Symmetric Triangle + Cup&Handle Formation - Graph is tighteningSymmetric Triangle - with forming a higher low as cup's base.
Cup&Handle Formation - if it closes the handle, target is 7.50.
I think it will break up finally.
Bullish.
LongUSDTRY
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USDTRY : SHORT (TF = 4H )USDTRY parity is just below the resistance, I think this parity will rise in the long term.
But here we are in a profitable region as a risk / reward ratio, I think it can be tried with very small position sizes.
Recommended parameters:
RISK/REWARD RATIO : 1/2.86
POSITION SIZE : % 1
STOP-LOSS : 5.72875 (Close over this level )
GOAL : 5.58257 ( Minor support of USDTRY 4H )
Short
Long
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Watch for breakout ons USD/TRYWe have identified a triangle in FX:USDTRY that is meeting all criteria:
Shape :Triangular. Prices move between two converging trendlines.
Trendlines : Two trendlines bound prices; the bottom trendline slopes up and the top one slopes down.
Crossing : Price must cross the pattern from side to side, filling the triangle with price movement, not white space.
Touches : Price must touch one trendline at least three times and the other trendline at least twice, forming distinct valleys and peaks.
Trading tips:
Compute the height from the highest swing to the lowest swing in the pattern. Add it (upward breakouts) or subtract it (downward breakouts) from the breakout. The breakout starts with strong price action.
Usually, pullback leads to a losing trade.
SELL USDTRY 1HR #mkapaSELL USDTRY 1HR
www.bongoforex.co.uk
FX:USDTRY
Tendency: Downtrend = trendline
Pullback - retest - breakout
Short
Sell USDTRY 4HRSwww.bongoforex.co.uk
FX:USDTRY
HINTS:
TRENDLINE
PULLBACK & RETEST
FIBONACCI RETRACEMENT
Short
USDTRY 4hr 0.618 and supply zone combination carry trade!USDTRY pulled back a little bit after testing the previous low,
I'll be waiting for the 0.618 spot around 5.8400 to open some short and put the out above 5.8700.
Let's see how it goes yo!
Short
Bullish Pennant Over Weekly 50maBullish pennant will be broken until 31 December. Market will decide the way. Lira had spent enough time to heal the manipulation of August 2018. Now the time is up
Weekly MA(50) is a strong support to broke. Lira never broke 50 MA powerfully to stay below it for long time
Buyers seem more powerful. Please check HL1 and HL2 . They can't wait to buy for a lower price
TP1 : Fib 0,618 (6,01 TL)
Pennant pattern have many "buy" orders over 5,90 . when it will brake, it will reach to 6,01 instantly. Some will take profit at 6,00. So the price may test 5,92 . but i dont think price will see 5,xx again forever
TP2 : Fib 0,786 (6,24 TL )
Buyers of 5,92 and 6,01 will sell off and take their profits at 6,20. so it will take few weeks between 6,00 and 6,20
TP3 : Fib 1,00 (6,54 TL)
After some bullish trend lines shaped in chart, bulls will buy at every retracement to test 6,50
Long
USDTRY Weekly analysis Nov 11 - Nov 15Last week USDTRY success break up falling wedge pattern. this is a good sign for bullish.
To follow bullish movement, we can buy at opening market, or wait at 5.7329 at minor support
maximum drawdown for this pair at major support at 5.6813
In this setup, we have 2 target :
1. 1010 pips at fibonacci resistance at 5.8350
2. 1976 pips at doube top resistance at 5.9322
Notes : bearish will perform if major support break down.
Good luck, may profit be with you
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Short
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USDTRY, 30mBuy stop order.
1. Descending trend line crossed above.
2. Support zone.
3. Candlestick pattern.
Long