We can get a long trade if the price close
above strong resistance channel at 5.8600
TP2 : 6.2000
stop lose : 5.7800
If the price breakdown upward channel
we can get short trade or wait for new
long trades from
5.64500 and 5.5100
with small stop lose
This is not an investment recommendation or any call to buy or sell
It is just an...
Market is approaching significant resistance
Weakening bullish momentum
RSI overbought + divergence
Head and shoulders pattern formation
Wait and sell breakout of the neckline.
Targets are based on structure!
Please, check my signature!
=> 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...
As fundamental aspect ,there is no chance for TURKISH LIRA (TRY) to win this battle.there were election in turkey couple days ago and it had a massive effect on the country because the party that does belong the president(Erdogan) lose the election who doesn't like and want that and the instability already have started.
I indicate the Eliot wave clearly...
Some thoughts on Turkish Lira:
- Year long accumulation is over
- Volume is picking up
- Weekly bullish order block/demand zone retested
- Forget hitting Targets, I think we are in the game for price discovery
- Clean downward break thru demand zone and close below may invalidate current PA
Of course not financial advise. DYO Home work.
Almost six months after the rate hike which pushed Turkish interest rates to 24%, the Turkish Central Bank wants local banks to use one of two more expensive funding windows, standing at 25.5% and 27% respectively, as it suspended one-week repo auctions for an unspecified period, as it announced on March 22. The announcement came less than a year after the Central...
I create a Fibonacci line. We on the support line and we have to ready long position.
- Bull trend
- Turkey economic and politic problems (First and the bigger problem is RTE)
- Turkish lira is very useless and powerless
- Turkey Central Bank thaw reserve
I do not do position trading that lasts months and months do not count on me to update on this (might have if we still had unlimited leverages but now I can't have 30% of my capital with 1 broker just waiting for a 6 month or 2 years move).
The fundamentals have no changed, at least they have not gotten better.
Looking like textbook market cycle, because it...