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Lira

USD/TRY: Still In Channel! But Non-LinearHello dear Turkish Lira traders, merhaba arkadaslar! The last time we were looking at this analysis: => We can see that the bulls couldn't break the horizontal resistance at 5.78, so we broke the bottom at 5.67 and since then we're still in a downtrend, albeit that the market doesn't respect it much with linear trendlines. => Non-linear moves happen very often in charts, especiall after expontential moves: it is something that I'm personally very interested in observing. Have a look at this example from the stock world that I just analyzed: Conclusion: We're still trending downward, and sometime we will see a breakout coming to the upside: When this happens, we will further tighten, as you can seee best on the Weekly chart: If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Selamlar, Deniz from Edgy Edgy is providing online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
by Edgy_
2
EURTRY | EURO/LIRA Short on CorrectionSelling Lira because the overnight funding you sometimes get is just insanity! On my broker I get 0.05% on my LEVERAGED position... PER NIGHT! That's 1% in just three weeks! For example I sell a position for $1000 which is leveraged x100 = $100,000. I get $1000 in just three weeks which is my initial investment, this means I make 100% ROE in three weeks if market moves sideways. The technical analysis actually says it probably goes down. Insane. To the technical analysis: Wait for correction to next weeks central pivot point or 21/34 EMAs then SELL and HODL.
Short
by MarcsPal
USD/TRY: Double Bottom If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my analyses! I wish you a good trading! :) Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
by Edgy_
USDTRY Falling WedgeEm currencies area dangerous game of course, but USDTRY may be one to watch. With the CBRT likely to cut rates (or else face the wrath of Erdogan...again) and Turkey doing everything in its power to become an international pariah (Cyprus drilling, Russian military equipment purchases) this may turn into a perfect technical set up for a sharp reversal. Though we likely won't know until after the Fed rate cut decision. A 25bps cut will probably disappoint markets and see only a weak EM rally. The technicals here recommended closing the short position on the 9th, so we'll see how this plays out shortly.
Long
by austrian_trader
Erdogan Lets Cetinkaya Go: Does He Even Understand Economics?Hello my dear Turkish Lira traders, Forex friends, merhaba arkadaslar! ;) Erdogan just let the central bank president Cetinkaya go: He argues that the high interest rates are the reason for the high inflation. But commonly known among economists is that both high inflation & high interest rates are the consequence of a weak currency. Erdogan also shows clearly with the change, that monetary power lies in his hands. Technically we're still in a downward channel, and can break this, esp. due to this news. Have fun watching! ;) Selamlar, Deniz from Edgy If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :) Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Long
by Edgy_
5
Turkish Lira: Equilibrium On The Weekly Chart!Hello dear Turkish Lira traders & watchers, merhaba arkadaslar! Let's have a look at our last analysis: => We clearly didn't see any follow through on the potential Double Bottom, we broke the lows to the downside. Now what? As I had written and shown to you in the last analysis already, we now have a high potential for an Equilibrium on the Weekly chart: => The core range of this EQ goes from 6 to 5.15: we will further tighten inside this range, before we see a breakout coming. The potential colors refer to potential strength by the bulls or bears. This could still take many weeks to come into the end of 2019. What is going on fundamentally? Even though the AKP lost the re-election in Istanbul, any policy or personell changes are not in sight. Previous important AKP members are getting more & more frustrated with Erdogans rule, albeit still behind closed doors. Because of the power loss, the government has further limited the mayoral power in cities, so now for big projects, the major needs the consent of the president too. This shows clearly that Erdogan is basically ignoring the outcome, giving the decision making competence & the jurisdiction to himself immediately. Therefore, fundamentally, it is hard to imagine to see a break out of the EQ to the bottom side, but as I said, there is still much time until then. Selamlar, Deniz from Edgy Can you read the chart yourself, or are you still dependent on other people like myself to read it for you? Do you have a trading plan with sheets, or are you trading from your head? Are you already making gains over the long-term, like a casino, or are you losing over the long-term, because you have no idea what your strategy is? => Those are all important questions, where are I can help you with. I wish you a good trading! :) Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
by Edgy_
2
USD/TRY Trade Idea - Low Risk/High Reward Set UpThis idea is for educational and demonstration purposes and does not constitute a signal. If you take this trade, you do so at your own risk. This is simply an idea and not a guarantee. We have the following confluences: 1. Trendline as noted; price has tested this trendline on now the fourth occasion 2. Price is also sitting at a key fib level 61.8% from last swing points. 3. Price is currently sitting on key demand zone, and appears to be respecting this zone. 4. Descending channel; we can expect an outbreak to the upside. How far, we can only presume (hence the TP1 and TP2) 5. We show divergence on the H4 TP1: 275 pips TP2: 525 pips I suggest placing the stop loss around 40-50 pips beneath the trendline as noted. You want to allow more room because of this trade's usual price action, so you will not get stopped out. I suggest allowing the market to digest a little on market open on this Sunday and analyzing this again; We know this pair is known to open with gaps, so we have to adjust our trade ideas accordingly. This offers a low risk to great reward set up. Please be sure to like and offer your comments. Also please follow me on Instagram and Facebook (links below). Please click the follow link below to follow this idea, and also be sure you turn on your notifications to get my trade ideas. I am currently accepting new mentees to teach them how to trade the forex markets. You will do so with an exquisite educational platform. You will have mentors, coaches, and trading partners along the way and we share ideas and signals. Education is taught by professional traders. If you look at my trade idea history you will see that my trade ideas are very much accurate. I owe it to the education that I receive along with mentorship from top traders. Inbox me for more information and we can get you started today.
