nothing settled. erdogan knows before its decreased and what he represented to public is useless. now everyone will buy dollars again
peterbokma
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@berkizildag, you misunderstood my statement. By settled I mean that the downside pressure has been reduced, i.e. the pair is more settled in terms of the sell pressured that happen. For that reason it's buying mode again, but only for short-term. The LONG TERM status has not been altered significantly.
interloperxx
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Yes, I agree with you that its uptrend for USDTRY again. I still cant believe how FAST happened last dump and why I did not make any money on it. Deep regret here.
bedevi
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I’m not a trader since i hold this currency since 3.50s without selling one single penny. I followed all your comments during lira depreciation and i have some words for you Peter. You have claimed that charts have all fundamental. According to the latest calculations, we understand that central bank has sold 14B and manipulated market saying people appreciated the new bullshit saving account . This is what you called “fundamental”. So peter tell me, what kind fundamental can contain central bank manipulation? How does your nonsense chart analysis predicted 14B intervention? Clearly Central Bank of Turkey has became biggest pumper among the all financial institutions by stealing people’s savings. They were just trying to survive against inflation. AND obviously your role is unforgettable in this pump and dump operation. Sorry but it seems your are a true bloodsucker of this corrupted system. These were my thoughts about you and you can continue to make your immoral comments on usdtry.
Trendoscope
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I am curious!! Why everyone is so interested in playing reversal when the momentum is so strong!! When going up buy and set stoploss. When going down short and set stoploss. Trying to time the reversal does not make any sense!! This can keep going down so much before shooting up again!!
peterbokma
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@HeWhoMustNotBeNamed, I guess depends to the strategy. those trading for quick movements or those looking at the longer picture...some are contrarians and others are trend followers etc... as long it works for each individual... tc
Trendoscope
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@peterbokma, It's perfectly fine to be contrarian or trend follower. But, there will be time to play reversals and time to play trend. When the market is choppy, reversals provide better returns and when the markets are trending, trend following is better approach. From what I have seen, those who like to play reversals or be contrarian will pick assets which are tend to be choppy. But, with respect to TRY - it does not make sense. Well, anyway, agree each to their own.
baypinar
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The roller coaster is rolling on. I believe it will be a slower rise this time, though.