EUR TRY
Short EURTRYThis is a bit of an against the grain trade but its a solid setup on multiple levels along with it being a nice position trade as well. We are willing to let this trade work for a while, but perhaps it only takes a few days. Short at the current level to target the 3.3700 level.
EURTRY PAIR STATUSI GUESS NOW CAME BACK TO 50 DMA WHEN WE LOOK THE RSI AND GOLDEN CROSS I GUESS TIME TO BUY. LETS SEE
EURTRY Buying OpportunityLooks like EURTRY has finished visit bottom of trendline, so it may be a good idea for buy to the upper of it..
EURTRY: Longs after loss of bearish momentumEURTRY is about to confirm a long entry based on one of the trading strategies we employ, derived from Tim West's methodology. I'll be sending a signal to long to my trading signals clients after today's close. Sellers have already taken positions and it appears there's no one left here to sell. This cross pair presents a nice technical level, and good opportunity to leverage the bearish fundamentals the Turkish lyra has.
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Ivan Labrie
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EURTRY Long analysisMostly it's going to be similar to USD but USD interest rates important and can change EURTRY
POST FAILED COUP -- LOOK TO SHORT EURTRY, USDTRYI'm not currently set up to trade spot forex, but this just says "short" all over the place, assuming it doesn't totally implode on Asian open tomorrow (it probably will) ... .
I looked at other long Turkey plays (e.g., TUR), but they are unlikely to move much or will recover by the time NY opens.
EURTRY AnalysisWe have tested monthly demand area (3.0824-2.8456) once and then, as we expected we got a nice selling reaction from monthly resistance area (3.4791-3.3764)
Right now, price aciton is telling us that we may break daily supply or weekly demand zone easily by virtue of spending too much time to form both of them. But yet, if price reaches weekly demand zone, i would expect at least price to form some kind of a consolidation before breaking it downwards.
I prefer to sit on my hands and be waiting some newly created opportunities to come up.
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EURTRY bullish signals with bullish fundamentalsThe current political uncertainty in Turkey is what drove that sharp rally in the first place, and the current consolidation is, for me, a signal of momentum build-up that will cause another spike following further uncertainty in the country.
The reason for this is that tourism could be affected, thus causing investors to stay away from the currency, buying stronger currency pairs against it, such as the euro.
EURTRY D Bearish GARTLEY PATTERN @ 3.4470Hi Guys,
This is a bearish GARTLEY Pattern completing at 3.4500 but I will be front-running my orders to make sure I get filled on this trade. The EURTRY has been in an uptrend for a long time now but it hit a level of resistance in back-to-back months late last year. I am expecting that the same level of resistance will hold making for a good sell trade for harmonic confluence.
The stop loss will be placed tightly above above the X leg as this pair has been in an uptrend forever which is used as good resistance in this case. Targets will be at the 38.2% and 61.8% fibonacci levels. IF/WHEN first targets are met, half of the position would be closed for profit and stop loss for the second half of the position will be moved to break-even, ensuring a risk-free trade.
Thank you for your support.
Trade Numbers:
Risk: 1000 pips x 2 = 2000 pips
Reward #1: 1700 pips. R:R = 1:1.70
Reward #2: 2750 pips. R:R = 1:2.75
Plan your trade... Trade your plan.
