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TRY

TRYGBP bearish Gartely supported by long term resistanceCD leg with a 1:1 ratio with the XA leg falls into the blue region shown on the graph (which is also a confluence of the 0.786 retracement and 1.272 extension, so will look for this as an entry point . Stop loss is based on previous structure support as shown by the horizontal red line. Not only is this a nice Gartely, but we also have the entrance point on the line of long term resistance , as shown by the black line (zoom out to see more). For this reason, we may see a much larger drop than the initial price targets. RSI is nearing an overbought state.
Short
by olly_price
Trade of the day. Sell EURTRY on MACD crossoverThoughts on Chart. Although after a period of consolidation the price can go either direction, my bets are on a move down. Here are the reasons. 1. MACD crossover. 2. Downwards trending 100 MA. 3. All factors that have damaged the price have already been factored in. Unless war breaks out, I'd say a drop is likely. 4. Buying Turkish Lira pays very well. Great overnight swap. 5. Price has seems to hit resistance at 3.35 Perhaps consider shorting once price drops below support at 3.2785
Short
by maccabean
1
USDTRY: Will Long Support Result In New Heights?USDTRY is nearing Large Supports (2.91 - 2.88) and Resistances (3.00 and 3.06). It is inevitable that it will eventually break out, but to which direction? USDTRY has been in a Longterm Uptrend for years now, and if the support is broken, it may jeopardize this trend and lead to the downfall of this currency pair. I believe that gramci_2's Pitchfork concept may hold to be true and that the midterm uptrend channel ( invst.ly ) may remain strong, but in case of a breakout, it is destined to meet with Long Support. If this Support is to hold, it may result in a similar movement of last month unless the 3.06 resistance breaks (see Elliott Pattern). Else, if the support will break, I believe it will translate to a downtrend for USDTRY. Do you agree?
Long
by FDK