=> For those who believe in the bearish Turkey story, yet again we are at significant value areas for USDTRY longs. The 5th wave we mentioned in our previous idea can be seen clearly here and shows how the floodgates for 7.80 are wide open.
=> From a technical perspective the 5th wave target, the first major target is 6.78 (assuming wave 5 is a 1.00 ratio in length of wave 1).
=> Given the nature of this rally so far there is a very large chance this can extend well beyond the initial targets as far as the 2.168 extension at 7.80.
=> It is also worth noting for those following EW that the 5th wave usually marks new highs... confidence in this view will increase above 5.60 so for those wanting a less aggressive entry you can sit tight and watch closely and good luck to those wanting to pull the trigger early for the move of 2019.
=> This is going to be a monstrous move and worth tracking for those interested in watching the EM collapse continue.
=> From a technical perspective the 5th wave target, the first major target is 6.78 (assuming wave 5 is a 1.00 ratio in length of wave 1).
=> Given the nature of this rally so far there is a very large chance this can extend well beyond the initial targets as far as the 2.168 extension at 7.80.
=> It is also worth noting for those following EW that the 5th wave usually marks new highs... confidence in this view will increase above 5.60 so for those wanting a less aggressive entry you can sit tight and watch closely and good luck to those wanting to pull the trigger early for the move of 2019.
=> This is going to be a monstrous move and worth tracking for those interested in watching the EM collapse continue.
Comment:
Smells like a big move cooking here.
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We are moving!!! +2% today!!
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5%!!!
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First targets at 6.1537 in play here today for FED positioning.
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6.1537 target reached !!!
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Bulls taking 6.1537 for the open will be disastrous for Turkey
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Usual suspects bidding the open ... 6.1537 resistance turning support
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As usual...
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Decent profit taking underway after clearing the 6.1537 target.
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👀 on 7.80x
Trade closed: target reached:
Final targets hit!
