For educational and demonstration purposes only. Study purposes only. As we study, we see that Price is being contained within an ascending channel. We should focus our attention on price action within this channel,. Watch for price action. If price does not compromise ascending channel look to buy to key supply zone. If price compromises ascending channel look to...
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I create a Fibonacci line. We on the support line and we have to ready long position.
Because
- Bull trend
- Elections
- Turkey economic and politic problems (First and the bigger problem is RTE)
- Turkish lira is very useless and powerless
- Turkey Central Bank thaw reserve
Em currencies area dangerous game of course, but USDTRY may be one to watch.
With the CBRT likely to cut rates (or else face the wrath of Erdogan...again) and Turkey doing everything in its power to become an international pariah (Cyprus drilling, Russian military equipment purchases) this may turn into a perfect technical set up for a sharp reversal.
Though we...
Hello my dear Turkish Lira traders, Forex friends, merhaba arkadaslar! ;)
Erdogan just let the central bank president Cetinkaya go: He argues that the high interest rates are the reason for the high inflation. But commonly known among economists is that both high inflation & high interest rates are the consequence of a weak currency. Erdogan also shows clearly...
Hello dear Turkish Lira traders & watchers, merhaba arkadaslar!
Let's have a look at our last analysis:
=> We clearly didn't see any follow through on the potential Double Bottom, we broke the lows to the downside.
Now what?
As I had written and shown to you in the last analysis already, we now have a high potential for an Equilibrium on the Weekly chart:...
This idea is for educational and demonstration purposes and does not constitute a signal. If you take this trade, you do so at your own risk. This is simply an idea and not a guarantee.
We have the following confluences:
1. Trendline as noted; price has tested this trendline on now the fourth occasion
2. Price is also sitting at a key fib level 61.8% from last...
This trade idea is a study and does not constitute a signal. Trade at your own risk.
Price is currently forming a bearish flag. I'm looking for two scenarios:
1. Price makes its way to the top of the channel, which would be the 50% fib level from swing high to swing low. I would look to sell at that point as noted.
2. Price may not make it to the top of the...
Hello dear Turkish Lira traders, merhaba arkadaslar! ;)
Istanbul clearly defended democracy on Sunday, giving the counterpart of the AKP, Ekrem Imamoglu, the majority of the votes, even in districts where the AKP had previously a stronghold. Even though Erdogan was not directly up for election, it was a clear message to the government: If you do not count our...
For now WATCH; THIS IS NOT A SIGNAL but education.
Price confluence with trendline on higher time frame. Fib level confluence. Looking nice for a double bottom if plays out. See also linked trade idea below for possible teacup formation long term. Watching for confirmation as always before entering. Trade at your own risk.
Be sure to click the follow button in...
Hello dear FX & Turkish Lira traders, merhaba arkadaslar! ;)
It's been a long time since I've made an analysis to the Turkish Lira : But yet again, we have important elections coming up on Sunday: The AKP didn't accept the outcome of the first voting, which sent the pair through the roof immediately with an Ascending Triangle :
Since then we've been...
Possible bearish pennant formation on this pair. Note possible trend line confluence as well as 61.8% fib level target. Initial bearish outbreak gave us approximately 200 pips. Breakout to target would mirror another 200'is pips. I do believe long term we will see higher prices, but for short term we have to take what the market gives us. This trade idea is for...
