The USDTRY pair tends to be extremely volatile, and hence it brings many scalping opportunities. On the sell side, and on the hourly chart, you need to keep an eye on EMA-200, EMA-25, trading volume, its MA, and a few important points of time during the day. Zoom into the chart. By 7:00 AM UTC (sometimes 8:00 AM), a significant trading volume spike above its MA...
Signals: In an uptrend look for the indicator reversal points below zero to go long. In a downtrend look for the indicator reversal points above zero to go long. Trend identification: A rising ROC typically shows uptrend and crossing above zero line confirms the uptrend. A falling ROC typically shows downtrend and crossing below zero line confirms the downtrend.
A pivot point is a technical indicator to identify trends and reversals in any market. Pivot points are calculated to determine critical levels in which the price could find its support and continues in the same direction or change from bullish to bearish, and vice-versa. We can use Pivot points to find entry, stops, and profit-taking by trying to determine...
In this very busy chart, I compare 6 forex pairs. It needs some study. What seems clear to me is that the USD strength has been heading south manly since March 2020. This is not unexpected of course, following the FED's money-printing spree, now called QE infinity. I'm not here to say whether that's a good thing or a bad thing. The overall effect of a weak USD...
There is a received wisdom that what goes up has to come down. Well, this currency pair trend may defy that rule. We shall have to wait and see. For sure there are corrections to be expected. This begs the question of what does 'down' mean? Is 'down' - a correction? or - does it mean a fall below its original starting point? If you take it as below some...
Ascending Triangle Definition: An ascending triangle is a type of triangle chart pattern that occurs when there is a resistance level and a slope of higher lows . It is defined by two lines: . A horizontal resistance line running through peaks. . An u ptrend line drawn through the bottoms. The higher lows indicate more buyers are gradually entering...
KEY TAKEAWAYS An ascending channel is used in technical analysis to show an uptrend in a security’s price. It is formed from two positive sloping trend lines drawn above and below a price series depicting resistance and support levels, respectively. Channels are used commonly in technical analysis to confirm trends and identify breakouts and reversals....
In the last two daily sessions, the VOLUME in USDTRY is incredibly low compared to past data. Sellers do not want to sell, Buyers are not interested to buy. is this a sign for a reversal soon ?
Technical ; There is a clear negative divergence in MACD , STOCH & Price indicators at USDTRY charts, indicating a potential reversal here. if USDTRY closes the day below 7.10, we might see 6.60 as a new target. Socio-political ; news about a swap-line agreement will be decisive for the direction of the trend. An agreement may lead to a large gap...
Ah, the great nations of Ethiopia and Afghanistan. Since very low income inequality is, according the far left, the absolute peak of human development, then we can all agree that Kazakhstan, Ethiopia, Afghanistan are among the most prosperous nations of the planet, absolute powerhouses! Every single country that tried "equality" has failed utterly. The ones that...
2018-08-10 - $USDTRY: Keeping A Close Watch On E.A.G.L.E.: Traders, Can you count how many times we got burnt on $USDTRY, waiting for a movement that occurred in multiples of the expected forecast, or one that simply turned around? I can: Two too many. In this case, I want to highlight a few areas that are worth looking as we wait for a probable reversal at...
significant divergence between ZAR and TRY, LIRA having difficulty to find ground as the politics set the tone of the markets over the last two months. Equities dived more than 12 % in TRY terms from its october highs and the benchmark paper yields moved to 14.34 from 11.67 (2 year)
Waves 2 and 4 within an Impulsive wave will unfold in different forms: if wave 2 is a simple ABC form ( zigzag), the 4th wave is likely to be a complex wave (triangle, double three etc.)
"Running correction usually elliott wave 2 or 4 Strong impulse move should follow."