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EylemCulculoglu

USDTRY Falling Wedge Breakout is Imminent - Long Term Idea

Long
U.S. Dollar / Turkish Lira (FX:USDTRY)  
EylemCulculoglu  
FX:USDTRY   U.S. Dollar / Turkish Lira
Trend Analysis Harmonic Patterns Chart Patterns USDTRY usdtrylong usdtryanaliz usdtryforex usdtrybuy TRY
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trendanalysis harmonicpatterns chartpattern usdtry usdtrylong usdtryanaliz usdtryforex usdtrybuy try
USDTRY has a falling wedge formation on the weekly chart. If this week closes above 5.31 falling wedge breakout will be confirmed.

Stoch RSI is extremely oversold on the weekly chart. Tom Demark count gave a red 9 and counted extra 3 bars.

In upcoming weeks I expect a bullish rally to start.

Here is my long term trading idea:

Long at: 5.26 - 5.31
Take profit at: 5.43 - 5.75 - 5.82
Stop loss: 5.04

***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
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