The structure in USDTRY looks increasingly like 1-2-1-2, which means that a very powerful and unexpected (as usual) spike in 3-of-3 should begin in the next few days.
The market will not give a third warning. When 1-2-1-2 is completed, the big move is imminent and it usually does not take prisoners. At the end, everyone will be blown away as to how far the Lira has crashed. I am convinced that 16-20 is the end target.
If you have any Liras left - do take action urgently.
@Obadafarajalla, there is not much to analyze any more there: the market is waiting for a crash, which will happen once Q1 results are in. The key to the global crash will be the crash in Treasuries, the 10Y yield will skyrocket to 4..5%, causing a massive run into the Dollar and into the Yen. USDRUB is just waiting for this crash to happen, when it begins, 140 will be reached easily, and USDTRY will move to 16-20 at the same time.