As the $NZDJPY trade is well on its way (although, we are not assuming that it will reach targets, but only that we are moving along with the probability that it would do so - See its analysis and step-by-step developments here: ), we are now turning to another potential short.
Whereas the $NZDJPY was heavier on basic technical conditions (Fibonacci levels), as well as a few occult geometric concepts (nodes, nodules ... Feel free to Google these terms, as well as E.A.G.L.E. if you like to discover these concepts), the case of the $USD vs. $TRY is a bit more involved and complicated, since we are looking at the Geo .
What I would like to do here is to raise a few challenging questions, and after a few minutes, provide a simple and logical answer within the thread, hopefully keeping things as simple, linear and interesting as possible.
I am not interested in being right. I simply follow the rules that I have defined for the Geo , and I stick to the rules that are imposed by the developing Geo . It's that simple. There is no opinion, just objective data which you too can assimilate, ingest and regurgitate. Yum.
Let's start with a BLANK chart of $USDTRY ...
See you below.
Predictive Analysis & Forecasting
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Remember the "Tolerance Lines" discussed during the construction of the Geo?
Well, Here is a great illustration of their real purpose in a geometry invalidation:
This means that we are done with this one and are moving on.
This is one important concept in the development of the Geo.
Simply put, there is a discreet development of a "path of least resistance" that is developing along the 1-4 Line, which is best defined using an anchoring reference along the way, which I have called the "Geo Anchor".
Here is the possible (not probable) "Tunneling" development:
... And here is the Geo Anchor I have used as a probable confirmation level (green star):