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...
Price broke out a strong resistance trend coming from the top and is diverging. Now we can look for correction before buying USDTRY.
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Trade with care!
Last time MA50 crossed MA100 upwards @ 15.02.2019. Same thing possibly will happen today. Downtrend trend upper line broken.
Weekly and monthly over-sold
TPs:Depicted with light green.(Take into account fibo resistance levels also.)
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...
READ THE MARKET COMMENTARY IN THE CHART CAREFULLY...AND TRY TO LEARN THE ELLIOT WAVES...OTHERWISE ITS TOUGH TO UNDERSTAND MY ANALYSIS
All information given inside the chart and i shared this for educational purpose only. Maximum i wont give the followup or update in the old chart posted as educational trade idea, sometimes i will...so please...
We can see that pair is in overall downtrend and currently retracing back towards trenline above the price & is supported by minor uptrend ascending trendline...
Currently we can look to buy with support of ascending trendline , and after we will be waiting to see if price breaks above the falling wedge pattern or breaks below ascending trendline and providing...
Due to Turkish holiday TRY will be traded weakly until Thursday. At these times, values can be more volatile.
We can clearly see the bullish pennant formation on USD/TRY. Tomorrow we have to carefully watch the value. If it will break the pennants resistance, value may go up to 5,62-5,65 channel. We can see that there will be a steep movement from the narrowed...