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USDTRY

ridethepig | USDTRY 2020 Macro MapWith the year almost up, a good time to update the USDTRY chart. Smart money has been tracking Turkish rates, the short end has been screaming weakness and markets not interest in any more BS with the dictator in charge. S400 remains a thorn in the shoe and blackmailing to close NATO bases is leaving a nasty aftertaste. For those who have been tracking the previous swing, the underlying Lira weakness is set to continue over the coming years with an eventual grind towards the widely tracked 7.8xx target since 2018. Expecting markets to remain on the back-foot as long as Erdogan remains at the helm, this will dislocate from the USD devaluation as simply the TRY side is far weaker... all short and medium term flows will lack follow through so targeting 6.00 in Q120, and 6.50 in Q420 seems reasonable. For those really wanting to stick the knife into the bearish TRY story 7.80 in 24m. Thanks for keeping the support coming with likes, comments, charts and etc. And as usual the comments are open for all.
Long
by ridethepig
5
USD/TRY SHORT IDEA - PULLBACKThis trade idea is for demonstration and educational purposes only and does not constitute a signal to enter an order. As we look at this pair, we see that price exhibited a strong break to the upside out of a bullish pennant as noted. Price is approaching a key zone in the market. According to market structure we can expect a slight pullback. As I study this pair, I am watching price action around this key zone as noted for indication that price will reject this zone. In the open of market this week, I am looking for price to exhibit a bit more bullish movement towards the key zone as noted. After which, my inclination for this pair is that price will pull back to at least the lower key zone as noted before continuing up to higher highs. This zone also offers trendline confluence. Again, please note that before entering a sell we want to watch price action around this key zone for indication that price is rejecting this key zone, and pulling back. If rejection does not occur, this idea becomes invalid. This pullback idea offers a possible 100-125 pip move. Please like and follow this post for updates.
Short
by mrsceleste
USDTRY Technical Analysis (Crab Pattern)Hi All, This is not investment advice.. Each bar is one month.. the most important resistance is 6.21x independent crab pattern if the price breaks this resistance I will not care anything apart from AB=CD (miminum level) TP1 AB=CD 6.56477 If the crab pattern works, AB=CD (level) is minimum requirement ----> 6.56x ( if the price action does not reach this target , pattern is invalid ) TP2 1.27AB=CD 6.86713 TP3 1.618AB=CD 7.25403 Terminal Bar 1.618 XA= 8.28x Potential Reversal Zone is between 1.618XA and 1.902XA ) 3.618BC=8.33 1.902 XA = 8.845 Flag target = 9 Good luck
Long
by bariscoskun
PENGUINS PLAY WITH TURKEY THIS TIME:) USDTRY 7/12/2019Hello Traders! We would like to show you a game... While Penguins are on the hunt, you can easily join them as well! It is easy, all you need to do is to collect the hearts and watch for the pig and thunder signs. Targets are marked on the chart as a crosshair. Heart in the box - a place to jump in/out Sign with exclamation mark - places to be aware of a few different types of reactions from this level Target sign - the first target to focus on Thunder sign - spot to react - possible jump to push into reversal Penguin - expected direction Have fun with it, and remember - this game is about the patience. Keep yourself cool, whilst not being greedy. Like it if it was helpful to you. We appreciate the likes and comments. Provided feedback helps us with the future service. Got questions? Feel free to PM us! Thank you for your attention, GOD BLESS U ALL!
by Snipers-Academy
2