I'm waiting for USDTRY parity a fix soon. this is my idea, not recommended.
Back in 2018 I made a killing on TUR puts when there was a bank run on the Turkish Lira. Could happen again this weekend. Threw all my profits from today into TURd puts. This could be a double top though.
The Short to M/T"s crucial level is 8.5, sustain trading above this level we may see 9 or higher. Failure to comfortably penetrate up and sustain trading above 8.5 leads to 6.5 area during the coming months.
I posted a monthly chart for the Dollar a few months back that showed the Dollar will continue to lose value in the future. This will obviously not happen overnight, but I expect over the course of 2021 the dollar will continue to it downtrend. Looking at the Turkish Lira monthly chart, we see bullish divergence, and several indicators showing strength. If you...
U.S. Dollar / Turkish Lira Daily Chart The L/T trend may show an all time high in the corner. Elliott Wave count may support this scenario.
U.S. Dollar / Turkish Lira Monthly Chart Has the Lira achieved a historical bottom against the US Dollar? The chart pattern and a possible Elliott Wave count may suggest so.
Just for shits and giggles. Be careful out there. Never trade with leverage, always seek professional advice - or better be your own trading/financial advisor.
USD TRY shouldn't close today above 7.1 for a lot of technical reasons I cannot possibly mention here. Let me just say that there should be a ton of resistance there. Right now it is surprisingly holding very close to the top. If it doesn't close and spends a few days in this area the possibility's become increasingly bullish. In the event that it closes above...
🔸 Ceilings and profit taking I am starting to unwind partials in the USDTRY longs with all of these moves so full of energy in the current chapter it wont be long until the retailers and bloomberg crowd are on board. There is lots of thunder and lightening across the global economy, Turkey will catch more than the sniffles but it is prudent we stick to the plan...
topped out, great potential for usd retracement profit taking shorter/mid time frames 7 - 7.3
Latest CFTC COT positioning data on Gold futures actually shows hedge funds took down long positions, and upped the shorts - albeit very marginally and still net long. In the retail world, at the very top of the list of largest ETF inflows was GLD at +$3.6 billion for July, bringing the YTD net inflow total to a record $20 billion. Add in a down dollar and US...
I am following this crab harmonic about 6-12 months. Doing so well till now ...
EU sanctions to Turkey aren't good for the currency. If it drop below 0.14527 support, which isn't that strong, it will fall to 0.14450 and lower. 🎯 0.14450 / 0.14400 / 0.1435 / 0.1427