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Even if the cartel effect of OPEC drops considerably, I think it is too early for a short position. If there is a fall of 70 bucks, I will look for a long position oppurtunity. After shorting the orange trend line for short, the medium term target is written. I think short positioning will not start very quickly. Places where the simple moving average is 25> 99,...
BULLISH WOLFE : On bullish wolfe targets change with time :
STOPLOSS : When price intersects RED line . (or ORANGE who loves risk)
SELL : When price intersects GREEN line.
Hardest resistance : 16000
RSI DIVERGEANCE : A small RSI divergence which i draw black on price and rsi chart.
NOTE :It will not update. This analysis only a formation...
One of the most common mistakes is to evaluate the trend with today's prices. Trend lines should be extended on the same slope and prices should be monitored.
The Turkish Central Bank succeeded in pulling down the giant Bullish Pennant's Pennant a little but the orange channel had to be broken down and the closures must be under the channel in order to escape...
This is oldest most rooted Turkish bank's shares' 1M dollar based graphic. It is not necessary to draw wolfe formation because all new tops smaller than old tops. The dollar-based price of the stock is expected to increase by 20 percent. To be eligible, the Turkish lira must appreciate 20 percent against the US dollar within a few months, or the value of the...
One of the most powerful favorite industrial brands' shares of the Turkish stock market was the matching of the wolfe formation, the utilization of fibonacci correction levels for the purchase and the determination and sold of the sales area by the wolfe formation.Unfortunately the opportunity has already escaped months ago.
In the long run, USDTRY is under the influence of the rising trend and we support it when we combine wolfe 1 and 4. But the formation of resistance and consolidation zones can keep the investor waiting. On the other hand, So the value given to 0.618 is ideal for me to first sell or gradual sell .
I guess it is nice chance to observe double bottom patterns. 1 major and inside 1 minor double bottoms inside GBPTRY:
Minor double bottom's target is 4.60s
Major double bottom's target is 4.70s
I can't say volume getting higher but volume is always higher than double bottom existed.
ADX says it is a trend exist in GBPTRY but DI - is still strong so i can't...
Sorry for my Head and Shoulders analysis completely wrong i cant delete it .First of all, the downward trend has to be passed completely. RSI is weak now too.If USDTRY can break MA20 too, we must do other technical analysis.