thank me later.
Watch the price range between Weekly MA(20) and Keltner Channels Middle Band. Also strong Fibo 0.618 level supports the local dip. Lower bollinger band is the deepest possible low where i can go all in. Good luck!
Please note this trade idea is for demonstration and educational purposes only; it does not constitute a signal. This idea is a long term possibility. Given all factors including fundamentals, no one can with 100% accuracy know for sure that long term ideas will play out. We must follow price action. It will be interesting to see how this pair plays out long...
We have troublesome trend in USDTRY along with the increasing annual inflation rate around 48%(According to: twitter.com) I depicted daily golden cross wih gray and local bottom with purple. Resistance or take profit levels are depicted below* 5.97 6.47 6.88 7.29 7.87 8.61 *Not a trading advice. I hope I will be wrong.
Turkish Lira very fragile. 31 March Local Election date for Turkey. I'm waiting for an upward reaction
USDTRY completing C wave larger degree flat making up the B wave of larger degree correction.
No one has a crystal ball for the Forex market, but what we do have to look at is history. Although past performance does not guarantee future results, when it comes to the Turkish Lira’s current situation, history shows some alarming parallels. The patterns do repeat themselves -- and with good reason. The stock/ Forex market is governed by a set of two...
Just prediction nothing more. it is not invest advice
USDTRY a Potential Cypher pattern Time will tell of the opportunity we see, patience is key. Hopefully, you found this helpful! If so please like or comment, your feedback is appreciated!
The previous analysis has played very good. So here is the continuation.
USDTRY - Turkish Lira - Possibility of Uptrend
USDTRY / TECHNICAL CHART
USDTRY staring a sell-off in Intermediate (5) (red) so it can complete Primary C (red) and Cycle Wave IV (green).
From elliot wave analysis, i see that usdtry pair has finished 5 wave structure then started to a-b-c correction. Also at 5,54 price level i see double top formation and during this time, you can see bearish divergences at macd line and histogram so my first expectation from usd/try is to drop around 5,32 price level. Then if inclined support is broken, we can...