USD / TRY ! LONG THE SUPPORTTRY keep losing value everyday
I expect a correction before a big move up
TRY
USDTRY Continue To Go For LONGI am starting to trade exotic pairs now based on my strategy that I primarily use for GBP pairs that are volatility. Based on the trend, USDTRY is still going up that may break the 7.00 threshold. Follow the trend for the upside for USDTRY.
TP: 6.955-7.00
USDTRY As I told you ! But do not blame be about dropping of TRYOnce I have posted that Turkish lira will get to 7.0000 and some locals from Istanbul commented very aggressively, that it's not possible, and this is bullsh*t. But you can see now that price is already 6.9020. When I am saying that some currency will drop, it will ! not because of my position against that country, I have a lot of very good friends in Istanbul, but just because I am doing analysis in A RiGHT WAY !
USD/TRY analysis 15.04.2020USD/TRY short term analysis. Harmonic bearish butterfly will go down a lil. Shorting it
2020 early election in turkey?TRY gaining again, but this is not a crypto coin.
Have more place and sactions to growth.
It needs some kick in ass for discussing About early election with newcomer pary like davutoglu and babacan.
I see a clear fake out pump coming here.
Maybe from a well organised secret Service from west countries.
USDTRY AT CRUCIAL POINTHello my fellow traders, hope you all are making some profits. We are here with our new analysis so that we can increase those profits for you. Let’s get into the analysis.
As you can see that the pair is at the resistance and also in its ascending channel so we advice one to wait for the confirmation
Let us know your views on this in the comment section. Thank you all.
There is good news for our followers. We will be analyzing on demand. So let us know which pair you want our analysis on and we will get it for you. Do like and follow us.
Ryan.R..Lopes
USDTRY Potential Bearish MovementUSDTRY Potential Bearish Movement
we are waiting for a momentum candle close below 6.690 to sell this one
Reason:
1- Regular Bearish Divergence on MACD (in red)
2- Objective Channel (in blue)
3- All-Time-High
Three confluences are enough to consider Selling USDTRY, after a break below 6.690 (in gray)
*meanwhile, this pair is overall bullish, until an objective sell setup is activated
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!
USDTRY updated mapThe pair followed the world as DXY has crossed beyond the 100 and EM currencies couldn't resist global dollar demand.
So, it's time to update the labels.
We are in yellow wave Y already and it reached the equal distance of wave W. Potentially it could tag the former top at 7.0830
where Y will be equal to 1.618 of W.
This will complete the wave X (white labels).
Then another drop of the dollar could start.
ZOOM: TURKISH LIRA CORRECTINGI'm now bearish for LIRA.
It can be a good opp. for bringing average Price down.
5.65-5.78TL range will be a good entry
USDTRY will reach 7.0000Turkish lira continuously weakening. The lowest price was reached in 2018 7.080 against US dollar, looks like the same level will be reached soon. Rising tention with EU about refugies, turism crisis (actually tourism is on of the main parts of the economy), so the mix of this two fundamental factors will push TRY lower.
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!
USDTRY map: down then huge up then collapseUSDTRY could dip now into 5.45 area to complete small wave X (white label).
Then the final move up with wave Y in larger degree X could emerge, which could tag former top of 7.0830.
After that the large Y to unfold down to retest the bottom of the entire consolidation at 5.1300
Turkish Lira is ready for upliftSymmetrical triangle violated ---- check
Fib level 0.705 taken out via double bottom ---- check
Upside previously tested via long wicks ---- check
Fundamental (news, macro etc) ----- check
Where do you think $TRY is going soon?
Not financial advise, course.
USDTRY | Ascending TrianglePlease support this idea with LIKE if you find it useful.
Price formed an Ascending Triangle, that is a bullish pattern. We can initiate a long position if there is a confirmed breakout of Resistance level.
Thank you for reading this idea! Hope it's been useful to you and some of us will turn it into profitable.
Remember this analysis is not 100% accurate. No single analysis is. To make a decision follow your own thoughts.
The information given is not a Financial Advice.
Turkish lira - correction !Turkish lira is near to its end, bow trading at 6.1096. Long term technical analysis shows corrections of this trend to S1 support level 5.9880, next target can be S2 level. This levels are calculating based on long term fibonacci retracement, also confirmation fo our analisys can be pattern wedge with trendlines T1-T2. Crossing of T1 will be a signal to sell USDTRY.
