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USDTRY

#USDTRY LONG.. We have been observing a horizontal trend for a while in USDTRY.. In the four-hour chart, we see the ascending triangle pattern.. The falling wedge pattern is clearly noticeable in the RSI, and if the pattern works, the upward price movements may harden and the peak point of 7.20 can be tested.. Also; I think the reference values (54) and (45) in RSI are very important in the short term, these values ​​can be considered as an important indicator in terms of price movements.. Moving averages (ma5, ma8 and ma13) and gator are about to return to positive, it seems highly likely that the correction wave will remain short again.. My personal opinion; In the direction of price movements in USDTRY, the impingement will show a sharp upward break after a while and 7.20 peak point will be tested in the near future.. Disclaimer: Not investment advice.. Please do your own due diligence when it comes to forex-trading.. Invest at your own risk.. I wish you all the best..
Long
by OguzhanSengor
The Basics of a CandleStick (for Beginners)Candlesticks represent where price action opens and closes in a given time period.For example, when looking at a 1HR timeframe, each candle will represent 1HR of price action and also show where the opening and closing price of that hour was. Green candles show buy pressure Red candles show sell pressure. The larger the candle, the more variance in price action. Wicks are the thinner lines above and below candles that show where highs and lows of price action has reached during the timeframe of a candle. Wicks on the upside represent the highest price it was traded for during that time. Wicks on the downside represent the lowest price it was traded for during that time. Keep in mind that these wicks can be on both the upside and downside of a candle at the same time. Remember, the top wick is the highest the price was traded at, the bottom wick is the lowest that it was traded at. _______________________ THIS IS PERSONALLY COPYRIGHTED MATERIAL. No part of this book may be reproduced or used in any manner without written permission of the copyright owners except for the use of quotations in a book review.
OANDA:XAUUSD
by TayFx
Textbook Double Bottom: Execution (Education, Example)A double bottom is simply the opposite of a double top . This pattern normally occurs during a downtrend and is a signal of a reversal of the downtrend toward an uptrend. It’s easily recognizable by its resemblance to the letter “W”. The initial downward move will find a support at the first bottom and then the price action will rally off the support to a temporary new high (the middle of the “W”). Another selloff will often take place that will reach the same support level of the first bottom, consequently sparking another upward rally. The trend is confirmed when the price breaks through the upper resistance to complete the pattern and reversal as displayed below. These are the most basic pattern structures of double tops and bottoms that you’re likely to come across. ( cont in our course) Copyright 2020 No part of this book may be reproduced or used in any manner without written permission of the copyright owners except for the use of quotations in a book review.
TVC:DXY
by TayFx
2
#USDTRY ANALYSIS.. ABOUT THE MARKET CYCLES.. I think it is quite meaningful to analyze #USDTRY within the framework of market cycles rather than classical technical instruments.. From my point of view we are very close to the part where USDTRY will experience sharp increases in the market cycle.. If we approach the daily chart from a wide window, we can easily see that very similar movements are repeated in #USDTRY.. I expressed in the graph the movement I expected to be in the medium term.. In particular, I think that we are entering a period in which the dollar will grow stronger on a global scale and the results of this will be bad for the currencies of developing countries.. Disclaimer: I am not a financial advisor.. Please do your own due diligence when it comes to forex-trading.. Invest at your own risk.. I wish you all the best..
Long
by OguzhanSengor