God Another Triangle..I see tirangles everywhere..
god bless us.
This can continue to be a big triangle for more than 6 months again like before...
Stop point breakdown.
Entry point breakout.
EUR TRY
EURTRY SHORTING POSITION OPORTUNITY*DOUBLE TOP PATTERN
*BEARISH PRICE ACTION (SHOOTING STAR ON DAILY)
*NO HISTORY OF HIGHER LEVELS
*EXCELLENT RISK REWARD RATIO
PLEASE COMMENT-LIKE-FOLLOW FOR MORE IDEAS!
usdtryI think it should be on the buying side with daily closing and eur USD and eurtry rising on 3.57.
eurtryFalling channel is broken now we are rising channel. With the developments in EUR USD parcels, we are at minimum 4,10 levels in the middle of 8th month.
RSI Quick Scan - Forex (aka Fiat)Here is my quick scan of the market.
Of course please don't just buy in Long/Short just because strength shows overbought/oversold.
There is always more room to 0 or 100.
1Day:
AUDCHF - 26 RSI
USDCHF - 29 RSI
USDSGD - 28 RSI
USDDKK - 26RSI
Honorable mentions:
USDPLN - 30 RSI Rising ATR
NZDCHF - 30 RSI
USDNOK - 31 RSI High ATR
EURNZD - 75 RSI
EURSEK - 72 RSI
EURTRY - 67 RSI (Bull Div)
A little extra work defining key candle swings/fib support levels with price alerts tends to pan out on at least one.
I tend to look for:
key candle momentum swings
day close fractals
dbl bottom/top
UsdTry daily chart analysisthe ongoing consolidation process in the triangle for a long time is coming to an end now
target's 4,xxxx
EUR TRY * BUY SETUPHere you can see my last ideas, on my channel!
www.tradingview.com
this days, most of them was Profitable. (y)
EURTRY : Buy Setup going above 4.40Final 5th pending wave extends to 4.4 from abcde of 4 consolidation.
Trade your plan
EUR / TRY - Politics to remain on the spotlightSince late January, the Central Bank of the Republic of Turkey has produced consistent efforts to stabilize the currency. This has produced tangible results with a upward correction although persistent political tensions. Erdogan's referendum victory is likely to be the most market-friendly option. A "No" scenario may lead to early elections and a period of political uncertainty.
EURTRY Strong BULLISH ENGULFING bar it is good to buy above yesterday high 3.9310 with stop loss below 3.8775 target at 4.1000
( Swing trade )
Back To SupportI'm back with the EURTRY to do a add-to-position. If you have followed me on the EURTRY, it's an idea to consider an increase of position. Just a moment ago, disappointing quarterly jobless average (dec) figures came out of Turkey. With the EU going somewhat stronger, I trust this one over the next week to continue upwards. Be aware that EU is in a strange place after several EU countries is banning Turkey. Also with Holland having election today, and soon France and eventually Germany. In that light, I have a fairly large SL on EURTRY. Don't necessarily do the same, unless you are comfortable with it.
EURTRY Long ABCD pattern 4HThe price is moving in an upward channel, it is currently at a level of resistance, where it opened with a gap on sunday night, and is half-way through the last leg of the AB=CD pattern within the channel.
EURTRY 4H Shark Cypher BearishEURTRY 4H Shark Cypher Bearish
Support: 3.89000 - 3.85000
This is not investment advice
Rest For A BitThis is, without doubt a long position for the long term. Diving into macro economy of TRY, it's not looking good, compared to EU. Currently I will wait and see if it's going to take a breather, before I jump in for the long run. Worth keeping an eye on.
3.11 Ratio Trade (1800 pips) on the EURTRY!As we see the pair formed a double top and closed below the neckline on the daily. The major trend line acts as a major support for the pair, breaking it means that the pair is going to the 3.70 levels.
Make sure NOT to sell before the trend is broken and the break is confirmed.
Good luck!
