USDTRY Shortgoing to take a punt here
- Happy to lose a little here ;)
- profit was good long, will risk 3% of yield at price discovery spec
- Volume Profile favours `gravity
TRY
13/08/2018 TRY/USDTRY continues falling aganist USD due to Turkey’s financial meltdown.
www.bloomberg.com
A great opportunity to buy in Turkish Lira. keep your eye on it.Midterm forecast:
5.0000 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 5.0000 is broken.
Trading suggestion:
There is a possibility of temporary retracement to suggested support zone (5.9300 to 5.6450). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (5.9300)
Ending of entry zone (5.6450)
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 :
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 88.
Take Profits:
TP1= @ 6.0000
TP2= @ 6.2100
TP3= @ 6.5600
TP4= @ 7.0000
TP5= @ 7.1200
TP6= Free
Previous Trade Setup:
We opened 4 BUY trade(s) @ 4.7302 based on 'Trough (Valley)' entry method at 2018.07.09.
Total Profit: 22017 pip
Closed trade(s): 5354 pip Profit
Open trade(s): 16663 pip Profit
Closed Profit:
TP1 @ 4.8035 touched at 2018.07.11 with 733 pip Profit.
TP2 @ 4.9225 touched at 2018.07.12 with 1923 pip Profit.
TP3 @ 5.0000 touched at 2018.08.01 with 2698 pip Profit.
733 + 1923 + 2698 = 5354 pip
Open Profit:
Profit for one trade is 6.3965(current price) - 4.7302(open price) = 16663 pip
1 trade(s) still open, therefore total profit for open trade(s) is 16663 x 1 = 16663 pip
A great opportunity to buy in Turkish Lira. keep your eye on it.Midterm forecast:
5.0000 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 5.0000 is broken.
Trading suggestion:
There is a possibility of temporary retracement to suggested support zone (5.9300 to 5.6450). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (5.9300)
Ending of entry zone (5.6450)
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 :
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 88.
Take Profits:
TP1= @ 6.0000
TP2= @ 6.2100
TP3= @ 6.5600
TP4= @ 7.0000
TP5= @ 7.1200
TP6= Free
Previous Trade Setup:
We opened 4 BUY trade(s) @ 4.7302 based on 'Trough (Valley)' entry method at 2018.07.09.
Total Profit: 22017 pip
Closed trade(s): 5354 pip Profit
Open trade(s): 16663 pip Profit
Closed Profit:
TP1 @ 4.8035 touched at 2018.07.11 with 733 pip Profit.
TP2 @ 4.9225 touched at 2018.07.12 with 1923 pip Profit.
TP3 @ 5.0000 touched at 2018.08.01 with 2698 pip Profit.
733 + 1923 + 2698 = 5354 pip
Open Profit:
Profit for one trade is 6.3965(current price) - 4.7302(open price) = 16663 pip
1 trade(s) still open, therefore total profit for open trade(s) is 16663 x 1 = 16663 pip
TRY - The only thing that mattersThis is really contagious. After the news about Turkish banks’ swap, the panic spilled over to other EM pairs. USDZAR traded up to 15.70. USDMXN rose to 19.35. This panic has caught attention of some Asian central banks.
USD/TRY oversold DeMarker Chart the S&R wait for the breakdown and fractals and MTF ema tux confirmation
Turkish LiraThis is not a trading advice.!
Just my opinion about turkish lira in couple of months, maybe more close.
TRY - No Help from ErdoganErdogan speaking publicly for the first time since the TRY rout started (years ago).
His comments are not being appreciated by the markets. Quite a closed mind it seems, and an aggressive posture against
the international community. This will only exacerbate capital flight from Turkey.
THE MOMENT, WHEN THE TURKISH LIRA BECOMES A CRYPTO ASSETNothing needs to be said guys, it is just sad watching this. 6% loss just today.
TRY Driving Flight to QualityThe 10-year Turkish government bond yield rose 24 basis points to 19.91%, a record high. The ECB is starting to worry about European bank exposure to Turkey, which is on the brink of hyperinflation due to Erdogan's dictatorship. Capital is fleeing the country and the market is showing a flight to quality today with aggressive USD buying and Jpy buying.
Bullflag > Turkish PresidentHello guys, hope you're doing fantastic! ;)
In this special analysis, we look at the fundamentals of what is going on with the Lira, why it's losing so rapidly in value, and also the big picture on the weekly chart. Have fun watching! ;)
If you had some value from my analysis, make sure to like & follow me so you don't miss it next time, I'm doing Daily Crypto Analyses!
About myself: Global citizen & early Bitcoin adopter from Germany. I invested in the 2nd rally from 50 to 1.000 Dollars in BTC.
USD/TRY 1H Chart: Pair is strongly overboughtThe last four weeks have been profitable for USD/TRY bulls, as the US Dollar has appreciated by 20% against the Turkish Lira. This upside momentum intensified mid-July when the 55-hour SMA provided enough support to guide the pair towards a new peak at 5.40.
Given that this level coincides with the upper boundary of three ascending channels, it seems that the Greenback might be ready to give up its strong position, at least in the short term. In addition, technical indicators are located in the strongly overbought territory which should soon make this up-move unsustainable.
Thus, it is expected that the pair’s direction during the following two weeks would be south down to the 55– and 100-period (4H) SMAs and the medium-term channel at 5.05.
$EURTRY intervention risk high. Spiral looks prettyEURTRY intervention risk high. Spiral looks pretty
End OF State Of Emergency In Turkey.. Turkish Lira Can Rally ?When we look at the chart with the emergency states we can see that the rally started after this.
Maybe with end of it. This can rally to 50 week Moving Average.. Lets watch carefully this fundemental analys.
Good Luck..
USDTRY bearish below 4,98 levelHello traders,
The TRY has dropped over -3,5% against some majors, over 1800 pips in less than 2 hours, since Turkey´s central bank has hold the interest rate level at 17,75% unexpectedly.
After the huge spike of the USDTRY, now it is pulling back after being unable to break the 4,98 level for the third time.
Even though the USD is experiencing a huge spike thanks to the positive fundamentals, the USDTRY remains bearish below 4,98 due to:
- RSI divergence.
- 4,98 resistance level.
Enjoy your trading!
Check my previous forecasts:
JPM
Brent
EURUSD
Channel Down on 1D. Short.TRYJPY is on a 1D Channel Down and due to its multi week consolidation (RSI = 47.127, ADX = 17.384, Highs/Lows = 0000) it is near pricing its Lower High. We are short, TP = 21.564.
TRY/JPY 1H Chart: Target set for 24.50The TRY/JPY exchange rate has been consolidating in the 22.6140/24.6060 range since the beginning of June. Its bottom boundary was tested last week. The Lira has since appreciated slightly and moved past the monthly S1.
This up-move has allowed the rate to reach a medium-term channel. This pattern has remained intact, reinforced by the 55-, 100– and 200-period (4H) SMAs. However, it should also be noted that the pair has nevertheless remained trading along this channel. This shows that the Lira might be ready to surpass the given resistance cluster and target the upper range line at 24.6060.
There is another important resistance level formed by the monthly PP and the 55-day SMA at 24.00 that could hinder the pair for a moment.
