USDTRY formed a cup and handle formation on the weekly chart. Stoch RSI is oversold both on the weekly and monthly charts.
I expect the price to increase up to 6.84 in the coming months. First major resistance is at: 6.33
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...
based on where dollar will top out i will revise my count on the way we may need to add a combo wave to the count just in case it does not see a reason to correct after 5th wave. i believe getting in positions 5.70 between 5.90 is a good deal to long . targets are above play safe tarde smart. this is not financial advice. yatirim tavsiyesi degildir.
welcome to another free signal!
Important: Market still very nervous! Please don`t risk too much and reduce your risk when I update! :-)
You can either place a BUY-STOP for aggressive trading or wait for a retracement after breakout to place a Buy-Limit.
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*
*Not a trading advice. I hope I will be wrong.
In 15 minutes is Central Bank meeting in the Republic of Turkey!
If the TCMB leaves the interest at 24% or possibly lowers it then threatens in my view, a rapid devaluation with new highs from the perspective of the USD / EUR or new lows from the perspective of Turkey.
I have prepared the following Trading plan.
If 5.9066 fall then new highs are very likely and I...
We can get a long trade if the price close
above strong resistance channel at 5.8600
TP2 : 6.2000
stop lose : 5.7800
If the price breakdown upward channel
we can get short trade or wait for new
long trades from
5.64500 and 5.5100
with small stop lose
This is not an investment recommendation or any call to buy or sell
It is just an...
USDTRY 4H Sell and Buy Setup
TP3: 5.71000 -5.7000
This is not investment advice
Obviously I do not use sl , adjust according to your own account