THIS USDTRY SETUP IS AN OVERLAPPING TREND LINE AND 200 EMA TRADE. SINCE TRY ,HAS A INCREASED VOLATILITY ESPECIALLY WHEN POLITICAL UNCERTAINTY RISES , IS AN ADVANCE CURRENCY TO PLAY WITH. SO, I AM GOING HERE WITH ZONE ESPECIALLY FOR THE ENTRY AND THE STOP. YOU CAN PICK YOUR EXACT ENTRY REGARDING TO YOUR RISK LEVEL. I AM A HUGE BELIEVER THAT THIS PAIR CAN GO ONLY...
only and only under the 5.55 all ofrising formation will be canceled
CHINA, IRAN, VENEZUELLA, BREXIT, NORTH KOREA, AND FED TOGETHER
Possible bearish pennant formation on this pair. Note possible trend line confluence as well as 61.8% fib level target. Initial bearish outbreak gave us approximately 200 pips. Breakout to target would mirror another 200'is pips. I do believe long term we will see higher prices, but for short term we have to take what the market gives us. This trade idea is for...
Turkish Lira USDTRY may fall down again and it is good to get the next summer vacation in Istanbul !!
USD/TRY harmonic bullish gartley pattern and bullish divergence on RSI + oversold.
look my last TA about this currency. it will have a hard time.
Well, chart says it all: 1. No financial advise 2. Couple weeks ago 50 MA crossed 200 MA (Golden Cross) 3. High 6.22 have been taken out by SFP (local top) 4. PA heading down to retest of major "resistance flipped into support" level of 5.75 5. RSI Hidden Bullish Divergence is building (important) I don't care about news, politics, manipulations. Only price...
Some thoughts on Turkish Lira: - Year long accumulation is over - Volume is picking up - Weekly bullish order block/demand zone retested - Forget hitting Targets, I think we are in the game for price discovery - Clean downward break thru demand zone and close below may invalidate current PA Of course not financial advise. DYO Home work.
A textbook trade the previous analysis on usdtry. Showing how easy trading can be sometimes if we are willing to wait for a good setup. As we can see on the left, it respects that big bull flag that i drew a week ago. So we could be closing in on a temp low on the lower time frame. My game plan now is, waiting for a potential inverse H&S with the low in that...
USD/TRY harmonic bullish gartley pattern. Targets are shown on the chart. (short term idea)
Setup on chart.
There are similarities with Venezuela. It's look like Trump and Israel doesn't wan't to loose power in middle east. They are some good projects like: *new silk road to istanbul *drilling for oil and gas near Cyprus in the near future Battle cards tell you truth. Turkey+Russia+China+Iran have now more power and control in middle east. Trump + Israel have more...
Uptrend on the right broke and the one on the left as well. It is around the breakout zone now which can be a resistance level and there is a chance to see an H&S getting completed here. Since the right shoulder got high, it needs to drop fast to become reliable. So i good risk reward here which i am going to give a try with a small size here and will make it...
USD/TRY symmetrical triangle. IF can't hold the 5.98-6.04 area, we'll go back to 5.82-5.85 area.
The pair is on a strong uptrend on 1D (RSI = 58.592, MACD = 0.072, Highs/Lows = 0.0000) forming the right side of the 1W cup formation. It appears that the uptrend targets the Lower Highs of the previous downtrend in the form of Resistance Levels. Based on this we are long with 6.38740 our next TP and 6.64497 the extension. ** If you like our free content...