See chart for illustration. Lower time frame speculation coming soon as price action is monitored
See chart for illustration Lower time frame speculation coming soon as price action is monitored
USDTRY H&SH If u think this analysis can be useful leave like &Comment !!
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...
Hello dear Turkish Lira traders, merhaba arkadaslar! ;) Let's have a look at our previous analysis from August 11th: => We perfectly bounced of from the support. I had already posted about the Weekly tightening range on August 3rd: Conclusion: This tightening will see a break coming in the coming months, and will dictate the bigger timeframe direction of...
TRYUSD (Reverse of USDTRY) Starting from 2014 : There have been 3 similar cycles. All cycles starts with a reverse cup&handle and ends with a sharp fall from the support line that is the bottom of that reverse cup & handle. We are in the 4th cycle now and if it continues like that my prediction is : On January 1st : 1USD = 11 TRY
Due to short of cash in Turkey, USD is gaining power against TRY day by day. We can see some small corrections to support of chnanel like 5,78 - 5,80 but the trend is going upwards since 5,50's. Uptrending channel will meet with the resistance at the end of August and than we can see some steep movements probably upwards or maybe some corrections. Until than, I...
We can see on the half hour graph that USDTRY is forming a second pennant formation. We have to wait and see other indicators to support this move such as Parabolic SAR and RSI. Moving average is crossing the bollinger middle band as I'm publishing this. Volume is getting higher in each stick forms. Also bollinger bands narrowed down for a move. Target of this...
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....
We can see an exit from the downward channel. If you want to open BUY it's better to wait on some pullback to border of the channel.
Pattern: Channel Down on 1D. Signal: Bullish since the pattern broke upwards but need confirmation by a "False" Death Cross possibly after a new dip. Target: 5.95000 (the 0.618 Fibonacci Retracement level).