EURTRY Bull FlagLooks like a very decent and stable bull flag here, so it is worth the risk. I am going to get in with half a size here and increase it to a normal size if we get a break out.
TRY
USDTRY Falling Wedge Breakout is Imminent - Long Term IdeaUSDTRY has a falling wedge formation on the weekly chart. If this week closes above 5.31 falling wedge breakout will be confirmed.
Stoch RSI is extremely oversold on the weekly chart. Tom Demark count gave a red 9 and counted extra 3 bars.
In upcoming weeks I expect a bullish rally to start.
Here is my long term trading idea:
Long at: 5.26 - 5.31
Take profit at: 5.43 - 5.75 - 5.82
Stop loss: 5.04
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
TRY - JPY - Short Great RRJust looking at some not so normal pairs and spotted this. Great long term play here, can play all the way down. Stop is clear to see, goo RR. Can be played with margin @ bit.ly
USDTRY could hit 6+ and then there are two optionsBlue labels indicate that the correction is over within WXYXZ triple three corrective structure and we can retest the former top above TRY 7.
White labels imply longer consolidation within WXY double three pattern with retesting of former low before the final devaluation.
Both maps show that lira could weaken to 6+ level first.
USDTRY - Get Ready For A Bullish BreakoutUSDTRY counted red 9 according to Tom Demark count. After red 9 we expect a trend reversal. Weekly Stoch RSI is at historically low levels. Bollinger Bands are very narrow at the daily chart. I expect a bullish breakout within this month. Major resistance areas are: 5.33 (daily MA20), 5.43 (fib 0.5) and 5.72 (weekly MA20). Major support is at: 5.05 (fib 0.618)
Here is my long term trading idea:
Long at: 5.20-5.22
Take profit levels: 5.30 - 5.41 - 5.70
Stop loss: 5.00
TRY/JPY 1H Chart: Medium-term channel in sightThe Turkish Lira has been driven by a strong upside momentum against the Japanese Yen since the middle of August, and thus sending the currency pair to the weekly R2 at the 21.94 mark.
As apparent on the chart, the pair is testing the upper boundary of the medium-term ascending channel near 22.10. Given that the exchange rate is being supported by the 55– and 100-hour SMAs, it is expected that a breakout north occurs in the nearest future.
However, if given channel holds, it is likely that a reversal south occurs soon. Important support level to look out is the 200-hour SMA, currently located at 21.05.
EUR/TRY 1H Chart: Downside potentialDownside risks have dominated the EUR/TRY currency pair since the beginning of September. This movement has been bounded in a descending channel.
Currently, the exchange rate is testing the support level formed dy a combination of the weekly S2 and the monthly S1 near 5.9200. Given that the currency pair is being pressured by the 55-, 100– and 200-hour SMAs, it is expected that the general direction is expected to remain south. A potential downside target is the monthly S2 at the 5.5874 mark.
It is the unlikely case that some bullish pressure still prevails in the market, the Euro should not exceed the upper channel line located in the 5.8500/6.000 range.
TRY/JPY - Incoming DropTRY/JPY is currently weak and could potentially break it's bullish support and fall further down.
Place your SL above the high of the current consolidation zone.
To play it safe, one can simply place a Stop Sell order right below the 50 EMA on the 6H chart or simply the current support line to catch the move as it breaks its current support.
I would personally not risk more than 1% on this trade.
Trade safe.
Usd Try Only chart you need5.3 - 5.1 is the target. Go long with 10x leverage. Take profit after a few years
Get rich easy.
Not trading advice.
EURTRY Too Easy to Trade???Follow the trends. It pays off when trading. This pair correlates great with USDTRY, which has been a Gem for me & my network. Do you agree with my analysis? Comment Below!!
AUDTRY looking for a Breakout!AUDTRY's strong trend support line above is broken. currently in a consolidation mode looking for a breakout soon.
USD/TRY 1H Chart: Potential breakoutThe US Dollar has been depreciating against the Turkish Lira since the end of August. This movement has been bounded in a falling wedge.
Technical indicators for the 1W time frame suggest that a breakout north occurs in the nearest future and the currency pair surges towards the Fibonacci 23.60% retracement at 5.7597.
However, this advance might not be immediate as the exchange rate is being pressured by the 200-hour SMA at 5.4656 and the pair could decline to the support cluster formed by the weekly S2 and the monthly S1 near 5.2800.
TRYJPY: Big short opportunity.This pair has been trading on a very long term 1M Channel Down (RSI = 31.162, MACD = -4.539, Highs/Lows = -2.4883, B/BP = -6.1380) since December 2014. The 1W bullish sequence is approaching the 22.300 - 23.450 Resistance zone, which is a Lower High mark on the monthly Channel Down, hence the most optimal short entry. TP = 11.900.
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USDTRY possible bullish wedgeOn the left we can see a big bull flag and the wedge i have drawn as well, both of them failed. Now we have a smaller bullish wedge in the making, could also fail but the RR is way to good to ignore this one. I am trying half here at the low and the second half when it break the wedge.
A great opportunity to buy in Turkish Lira.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.
We will close our open trades, if the Midterm level 5.0000 is broken.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 33.
Trading suggestion:
There is a possibility of temporary retracement to suggested Buy Zone (5.51550 to 5.19000). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (5.51550)
Ending of entry zone (5.19000)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1 : @5.6870
TP2 : @5.9015
TP3 : @6.2090
TP4 : @6.4820
TP5 : @6.8320
TP6 : @7.0000
TP7 : @7.1200
TP8 : Free
