Last time MA50 crossed MA100 upwards @ 15.02.2019. Same thing possibly will happen today. Downtrend trend upper line broken. Weekly and monthly over-sold SL:5.63 TPs:Depicted with light green.(Take into account fibo resistance levels also.) Good luck
USDTRY Parallel channel / wedge ! If u think this analysis can be usefull leave like&Comment !!
USDTRY, Uptrend forming=> BUY H4: - Structure: uptrend - Tendency: Upward - Price: Moving above support and trendline - Waiting signal in support => BUY Plan: - Reversal candle: 5.620-5.600-> BUY - Target: 5.743.
BASIC TREND FOLLOWING ON USDTRY WITH BUY&SELL POINTS
Turkish lira look like to depreciate up until 6.79 area if the H&S pattern develops. Still needs to clear drawn trendlines.
2019 - 480 Consecutive WINNING Trades $82,000+++
Due to Turkish holiday TRY will be traded weakly until Thursday. At these times, values can be more volatile. We can clearly see the bullish pennant formation on USD/TRY. Tomorrow we have to carefully watch the value. If it will break the pennants resistance, value may go up to 5,62-5,65 channel. We can see that there will be a steep movement from the narrowed...
Admittedly, I've not made a good call on the Lira so far this year. Fundamentally the Lira is way overvalued at ~5.60, it's probably overvalued even at $6 but the CBRT has found clever ways to prop up the currency through swaps (and a billion or so in borrowed Yuan). all that said, the algo is signalling long here, so I'll be taking a smaller position to balance...
USDTRY intraday trend channel, support and resistance levels. Check the volume spikes for breakouts and reversals. FX:USDTRY
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usd/try 15min U.S. DOLLAR / TURKISH LIRA 15min
Hello dear USD/TRY traders, merhaba arkadaslar! ;) The USD/TRY has arrived at the previous important S&R zone of 5.45-5.50. We should see a bounce going on from here, even if it's only short term. If not, previous lows at 5.15 will be activated. If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis...
I am mainly equity guy, but from time to time a do trade FX, and there I have my favourites such TRY, NZD, AUD. Right now, my position is closed with +S/L, but I will take a closer look today to find the entrance for a new one. For me, MA200 remains strong resistance area , and this new trade will most likely have a T/P near Fibonacci 0.5 lvl . I will wait to RSI...
The price is near border of the Range Channel. It can bounce and rise up. Potential profit will be in 3 times bigger than risk.
As the Lira strengthens to 4-month highs, the bulls may come back in depending on how sensitive this level is.