Market Overview for Dolomite/Turkish Lira (DOLOTRY) on 2025-10-31

• Dolomite/Turkish Lira (DOLOTRY) traded in a volatile range today, hitting a high of 3.286 and a low of 3.062.
• A strong bearish reversal is observed after the 17:30 ET candle, which closed at 3.116, down from 3.188.
• Volume surged in the early part of the session, peaking at 210,043.7 TRY, but diminished in the final hours.
• RSI and MACD indicate oversold conditions, suggesting a potential bounce.
• Bollinger Bands show price has moved below the 20-period lower band, indicating high volatility.

Dolomite/Turkish Lira (DOLOTRY) opened at 3.218 at 12:00 ET – 1, reached a high of 3.286, a low of 3.062, and closed at 3.286 at 12:00 ET. Total volume across the 24-hour window was 1,972,707.4 TRY, with turnover in the range of 6.2 million USD. Price action was marked by sharp swings, with a key bearish reversal pattern forming around the 17:30 ET candle.

The structure of the day shows multiple key support and resistance levels forming, with 3.116 as a strong support and 3.276 as a potential resistance. A bearish engulfing pattern formed at 17:30 ET, signaling a possible trend reversal. The price appears to have found a floor near 3.062 before rebounding. Several doji and spinning top candles emerged in the latter part of the session, hinting at indecision among traders.

The 20-period and 50-period moving averages on the 15-minute chart crossed during the early hours, suggesting a short-term bearish bias. MACD shows a bearish crossover, with momentum weakening. The RSI crossed into the oversold territory below 30, indicating the potential for a near-term bounce. Bollinger Bands reflect increasing volatility as the price moved below the lower band, a sign that the market may be overextended.

Volume distribution shows a significant spike at 17:30 ET, coinciding with the bearish reversal pattern, and a smaller but meaningful increase in the final hours of the session. Notional turnover and volume are broadly aligned, though a divergence appears in the last candle as volume dipped with a higher close. This divergence may signal a potential continuation of the bearish trend or a retest of key support levels.

Backtest Hypothesis: The system encountered a ticker mismatch for DOLOTRY, preventing the execution of the automated backtest. Once the correct ticker is confirmed (e.g., USDTRY or similar), a full backtest can be initiated to evaluate the effectiveness of a Bearish Engulfing pattern-based strategy. This strategy would simulate daily trade entries on the 15-minute chart and hold for one day, with performance metrics measured from 2022-01-01 to 2025-10-30. The integration of moving averages and RSI can refine the signal quality before deployment.