USDTRY
USDTRY 1HUnder dotted line SELL to get target RED line
Above dotted line BUY to get target BLUE line
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USDTRY USD TURKISH LIRA - BULLISH DIVERGENCE ON Daily ChartUSDTRY USD TURKISH LIRA - BULLISH DIVERGENCE ON Daily Chart
USD/TRY BULLISH FALLING WEDGE PATTERNNow it forms a bullish falling wedge pattern and it will complete the wedge, breakout and will go bullish back to 7.50-7.55 levels and probably stay there and turn it into support.
USDTRY 1HUnder dotted line SELL to get target blue line
Above dotted line BUY to get target red line
Turkish lira to break long term depreciation trendIt is pretty debatable but lira may hit an ATH or at least lira had a local top. The fundamentals are bleak or against the lira but US dollar's depreciation has a limited impact on the trend.
Moreover, Wyckoff's schematics, in particular distribution, supports the idea.
7.15 will be a quite important support. 6.07 and 5.12 will then be important levels to follow.
USDTRY Gearing Up For Another Impulsive Move?USDTRY has not been shy when it comes to showing off its linear trends as we witnessed staggering
growth of 89% in 2018 and 44% in one month alone in August 2018 reaching a high of 7.0831.
Price consolidated for 2 years after that and broke out in August 2020 and went on to trend to a
high of 8.5777. Price then went on a decline and is currently sitting at a cluster of support in the
form of a previous resistance level turned support at 7.2682 and the daily 200 simple moving average.
Price is currently walking up the 200sma and if this level continues to hold as support then we should
eventually see the bulls force price back up to continue the trend.
USDTRY does reward investors that have patience as the trends, once they come, usually arrives with
force and delivers fast and healthy profits.
We will continue to monitor this forex pair to see how price reacts to its current support base.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
USDTRY 1H (TRIANGLE)Sell under red triangle
Buy above blue triangle
And will get the target we marked
Good luck
Pivot Point Strategy
A pivot point is a technical indicator to identify trends and reversals in any market.
Pivot points are calculated to determine critical levels in which the price could find its support and continues in the same direction or change from bullish to bearish, and vice-versa.
We can use Pivot points to find
entry,
stops,
and profit-taking by trying to determine the psychology of the market.
When we are above the pivot point the market is bullish.
In a bullish market if we cross a resistance level the uptrend will continue but if it bounces back we can expect a trend reversal.
When we are below the pivot point the market is bearish.
In a bearish market if we cross a support level the downtrend will continue but if it bounces back we can expect a trend reversal.
USD/TRY (Elliott wave zigzag correction)Perfect Elliott wave zigzag(5-3-5) correction pattern on usd/try . now we can expect impulse move.
see my previous ideas on usd/try
1st idea
2nd idea
3rd idea
USD/TRY Turkish LiraUSDTRY had touched the support level and formed a falling wedge pattern. If it breaks through the resistance line, it will target previous high.
Best regards EXCAVO
USD/TRY found supportThis has found support at 7.24 level. Now looking to move back into the trend, resistance is at 8.00, target is 8.24866
💡 Don't miss the great buy opportunity in USDTRYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (7.298). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. USDTRY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 48.
Take Profits:
TP1= @ 7.4280
TP2= @ 7.5543
TP3= @ 7.7507
TP4= @ 7.9057
TP5= @ 8.0285
TP6= @ 8.5745
SL= Break below S2
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💡 Don't miss the buying opportunity in USDTRYShort-Term Forecast
Trading suggestion:
. The price is trying to break downtrend #1 for the second time. It will be a buying opportunity if downtrend #1 is broken.
. There was a possibility of temporary retracement to the buy zone when the price reached the suggested resistance line (7.5150) and downtrend #2.
. Traders can set orders based on Price Action in the buy zone and expect to reach short-term targets.
Technical analysis:
. USDTRY is in a downtrend. A divergence is formed, and the beginning of an uptrend is expected.
.The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 51.
Take Profits:
TP1= @ 7.7350
TP2= @ 8.0303
TP3= @ 8.3652
TP4= @ 8.5690
SL= Break below S2
❤️ If you find this helpful and want more FREE forecasts in TradingView
. . . . . Please show your support back,
. . . . . . . . Hit the 👍 LIKE button,
. . . . . . . . . . . Drop some feedback below in the comment!
❤️ Your Support is very much 🙏 appreciated!❤️
💎 Want us to help you become a better Forex trader?
Now, It's your turn!
Be sure to leave a comment; let us know how do you see this opportunity and forecast.
Trade well, ❤️
ForecastCity English Support Team ❤️
