Our risk / reward ratio is 0.28 in the first field and 0.09 in the second field.
There was a close above 5.84.
Long positions can be tried in small lots.
However, losses can be a bit high since the bar cannot be sure without closing, so stoploss should be placed directly at 5.81 or 5.84.
Our sales level for the first area is 6.095.
If the first area breaks down,...
I drew the main channel on KST. Must watch carefully.
The upward reaction would be much more severe, but the downward reaction should be evaluated.
If I see anything about it, I'm gonna give url to the new idea under this area.
=> 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...
TRYUSD (Reverse of USDTRY)
Starting from 2014 :
There have been 3 similar cycles.
All cycles starts with a reverse cup&handle and
ends with a sharp fall from the support line that is the bottom of that reverse cup & handle.
We are in the 4th cycle now and if it continues like that my prediction is :
On January 1st : 1USD = 11 TRY
Turkish lira started its downtrend rally and will drop to 600 against USD. One of the main force of Turkish economy is tourism and as touristic season is over in this county and foreigners are spending less money - local currency will drop a bit. Also the second argument is Turkeys plan to attack Northern Syria, which is a huge damage on financial and currency...
-EURTRY short term RSI (H4 chart) is in oversold zone
-The price is at support level
-Long on short term and close near 6.37
-The best place to entry short position is near 6.37
-The short position is good for short and long term too.
-In long term the price can go completely to February low near 5.9
The USD is strong against the Pound Euro Yen Yuan, but this is only because they have been devalued so much.
Turkey did not immediately go into a collapse, as usual investors have overreacted, now that I think of BTC it is the opposite where they undereact to every thing and happily let whales dump and they hold until they have nothing left XD.
The Lira went way...
Hello dear Turkish Lira traders, merhaba arkadaslar! ;)
Let's have a look at our previous analysis from August 11th:
=> We perfectly bounced of from the support. I had already posted about the Weekly tightening range on August 3rd:
In my previous analysis, I have shown that the range of 5.45 - 5.50 may be suitable for purchase. Starting from this point, our exit target, which dragged us to the range of 5.75 - 5.95. The first target of the wave we are in is 5.76 and the resistance line you will see with blue in the chart makes these points suitable for sale. I will make my first sale around...
Because of Turkey Political Risks and Central Bank Movements TRY value is decreasing against USD. Technically 5.83 is the critical level and it should be followed. Short can be tried in there with close stop. If this level breaks long can be open.
The pair was seen trading at the tip of the “Falling Wedge” pattern and was expected to continue going down in the following days. The 2016 failed Turkish coup attempt started the end of the relationship between the United States and Turkey. The coup was led by U.S.-based preacher Fethullah Gulen within the Turkish military. Three (3) years after the...
Hello dear USD/TRY traders, merhaba arkadaslar! ;)
The USD/TRY has arrived at the previous important S&R zone of 5.45-5.50. We should see a bounce going on from here, even if it's only short term. If not, previous lows at 5.15 will be activated.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to...