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Lira

The Turkish FUD Hype slowly faded offThe USD is strong against the Pound Euro Yen Yuan, but this is only because they have been devalued so much. Turkey did not immediately go into a collapse, as usual investors have overreacted, now that I think of BTC it is the opposite where they undereact to every thing and happily let whales dump and they hold until they have nothing left XD. The Lira went way down way too fast I guess, and things are getting a little better. Hey, of course not as good as Erdogan was hoping for but he is insane, so it is not bad news that things are not as good as the governement predicted. Looks like the hype has been slowly fading away, and I am looking at a dump in the next weeks. Some reversal examples: etc. Good news everybody, there is big positive swap short, I think it is around 15% of the Daily ATR every day in our pockets. If the price enters in the red circle here, it could be interesting to go short and hold that for a few months. + High RR + Turkey more bullish than scam monetary policies US & EU, I think investors overreacted to TR and undereacted to the US pyramid scheme verge of civil war situation + And also didn't realise the USD was only strong because of devaluated EURO etc + Price in distribution ABC top + Interest is very interesting, not as storng as it was a few months back if I recall, but still pretty good, probably it will get less crazy as the price drops
Short
by MrRenev
7
USD/TRY: Weekly Perfectly Shaping Up To Equilibrium Range!Hello dear Turkish Lira traders, merhaba arkadaslar! ;) Let's have a look at our previous analysis from August 11th: => We perfectly bounced of from the support. I had already posted about the Weekly tightening range on August 3rd: Conclusion: This tightening will see a break coming in the coming months, and will dictate the bigger timeframe direction of USD/TRY. Selamlar, Deniz from Edgy If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Short
by Edgy_
1
USDTRY 4H Long buy opportunity We can take a long buy trade from recent levels : 5.5730 - 5.6200 TP1 : 5.7700 TP2 : 5.9630 TP3 : 6.1830 Stop Loss : 5.4000 This is not an investment recommendation or any call to buy or sell It is just an analysis based on a study of the history of price action Behavior , that may not be a necessarily reason for the success of the structure or repetition. So please make your decision based on your vision . To protect capital and manage your deals and trading successfully the maximum loss in each transaction for the same currency or commodity in the same direction should not exceed ( 2% ) of the capital . Good luck
Long
by Golden_Spiral
Market News and Charts for August 12, 2019USD/TRY The pair was seen trading at the tip of the “Falling Wedge” pattern and was expected to continue going down in the following days. The 2016 failed Turkish coup attempt started the end of the relationship between the United States and Turkey. The coup was led by U.S.-based preacher Fethullah Gulen within the Turkish military. Three (3) years after the failed coup, Turkey had its first delivery of the Russian S-400 missile defense system, which the U.S. allies said will compromise the defense sharing agreement of the NATO (North Atlantic Treaty Organization) Alliance. The second batch of delivery was expected to be finish this August. Aside from this, Turkey is mulling to purchase Russian SU-35 fighter jets after the U.S. expelled Turkey from the F-35 fighter jet program in response to its acquisition of Russia’s S-400. However, the Turkey-U.S. relationship might enter into a new low after Turkey loaned $1 billion from China.
by Financebroker
USD/TRY: Important S&R zoneHello 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 other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges. Selamlar, Deniz from Edgy
Long
by Edgy_
4
USD/TRY: Still In Channel! But Non-LinearHello dear Turkish Lira traders, merhaba arkadaslar! The last time we were looking at this analysis: => We can see that the bulls couldn't break the horizontal resistance at 5.78, so we broke the bottom at 5.67 and since then we're still in a downtrend, albeit that the market doesn't respect it much with linear trendlines. => Non-linear moves happen very often in charts, especiall after expontential moves: it is something that I'm personally very interested in observing. Have a look at this example from the stock world that I just analyzed: Conclusion: We're still trending downward, and sometime we will see a breakout coming to the upside: When this happens, we will further tighten, as you can seee best on the Weekly chart: If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Selamlar, Deniz from Edgy Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
by Edgy_
2
EURTRY | EURO/LIRA Short on CorrectionSelling Lira because the overnight funding you sometimes get is just insanity! On my broker I get 0.05% on my LEVERAGED position... PER NIGHT! That's 1% in just three weeks! For example I sell a position for $1000 which is leveraged x100 = $100,000. I get $1000 in just three weeks which is my initial investment, this means I make 100% ROE in three weeks if market moves sideways. The technical analysis actually says it probably goes down. Insane. To the technical analysis: Wait for correction to next weeks central pivot point or 21/34 EMAs then SELL and HODL.
Short
by MarcsPal
USD/TRY: Double Bottom If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
by Edgy_
USDTRY Falling WedgeEm currencies area dangerous game of course, but USDTRY may be one to watch. With the CBRT likely to cut rates (or else face the wrath of Erdogan...again) and Turkey doing everything in its power to become an international pariah (Cyprus drilling, Russian military equipment purchases) this may turn into a perfect technical set up for a sharp reversal. Though we likely won't know until after the Fed rate cut decision. A 25bps cut will probably disappoint markets and see only a weak EM rally. The technicals here recommended closing the short position on the 9th, so we'll see how this plays out shortly.
Long
by austrian_trader
Erdogan Lets Cetinkaya Go: Does He Even Understand Economics?Hello my dear Turkish Lira traders, Forex friends, merhaba arkadaslar! ;) Erdogan just let the central bank president Cetinkaya go: He argues that the high interest rates are the reason for the high inflation. But commonly known among economists is that both high inflation & high interest rates are the consequence of a weak currency. Erdogan also shows clearly with the change, that monetary power lies in his hands. Technically we're still in a downward channel, and can break this, esp. due to this news. Have fun watching! ;) Selamlar, Deniz from Edgy If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :) Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Long
by Edgy_
5