vlad.adrian
Long

USDTRY - Still an uptrend

FX:USDTRY   U.S. Dollar / Turkish Lira
464 8 10
The weekly chart stands at value . The impulse is blue, which means the selling is over.

The daily chart shows some testing and retesting, I have explained it on the chart. The impulse turned green yesterday, and I bought at the current price.

If at the previous high, 2.3, I will see a bearish setup, I will exit my position and consider shorting. If however, there will be only slight wobbling without serious bearish implications, I will keep my position till the previous major high is reached at almost 2.4
Turkish Central Bank decided to not react against the rising USD. After FED announcement, it looks like hanging between 2.30 and 2.35.
If the parity will pullback to 2.30, it would be a nice area for Buy orders.

Cheers from Turkey,
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17.12.2014 closed the remaining (the 2/3 I added)
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You are proven right, congrats. Do you think a short makes sense now from 2,35 as you mentioned above.
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vlad.adrian MetinKadaster
I can't answer this question right now, we'll have to wait for the FED tomorrow.
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MetinKadaster vlad.adrian
What do you think now for 2015 after fed decision?
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16.12.2014 closed the original position . I have left on the table only what I added. The CRB raised the interest rate to 17%, which means they are very panicked. There is no way to know how the Turkish central bank might react.
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03.12.2014 added
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vlad.adrian vlad.adrian
this was a 2/3 add, forgot to mention
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