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...
The pair is trading within a Channel Up on 1D (RSI = 62.022, MACD = 0.054, Highs/Lows = 0.0493) since the August bottom. It is currently in the process of pulling back for a Higher Low and that will be our opportunity to buy. TP = 6.1000. Notice how when the RSI turns sideways it denotes a Channel pattern, both on the downtrend and uptrend.
** If you like...
We can take a long buy trade
from recent levels :
5.5730 - 5.6200
TP1 : 5.7700
TP2 : 5.9630
TP3 : 6.1830
Stop Loss : 5.4000
This is not an investment recommendation or any call to buy or sell
It is just an analysis based on a study of the history of price action
Behavior , that may not be a necessarily reason for the success of
the structure or repetition. So...
We can see the head&Shoulder formation hapenning on Turkish Index 100 (Bist100).
Targets of this formation is;
- 99840 and than 99110 relatively.
Increase in the USD/TRY ratio is approving this formation.
USDARS LA SECUENCIA TECNICA DEL DOLAR VS MONEDAS EMERGENTES ESTARIA HABILITANDO NUEVA IMPULSIVIDAD ALCISTA.
EL ESCENARIO DE MAS AVERSIÓN AL RIESGO EMERGENTE PARA LAS PROXIMAS JORNADAS SERIAN UNA CUOTA DE TENSION EN ARGENTINA PARA QUE EL DOLAR TERMINE POR HABILITAR LA FORMACION TRIANGULAR DEL ULTIMO MES.
EL NIVEL CRITICO SE ENCUENTRA EN $58 PARA DEJAR CAMINO...
The price is near Mirror Level 5.63605.
It was a 1-month accumulation in the triangle formation.
So it's possible to see some impulse after the exit of this triangle.
Before to trade my ideas make your own analyze.
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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,...
USDTRY could move a tad higher to complete minute wave 3 near 6.1358 before correcting lower.
Minute wave 3 is part of minor 3, which is part of intermediate wave 3. The latter has projected target near 7.25
Look for a valid breakout above minor 1 at 6.0373!
Should prices move below 5.6343 low bears would gain more control? Early invalidation signals near...
Tendency: Uptrend (Bullish)
Pattern: Falling Wedge/ Flag pattern
Observation: i. Price is experiencing a correction/consolidation since the impulse move in Aug. 2019
ii. After the bullish engulfing candle on the 1st of October 2019; price has corrected...