The USD/TRY currency pair has been trading in a descending triangle since the end of August. As apparent on the chart, a breakout from the pattern might occur in the nearest future. From the theoretical point of view, the pair should go downwards the support level formed by a combination of the weekly S2, monthly S1 and the Fibonacci 38.20% at 5.7597. It is...
I entered too early. But fuckit. Still making a lot of money this week
Clear move here? Everyone thought bitcoin was great when it was going up Sharply; however if we focus on the economic turmoil currently radiating through turkey it is clear that parabolic price inclines in a currency do not necessarily mean positive things other than profit for traders on the correct side of the market. Smaller time frames show bearish momentum...
Judas swing - low of the week being formed on Tuesday London open I should put more money into this trade.. its perfect $$$
Midterm forecast: There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 5.0000 would begin in Midterm. Technical analysis: The RSI support #1 at 48 is broken, so the probability of resumption of uptrend is decreased. While the RSI downtrend #2 is not broken, bearish wave in price would continue. Price is below...
Midterm forecast: There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 5.0000 would begin in Midterm. Technical analysis: The RSI support #1 at 48 is broken, so the probability of resumption of uptrend is decreased. While the RSI downtrend #2 is not broken, bearish wave in price would continue. Price is below...
Finish downtrend, low of the week around ~tuesday, retrace to 6.28, then the pastor is freed so lira can go below 5.5
USDTRY is trading within a +2 month long Triangle on 1D (RSI = 45.814, ADX = 15.914). The Lower High sequence (Highs/Lows = -0.0144) is limiting the upside potential to 6.2000 and is narrowing down the trading width to the point that the 5.95884 - 6.01186 buying zone should break. If it does, we will target 5.70. On any other occasion we will be idle.
Which is a bit weird because there are a lot of sell stops below
Western media is doing everything to get lira below $5.5 so (((they))) can stock up on longs and then destroy the lira pushing it above $7.1 -Central bank increasing interest rates, Turkey trying to regain investor confidence, talks about pastor A lot of money to be made on this conflict. Short the retrace, and long below 5.5
The Turkish Lira has been depreciating against the US Dollar in an ascending channel since the middle of August. Currently, the rate is being supported by the 55– and 100-hour SMAs on the 1H time-frame. Given that technical indicators flash bullish signals both in the short and the long terms, it is expected that the pair could go to the upper boundary of given...