USDTRY : (UPDATE) Falling will seems to continue for a whileThis chart is an update to the USDTRY analysis below dated May 28, 2018.
As you can see in the H3 chart, falling will seems to continue for a while.
The target price is primarily 4.41xx and then 4.37xx
It is necessary to pass the 5.50 for rising trend again
***This information is not a recommendation to buy or sell. It is to be used for educational purposes only.***
I'm sorry for the impaired expression..Just watch the chart, not what I write. :)
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USDTRY : Falling will seems to continue for a while (May 28, 2018)
TRYUSD
Turkish Lira gave a devaluation signal on the monthly chartTom Demark count gave a green 2 on the monthly chart. This is a clear buy signal. This happens very rare on a monthly level. Green 2 on a monthly chart means we will have up to 7 months of uptrend.
Weekly and daily charts confirms this as well.
Previous ATH was 3.94320, I expect this will be broken soon, as double tops near ATH are unicorns.
In the upcoming weeks or months a major devaluation of Turkish Lira is possible.
TRYUSD - 12 Sept. 2016 - LONG TERM BUY TRADETrading the S/R Zones
Trading Rules:
All S/R Zones has power to reverse the trade, but once broken with a closing candle Support zone will become Resist zone, and Resist zone will become Support zone.
Only trade when levels in zones are touch for the first time with a 1 hour engulfing candle to confirm the reverse.
Do Not chase price, let the price come to the S/R zones before entries.
S/R levels between zones can be use as Take Profit or stop lost location.