The chart pretty much explains itself. If the Turkish Central Bank can't interfere at the right time and place, we'll be seeing the Turkish Lira losing even more value and USD becoming equal to 8.70 Turkish Liras in December. Then we might see a retraction just like Bitcoin as the parabolic growth becomes unsustainable.
Back on March 31 of this year I posted this charts below. Unfortunately I had tried to demonstrate the imamate collapse of the TRY and posted the chart of TRYUSD instead of posting the correct ticker USDTRY. As such I marked long TRYUSD instead of Long USDTRY. None the less the comments do not signal bullish for the TRY. it has lost 40% of its value in just days...
We are observing a long-term trend of the depreciation of the Turkish currency. According to the Trend-Based Fib Extension, the 161.8% level is a good resistance and a target for the bulls. At the moment, USDTRY is pressing its ATH and consolidating under it. I expect an impulse breakout and a continuation of the uptrend. Best regards EXCAVO
This my USD/TRY ideas. This was the trend I followed for Turkish Lira's
The direction of USDTRY it will try to stable above the resistance level to continue their upward trend . Upward above 9.47 Target.: 9.54 & 9.61 & 9.70 Sl.:
DXY tepki alımları alsada genel dxy trendi aşağı yönlü. Dolar tl paralel kenar üst sınırlarını test edicek ve kritik bölgede bulunmakta eğer kanal üst sınırlarından tepki yemesi halinde 1w/1mo. sfp oluşturabilir ve kısa-orta dönem düşüş trendi başlatabilir eğer kanalı yukarı yönlü kırması halinde bir başka s/r flip gerçekleşecek ve parabolik gitme şansı var....
Usd turkish-lira after getting the record price and can make some stability at here so i think will make a retest to down and then will try to continue their upward. —— Downtrend Entry: under 8.85 Tp.: 8.79 & 8.74 & 8.65 Sl.: 8.93 —— My previous idea about USDTRY : in the below.
How to Calculate Andrews' Pitchfork Andrews' Pitchfork can be easily applied to price charts without a specialized drawing tool. Point 1: starting point of uptrend or downtrend. Points 2 and 3: reaction high and reaction low in the uptrend or downtrend. Point 1 = starting point of median trend line. Distance between Points 2 and 3 = channel width. Draw and extend...
I'm waiting for USDTRY parity a fix soon. this is my idea, not recommended.
USDTRY the price faild to stable under 8.46 and now will get the 8.61 —— Tendency: upward Entry: above 8.46 Tp.: 8.61 Sl.: stable under 8.46
It broke 7.26 in 92 days and increased by 18%. Until 8.57, it was the same price again after 203 days. If it breaks this place as well, it is not surprising to see double digits.
We caught a great trade from March going long (Profit/Loss Box Remains) I just don't see the economic situation getting better anytime soon for Turkey. I am actually living in Turkey currently, it's a lovely country with wonderful people, food and and and.... I see the break north, on a technical level the "Rising Wedge" pattern illustrated. Keep on...
Watch for breakout. Target 9.00
As we can observe the higher lows into the Resistance that signifies the strength of the trend THE PRICE WILL KEEP RISING
Timeframe on 4h: In previous idea we said the turkish lira will be destroyed and will get the 8.41 then 8.53 till now breaked 8.41 but now we will wait to get 8.53 1.Stabilize Above 8.3800 will get a new price upward 2.Stabilize under 8.3700 will get down till the channel
Timeframe 4H: Above the channel will get 8.388 Under the channel will get 7.740
i think in this summer xrp is 4 dollar. NFA!