Here are the 2 yellow resistance zones:
If the first is overcome, then rises just over 91.
For prices to fall, this or next week would have to drop below 89,851 and stay below it.
Red dashed lines would be the TP levels for short.
In this scenario, since the ATH, I am assuming an ABC correction lasting several months in which we are now in the blue b (consists of black abc) of the red B.
If we see tomorrow or maybe on Friday (next week at the latest) that 1.33550 will be reached, one could buy a long position with the SL under 33517.
Confirmation for rising prices with the goal between...
DJ could not close over SMA 200.
The next target upwards would be EMA 50 or SMA 50. Falling again here.
So, on a daily basis, the next lower low will follow tomorrow.
Note the intraday break at 34255 and about 300 P could turn into a profit.
In my estimation, next week should form deeper lows than this week.
So next week I'll see what kind of low the Monday candle has and join Long.
Confirmation for release from the short pressure becomes active when 1.1720 per day's closing price is overcome.
In that case the 2 indicated TPs would follow.
Then we'll see how it goes on...
Since August 20th the price has been moving within the bullish trend channel and from the constellation of the candles I can see that we will see another high in October.
But I expect that after a new October high, there will be falling prices, at least with the target @ 70.70.
At the moment it remains to be seen whether the October low or the October high will be...
USD TRY outbid its last time high (8.82037) last week, generating a new bullish signal.
According to the EW counting, we are in the superordinate blue wave 3 or in black wave 1 of the yellow 5.
We will see confirmation of this scenario in October, provided there is no weekly closing price below 8.64508.
In that case, you can buy the October low and hold it until...
--- Higher tomorrow than today
--- In the white circle = short, ideally as soon as SMA 200 is reached
--- Closes this week under 15368 and if it stays below this until the end of September, then red or black paths are possible
--- If it is clearly above 15368 next week, then I will follow the blue path
--- All lines below 15368 are profit levels!
According to the chart, I expect a recovery on Monday, but there could be a red candle again on Tuesday.
So if there is no closing price above 15520 next week, then the low of last week will be undercut.
The target by the end of September is 15100.
This is how I see it at the moment:
--- Next week higher high than this week, i.e. you can probably look for short on Monday.
Prerequisite for this: no closing price above 1.19
--- If it stays above 1.1751 this whole month, then the blue variant would be an option.
--- Breaking and closing below 1.1751 (on a daily basis) would first lead to 1.1675, after that...
Today I noticed that this week opened above last week's closing price, so I'm assuming that this week will close higher than last week opened.
Such a constellation implies that the coming week should run higher than this one.
Just in case, here's another variant, so we'll wait to see where this week ends.
In this concept before a setback, neither this week...
In addition to my last chart:
--- With no close above 1.1780, I continue to see moderate weakness that could extend to the beginning of the second week of September.
In the case on September 6th, I'm looking for a long entry.
--- Confirmation for rising prices would be a clear bullish cross between EMA 5 & MA 20 on a daily basis. Pay attention to it!
Break & Close...
Pay attention to the last Friday of this month, August 27th.
If this setup works, then only 20 points SL over the ATH.
---- And by the end of this week, as follows:
Short on Wednesday high, Thursday and Friday trend should stay short.