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USD/TRY_TOD - USD/TRY

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USDTRY_TOD trade ideas

USDTRY- 27Dec2021USDTRY- 27Dec2021 On the weekly, price had a huge drop from 18.00 to 10.90 which is also the 20EMA. Price could potentially find support at this level. On the H4 timeframe, price had a weak bounce to around 12.00 before selling off to 10.90. As long as price is above 10.83 on H4, we could still expect a short-term bounce to 13.08 to occur. It is also worth noting that RSI is still at support level where previous bounces occurred. This is for personal record purposes only, not financial advise or solicitation of trade.
Long
by TTMFS
Traders should not trade this market!!!These markets try are a big risk to retail traders. We been decided to stay away from this market n seen the drop well before it happen ! While everyone else is surprised N this is why u should stay away smart money stop buying back in Nov 21 the took profits n as well they are not bearish on the market as well that market is just very over brought n very manipulated to the point they don't have to b aggressive in buying the market up or selling it this mean the market behavior is unpredictable price action isn't as valid therefore only greed will make a trader trade this market especially sellin a market when the investors are not selling it so if they are not driving it lower then ur at a great disadvantage trying to do so yourself Don't chase greed Thats a bad trait
by Donajor8
1
usdtryEveryone wants to know where it's going...Why not just scalp these areas USDTRY THE MAIN FOREX PAIR that has been very active in the news in 2021. Generally speaking all main gaps get filled...Let's see where market should fined some two way auction. My main trading analysis is always through orderflow & volume profile . I mainly scalp Futures (ES & NQ) I have Long-term stock portfolio & some crypto accounts but will be building on to these more & more in 2022! I haven't been very active on #Tradingview for sometime, but I will try to have some posts on here on a weekly basis. Wishing you all a Happy New Year & all the best in your #trading Emini Os
U
by EminiOs
USD/TRY Turkish Lira UpdateThis week has seen the USD/Turkish Lira exchange rate drop from a high of 18.25 TL per Dollar to a close at 11 TL per Dollar. In my previous idea published in January 2021. The concepts I laid out in that idea are still valid. The curve I drew still holds intact. RSI is still rising in the parallel channel. The recent spike has seen RSI reach even higher value than ever before. I still hold that this trend will continue until 2026 where the exchange rate will be 18 TL for the Dollar; and I'm talking about the normal stable every day rate, not a temporary spike like in the past month. Another thing to notice is the volatility. The previous spike in January 2017 reached a high that is 30% above my curve. The spike in September 2018 reached a high 71% above the curve, and lastly, the December 2021 spike reached a high 104% above the curve. As we go further in this trend, the spikes will be more volatile and we could see the rate triple in a matter of weeks, only to come back down the following week. This instability severely disturbs daily transactions both domestic and international which will push foreign investors away from Turkey. Already many investors are prepared to slowly pull out their capital as they say this instability occur right at the time of closing the books at the end of the year. Turks are already pricing their goods in Dollar and Euro having little confidence in the value of the TL. These factors will only worsen the situation in the coming years, and their effect is not seen immediately, but over months and years. Without a fundamental policy change, this trend will continue. Trust in the Turkish Central Bank is dropping as hard as the currency is. Throughout 2020, The Turkish government has been the biggest buyer of gold in the world, but they have been also the biggest seller of gold in the same year. The Central Bank is confused as is actually trading gold like an uncertain irresponsible child. The responsible thing to do is to peg the currency to either the Dollar, the Euro, Gold or even better, Bitcoin. It will cause a shock, but it will also bring security, stability and prosperity in less than a decade. You can follow this chart here . Follow me for updates on this chart and others.
Long
by TechNerdOmar
12
USDTRY- careful BUY strategyThe daily chart has developed a FALSE BEAR FLAG pattern. The flag channel is wide ranging between 11.28 and low 9.12s. This type of pattern usually suggest a sharp upward move, and that is why BUYING is advised. the question is where we do we buy. My previous buy level was 11.50-12.00, but think we should lower that now. I feel we buy or add 10.25-10.75 and after 9.50-9.75. The profit levels will be placed 13.75-15.00. It is no issue holding longs, but keep in mind that the stop-loss level is lower now and below 9.00. As a note: keep your positions to a very low leverage and add tiny to it if we fall. The market is still uncertain and there are still some USD longs out there from long-term perspective. For long-term I remain SELL 13.50-15.00 and profit 8.75-9.00.
Long
by peterbokma
5
USDTRY rising wedge and negative divergenceNegative divergence is observed since volume has not yet accompanied the upward movement in the currency. In this case, it will either be accompanied by an increase in volume or the weakening in the bullish stance which will potentially cause a broken trend. Rising wedge pattern is considered as one of the bearish reversal indicators. As the formation target, a reversal can be expected as much as the difference between the lower channel and the upper channel. In our example, the reversal potential is approximately 2.8 ₺ from the point where the channel breaks down.
Short
by sonerster