Expecting bullish trend continuation to the upside...
The devaluation of the Turkish (new) lira continues to the fullest and shows how strong a current wave 3 is within the impulse wave. The confidence of the own population in the monetary policy decreases more and more and even interest rates on 2-year government bonds of just under 20% and 17% on 10-year government bonds as a foreign investor do not compensate for...
USDTRY has been in a downward parallel channel. Going short at following preferences: Short: @ 5.4995 TP: @ 5.0944 (+4000 Pips) SL: @ 5.5707 (-764 Pips) RR: 5.24
First of all, i expect a jump to B point which is 5.516 then i will look for a sell opportunity to aim C point which is 5.435 for my sell trade. (Also i see some hidden divergence at macd histogram and signal line on 4h chart which supports my trading idea.) When the elliot correction waves are totally finished at C point(which is our profit target), new rally...
FX:USDTRY / Support Channel & ABCD Don't forget to use %2 Risk Management DISCLAIMER: Please note I am only providing my own trading information for your benefit and insight to my trading techniques, you should do your own due diligence and not take this information as a trade signal.
FX:USDTRY / TECHNICAL CHART Thank you for support and likes. Feel free to comment below.
USD/TRY still hasn't found a strong support and thus, a move down further below is possible.
Most Possible Scenario for the short-medium term We are out of Bollinger bands , the USD/TRY overperformance might be over for some time. Probably a short to medium term top. USD needs to consolidate before continue the bull run. In the mean time, BIST 100 , while USD is resting will try to push for 100.000 level as a first step. Turkish manipulators will use that...
If you remember the date of 23-05-18, the central bank of Turkey had made committee decisions, the Turkish lira gained about +8% and USDTRY was decreased about -8%. The history repeats, the meeting will affect a decrement upon the value of TRY positively on 24-07-18. However, at that time, if the USDTRY sees the 5s then we can say these conditions as I said. Now...
According to Bump and Run Strartigy ,We enter short
Historically USD against TL , if at the major top, it will dramatically drop back and can not hoover around the top. Hovering close to top is a sign that USd is forming a continuation pattern, probably a symmetrical triangle. Long term bulllish on USD/TRL
I told you on the LONG trade to close or at least reduce position at 4.75 and I was thinking about opening a short at that stage as it was struggling at that resistance. It seem to be now at the top of a consolidation channel. We have a few signs of the price heading south the EMA cross over, volume decline, RSI cross over and the consolidation channel forming...
Either it continues its crazy bull run that shows up on Daily/Weekly and Monthly Chart, USDTRY is to pullback at some point, a descending triangle setup on 4H & 1H chart is forming. Now it can either be the reversal pattern that will give us the pullback or it will just be the continuation pattern of that crazy bull run. I let you G O O O G L E for the probability...
We will see around 4,20 record level in few days, after that there must be a down trend to 4,10 for taking a breath. After that I am expecting 4,35. Let's see how it will goes..