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Turkish

USDTRY LongIt has just surpassed the 6.79 level, and is now heading to the next level at 7.10. The MACD is also showing us some bull strenght, and it the candlesticks were strong surpassing the 6.79 lvl (forming two white soldiers, on the 4H chart, and i believe it'll get to three white soldiers) We can also see a strong bullish trend starting around the early days of March, which was tested a second time in the end of this month and a third time 5 days ago. The 6.79 level was tested a few times since the start of April.
Long
by Edu4X
ridethepig | Squeeze!Recognise that this demand for USD is squeezing USDTRY into the secondary macro swing targets at 6.60xx. This is completely inline with the forecasts and all those in leveraged positions are inclined to take profits. We are not out of the woods (yet) and large hands will continue to buy dips in USDTRY as long as we remain in risk-off flows. As widely mentioned "local banks will come under pressure and show severe distress above 7" ...increasingly this is becoming the target as weak fundamentals and dictators limit ability to invest in the currency. Expect some consolidation over the coming days before further funding issues add upward pressure via USD demand. Good luck all those buying the dips, highly recommend tracking TRY as a good benchmark to health in EM FX. Thanks for keeping the support coming with likes, as usual jump into the comments with your charts, view and etc!
Long
by ridethepig
4
ridethepig | TRY Capitulating...The struggle for democracy is being carried out and as long as Erdogan remains at the helm there is only one direction for TRY. Autocrats are typically sticky in nature and difficult to remove, the attack should first be aimed at the currency which will be the base of the capitulation. Attacking the 7.8 will break local bank and looks imminent as markets receive the USD via safe haven flows. Example: After the technical break of the resistance the swing formation seems to be self fulfilling. So, according to the plan we attacked immediately and that is now clear in the outflows by... If you wish to undermine democracy; you tend to try to blow up the foundations of capitalism. The natural restructuring of markets will always follow automatically and hence it is only a matter of time before we see 7.80 and Turkish banks capitulating. After Erdogan, the IMF bailouts will have different possibilities. Turkey's plan can be seen at its clearest now that fears of coronavirus have coupled alongside the Saudi / Russia oil action. Remember, Turkey is an importer of Oil ... so with Oil now flirting with a break towards $20 (see diagram) the logical development will be to destroy the highs in USDTRY. Very simple. Continue to work longs on the first dip you see. Thanks as usual for keeping the likes and comments coming, jump into the discussion with your views on TRY!
Long
by ridethepig
7
USDTRY AnalysisHey Traders, I hope everyone is having a good time as the year is ending and new one is beginning soon; I saw this market or the dollar-Lira which the market has broken the resistance area and then retested, if the market holds above this level and the breakout turns to be real one, then the Lira is going up, my target is the second resistance area which the wig the market made 26th of Aug this year. however, if the breakout turns to be a fake breakout, then the market is gonna sell-off around 5.80 as my level of support, then the market will decide where to go then. Here is the trade setup Scenario 1: Long Trade Setup USDTRY Buy at 5.93133 Stop Loss at 5.8960 Target Profit at 6.03960 If market movement is now fake and the current support area is broken, then the market would turn into short and here is the second scenario for it: Scenario 2: Short Trade Setup USDTRY Sell at 5.88000 Stop Loss at 5.9580 Target Profit at 5.8000 Good Luck and happy new year!
by sirkamal
PENGUINS PLAY WITH TURKEY THIS TIME:) USDTRY 7/12/2019Hello Traders! We would like to show you a game... While Penguins are on the hunt, you can easily join them as well! It is easy, all you need to do is to collect the hearts and watch for the pig and thunder signs. Targets are marked on the chart as a crosshair. Heart in the box - a place to jump in/out Sign with exclamation mark - places to be aware of a few different types of reactions from this level Target sign - the first target to focus on Thunder sign - spot to react - possible jump to push into reversal Penguin - expected direction Have fun with it, and remember - this game is about the patience. Keep yourself cool, whilst not being greedy. Like it if it was helpful to you. We appreciate the likes and comments. Provided feedback helps us with the future service. Got questions? Feel free to PM us! Thank you for your attention, GOD BLESS U ALL!
by Snipers-Academy
2