The USDTRY pair has been rising steadily since the December 2021 drop. The RSI on the 1W time-frame has formed a pattern that since 2013 at least, paved the way to very aggressive pumps. Technically the next wave is about to start and shouldn't retrace before it hits the RSI's Higher Highs trend-line. Based on the pair's Higher Highs trend-line, the next top can...
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I shared the necessary information on the chart.
He made 3 peaks 2 times and had a correction.
It is useful to be careful after this point.
He can make the last 3 hills and go to the big correction.
This analysis is not investment advice.
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Pattern: Channel Down on 1D.
Signal: Bullish since the pattern broke upwards but need confirmation by a "False" Death Cross possibly after a new dip.
Target: 5.95000 (the 0.618 Fibonacci Retracement level).
Pattern: 1W Channel Up.
Signal: Bearish once the price makes a Higher High.
Target: Around -10% from where the Higher High is made.
*If 6.22990 breaks, close and wait for a new (quite possibly more aggressive) bullish pattern to trade.
