Expecting USDTRY to end correction around 4.80-5.00 and consolidate there for a while and start a new rally in 2019. This is how trends works, never use straight lines or channels to forecast future of financial instruments. Trends are not linear, trends are exponential.
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First resistance is 6.90, and it will consolidate there. Once break 7.17 it next target will be 8.75 and 9.60
@sonerta, BULLSHIT! TREND IS UP SINCE 1923 WHEN REPUBLIC ESTABLISHED.
sonerta
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@Bombacimulayim, so what? trend is upside but for which period? cost of a long position in USDTRY opened 1 year ago is nealry 8.68. And the cost is increasing day by day. What do u expect bro? Do you still keep open the long positions? Do you think you will be able to beat 8,68 before your cost reaches much higher levels?
Staying at long position at that pair is not rational anymore. Swap market is mainly being controlled by central bank. Only some flash crashes can be seen at asia market, but not sure if any small invester can catch, before their capital melts down.
Theworldisflat
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@sonerta, I know and understand how exotic pairs play in financial markets. You looked at my graph and you said "hass bro". Price was 5.20 when you said it, and price is 5.78 now. You would get about same interest income in that time frame and it wouldn't worth to invest in this pair. I have only illustrated my expectation in the long term that bull market started in 2013 would continue in next years and that s what is happening. Read my comment right below the graph I wrote a year ago " Expecting USDTRY to end correction around 4.80-5.00 and consolidate there for a while and start a new rally in 2019." and realize what really happened.