Long
by mrsceleste
4
USD/TRY SHORT OPPORTUNITYThis trade idea is a study and does not constitute a signal. Trade at your own risk. Price is currently forming a bearish flag. I'm looking for two scenarios: 1. Price makes its way to the top of the channel, which would be the 50% fib level from swing high to swing low. I would look to sell at that point as noted. 2. Price may not make it to the top of the channel and could breakout from the flag. I would look for a continuation of sell. Please be sure to like and offer comments; Also please follow me on Instagram and Facebook (links below). Inbox me to learn this forex skill and join my team of profitable traders. You must click the follow link at the bottom right and be sure your notifications are turned on to get updates on this trade idea. I will make updates as we see price action next week.
Short
by mrsceleste
2
Istanbul defended democracy, but Erdogan is still in powerHello dear Turkish Lira traders, merhaba arkadaslar! ;) Istanbul clearly defended democracy on Sunday, giving the counterpart of the AKP, Ekrem Imamoglu, the majority of the votes, even in districts where the AKP had previously a stronghold. Even though Erdogan was not directly up for election, it was a clear message to the government: If you do not count our votes in the election, we will not stand still . The Istanbul mayoral election, which had closed almost 50:50 in the previous election, now went clearly 54 to 46 towards the CHP in the reelection. What does it now mean for the Lira? => While it is clear that the CHP won Istanbul now -and with it almost one third of Turkey's economy- Erdogan is still the man in the land . He controls almost all political institutions, even up to the legislature. While people are on the streets dancing, at the same time the trials against the Gezi Park supporters like Osman Kavala have started. So, it's back to usual, esp. if the the government intervened before the election to hold the Lira stable: We're currently building a nice Double Bottom on the Daily, which needs to see a break above the Pullback High 'neckline' to see a confirmation. If we see a breakout here above 5,9 TRY, we could easily reach 6 and above, which would make the green line of my big time-frame analysis from Friday the most likely scenario: You can check it out if you want, I'll link it under the description. Selamlar, Deniz from Edgy Can you read the chart yourself, or are you still dependent on other people like myself to read it for you? Are you an 'illiterate in charting'? Do you have a trading plan with sheets, or are you trading from your head? Are you already making gains over the long-term, like a casino, or are you losing over the long-term, because you have no idea what your strategy is? => Those are all important questions, where are I can help you with. I wish you a good trading! :) Edgy is providing online mentorship & trading metrics only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
Long
by Edgy_
USDTRY Possible Double BottomFor now WATCH; THIS IS NOT A SIGNAL but education. Price confluence with trendline on higher time frame. Fib level confluence. Looking nice for a double bottom if plays out. See also linked trade idea below for possible teacup formation long term. Watching for confirmation as always before entering. Trade at your own risk. Be sure to click the follow button in the lower right hand corner to get updates along the way. Also be sure to follow me on my Instagram and Facebook (links below).
Long
by mrsceleste
Is Erdogan rigging the Lira (and the election) ?Hello dear FX & Turkish Lira traders, merhaba arkadaslar! ;) It's been a long time since I've made an analysis to the Turkish Lira : But yet again, we have important elections coming up on Sunday: The AKP didn't accept the outcome of the first voting, which sent the pair through the roof immediately with an Ascending Triangle : Since then we've been consolidating & have given the whole move back. But some already speculate that the government might be rigging the price, in order to keep it calm before the election. We will see the market reaction, once the election is done -and this time- accepted. Should we keep on going down, we definitely have the potential to come to the previous S&R zone (support & resistance) at 5,5 and build a higher low there. I think the most likely scenario is the green line or the lila line : Further tightening inside this range, either to 5,5, or 5, before we see break out to the upside. Less likely is that red scenario, where we would test the bottom support of 5, and break it eventually. Very big picture on Monthly : Even better visible. Huge Equilibrium pattern, since we had broken the 5 Dollar/Lira to the upside, this pattern will be broken guys: Conclusion guys: the market has already spoken, when we went through the roof with 4% after the first election was declared invalid. As long as Turkey/Erdogan does not accept democratic elections, the Lira will keep falling in the long-run against the major pairs USD & EUR. Have a great day/evening global family! ;) Selam, Deniz from Edgy If you had some value from my analysis, give it a thumbs-up & comment it, because the mechanism shows my analysis to other people then. Make also sure to follow me so you get notified on my Crypto Analyses! I wish you a good trading! :) Edgy is providing trading metrics & online education only. We are not a financial advisor, nor do we hold any formal qualifications in this area. You're trading at your own risk. No matter what you do, please set your stop loss. Please be aware, that you can lose all your money on the online exchanges.
by Edgy_
USDTRY Possible Bearish PennantPossible 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 demonstration and educational purposes. Trade at your own risk. THIS IS NOT A SIGNAL Trade at your own risk. Be sure to follow this idea by clicking the flag on the lower right corner of this idea. Also in your notifications please turn them on to follow the ideas of your followers (me). Please like/comment/follow me here, on Instagram and Facebook (links all below) Happy Trading!
Short
by mrsceleste
2