there is a definently cup and handle formation which is the very bullish continuation pattern.
FX:USDTRY OANDA:USDTRY SAXO:USDTRY USDTRY - Intraday - We look to Buy at 5.6870 (stop at 5.6525) Posted Mixed Daily results for the last 47 days. Price action has formed an expanding wedge formation. The medium term bias remains bullish. The trend of lower highs is located at 5.7905. However, with the intraday chart now highlighting higher lows we are...
So far price was loyal to the descending wedge formation, and as expected, 200 EMA held the defense perfectly. Parabolic support also seems to be working. Next step will be conquering the 20 & 100 EMA resistances along with the upper line of the descending wedge formation. All these converged on the same zone (the area shown as faint white box), which made that...
**Disclaimer** the content on this analysis is subject to change at any time without notice, and is provided for the sole purpose of assisting traders to make independent investment decisions, -
This idea is for educational and demonstration purposes and does not constitute a signal. If you take this trade, you do so at your own risk. This is simply an idea and not a guarantee. We have the following confluences: 1. Trendline as noted; price has tested this trendline on now the fourth occasion 2. Price is also sitting at a key fib level 61.8% from last...
thank me later.
take profit -> 6.05 - 6.20 - 6.45 - 6.64 - 6.83 - 7.22
only and only under the 5.55 all ofrising formation will be canceled
If rsi continues up, usdtry ll pass 5.88 at first and then 5.97. Then up trend ll start.
OANDA:USDTRY - Details on the chart. Only word now is "WAIT". Pipdified.
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.