vlad.adrian
Long

USDTRY - Still an uptrend

FX:USDTRY   U.S. Dollar/Turkish New Lira
464 8 10
The weekly chart stands at value
snapshot
. 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,
Reply
17.12.2014
snapshot
closed the remaining (the 2/3 I added)
Reply
You are proven right, congrats. Do you think a short makes sense now from 2,35 as you mentioned above.
Reply
vlad.adrian PRO MetinKadaster
I can't answer this question right now, we'll have to wait for the FED tomorrow.
Reply
MetinKadaster vlad.adrian
What do you think now for 2015 after fed decision?
Reply
16.12.2014 closed the original position
snapshot
. 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.
Reply
03.12.2014 added
snapshot
Reply
vlad.adrian PRO vlad.adrian
this was a 2/3 add, forgot to mention
Reply
United States
United Kingdom
India
España
France
Italia
Polska
Brasil
Россия
Türkiye
Indonesia
Malaysia
日本
한국
Home Stock Screener Forex Signal Finder Economic Calendar How It Works Chart Features House Rules Moderators For the WEB Widgets Stock Charting Library Priority Support Feature Request Blog & News FAQ Help & Wiki Twitter
Profile Profile Settings Account and Billing Priority Support Ideas Published Followers Following Private Messages Chat Sign Out