Thank you Talon, for the comments and the websites.
I have used CME currency futures for some time now but while Mexican Peso future charts have a lot of data points
(due to being more liquid) and you can narrow them down to hourly volume/candles, Turkish lira futures are very sparse
and anything below daily chart does not offer you much. Also, try looking ahead (e.g. December contracts) and you will
get basically zero data points. I am comparing MXN/USD and USD/TRY futures because they are both EM currencies…
What I find more helpful is looking at XU-BIST100 and MSCI Turkey i-shares ETF charts, both having a tight correlation
with USD/TRY spot. However, correlation and CAUSATION are like chicken and egg: which comes first? It is up to the beholder to know how to make trading decisions… No chart offers the future, not even…a futures chart
I am shorting EUR/TRY again as it has come to +90 RSI on both daily and weekly for the first time in ages and on the monthly for the first time EVER. On the hourly the RSI has started diverging today for the first time from price action,
all signs that the rally (for now) could be over. I am now up £213 on my short at £0.74/pip, so up about 290 pips.
Good luck on your longs, and on my shorts