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).
Just following the system.
Keeping my risk-controlled.
Keeping my targets systematic
Keeping my entries systematic.
And repeat it again and again.
Trading the way, you are supposed to.
Failed trades are a cost of doing business.
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Hello dear USD/TRY traders, merhaba arkadaslar! ;)
The USD/TRY has arrived at the previous important S&R zone of 5.45-5.50. We should see a bounce going on from here, even if it's only short term. If not, previous lows at 5.15 will be activated.
If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to...
USDTRY is active last two days, price has completed abcd pattern and hit the resistance at 5.75 level.
If you buy now, you also buy the risk of the correction. You'll end up loosing money or have to wait more which is basicly the same.
Instead wait for the price to correct itself and pull back to the green zone, then you buy the dip.
If the 5.75 level is...
In my previous analysis, I have shown that the range of 5.45 - 5.50 may be suitable for purchase. Starting from this point, our exit target, which dragged us to the range of 5.75 - 5.95. The first target of the wave we are in is 5.76 and the resistance line you will see with blue in the chart makes these points suitable for sale. I will make my first sale around...
USDTRY / Daily / Technical Chart
Last week I was share this analysis
At 61.8 whcih I mention, bulls enter the market, now price touch to resistance line, and it can break the resistance line with news about Turkey,
Lets wait the news now
We can see on the half hour graph that USDTRY is forming a second pennant formation.
We have to wait and see other indicators to support this move such as Parabolic SAR and RSI. Moving average is crossing the bollinger middle band as I'm publishing this. Volume is getting higher in each stick forms. Also bollinger bands narrowed down for a move. Target of this...
The US Dollar vs. the new Turkish Lira. A new version of the Turkish Lira was established in 2005 after the value of the old Lira fell to drastically low levels. The Turkish economy relies on the foreign cash looking for short term profits making the Lira subject to severe depreciation. Political conditions and EU economic issues have delayed Turkey's effort to join the Euro-Zone.
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