otherwise direct extension to 8.70 - 8.73 area would make the case for the bullish Alternate W count.

Anyway, from practical standpoint, for confirmation of a high I need initial 5 waves pattern to the downside - so please be careful with shorts until we get initial i - ii down.

TRY= - Primary D - Oct-29 1309 PM (1 day)
TRY= - Primary D - Oct-29 1309 PM (1 day)
TRY= - Alternate W - Oct-29 1309 PM (1 week)
TRY= - Alternate W - Oct-29 1309 PM (1 week)
TRY= - Primary W - Oct-29 1309 PM (1 week)
TRY= - Primary W - Oct-29 1309 PM (1 week)
Arkady Yakhnis provides extensive coverage on precious metals, energy, and forex at ElliottWaveTrader.