USDTRY
USDCAD | SWING - 4 Oct. 2020Hello my friend | Welcome Back.
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After breaking the downtrend and retesting the broken area, we will notice a new rise to Fibonacci level 0.61.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
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The information given is not a Financial Advice.
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USDCAD | SWING - 2 Oct. 2020Hello my friend | Welcome Back.
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It may swing at the trend line if the trend line is broken, and it is the support that will go according to the scenario that you set.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
***
The information given is not a Financial Advice.
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Nice and clear up trend on the Turkish LiraNice and clear up trend on the Turkish Lira with many buying opportunities, I guess we'll see some corrections and we can buy when touching the lower boundaries of the Fibonacci channel and we see HH and HL on the 1H chart.
one or two years of correction aheadits hard to tell but the last wave seems like a Temporary trend.So watch the channel and becarefull bodies.
USDTRY Up 10% After Consolidating!Since posting about the USDTRY last week, price has continued to rise, handing out easy profits
so far to those investors that have added this to their portfolio.
This forex pair has been mentioned in our community leading up to our entry and as you can see,
a linear trend is starting to form.
In last week’s post, price had moved up over 7% since breaking out of consolidation. Price has since
moved up another 3% taking it to a rise of 10%.
There is still potential for further bullish moves here and the next level of resistance price may
move towards is the 8.0000 round number.
The USDTRY usually trends well and is then followed by periods of consolidation so we want to
position ourselves with compounds before the trend is over, in order to maximise our profits.
At the moment we will continue to manage our positions and lock in profits.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
#USDTRY - 200 BPS EtkisiTam burada 200bps faiz artırdık
Etkisi ne olacak? Esas sorumuz bu.
Düzeltme tetiklenirse aşağıda destek olarak 7.26
Tepe aşılırsa yukarıda 8.25 bizi bekliyor.
Right here we raised 200bps interest rate
Our main question is what will be the effect?
7.26 as support below if correction triggered
If USDTRY hit and pass the higher-high 8.25 above awaits us.
Update on USDTRY (short at 7.69)take profits will come at 7.69 before 7.79 (im updating my previous idea)
Pay Attention!
ridethepig | Turkish Lira Strategy🔸 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 - the same plan since 2018 (yes 2018).
In this position, wave 5 was an obvious impulse, because after buyers held support they could then start to promote their positions and adding to winners. The 30% upside once looked miles away and is now shining us right in the face, will sellers dare to come out? Will other sharp speculators riding this for months/quarters want to also take profits?
If buyers hold 7.82xx it will trigger the collapsing of local banks, so we make this play with a heavy heart. It would be interesting to investigate further whether we will get the intermediate highs in USDTRY, so lets leave some partials running incase we get capitulation...
USDTRY TP:7.79I'm sorry because learning curve of public is extremely slow...
we all need to suffer to learn something in the life.
luckily, what does not kill makes stronger.
Note: it's for studying purposes and it's not investment advice
USD/TRY at resistancePrice is at diagonal resistance. Broke up or rejection will be clear in 2 weeks.
If you go back enough it actually works for many years. Targets are at chart as per decision.
USDTRY Trending Strong!Forex pairs have been off the radar for some time as most of the action has been in stocks.
But here and there, certain forex pairs will pop up with opportunities and this is the reason
that we never take our eye off the ball.
You can clearly see from the chart that the US Dollar is gaining strength over the Turkish Lira
and has consistently been on the rise for a number of years now.
In 2018 alone, we saw a sudden surge in price with a rise of 89% in just 8 months of that year.
Like with most big trends, price will take a break in the form of a pullback or period of consolidation.
In this case we saw price consolidate for 2 years.
With consolidation zones, we always want to patiently wait for breakouts because we can expect
to see a strong move in the direction of the breakout.
So far, this breakout has started to trend nicely to the upside with price already up 7.3%
since breaking above resistance at 7.0831.
With a trend currently in play, we have to look at the next area price may move to and we
can see that then 8.0000 round number is above and may act as resistance.
We currently have a position in this pair and we will look to compound as long as price
continues to break previous levels of resistance.
See below for more information on our trading techniques.
As always, keep it simple, keep it Sublime.
ridethepig | Thoughts on Turkish Lira📌 The capitulation
After PA in December 2018 showed us the basing formation it has been all 'one way trafffic'
This may lead you to wonder why it is so important to understand the fundamentals and definition of current capital flows, because it is then possible to build one's whole swing around a macro fundamentally sound trade idea, that underpins the technical ebb and flow tactics.
Of course we continued to pile on longs all the way up, our confidence in the swing was building which influenced the way we were able to construct the trade and future of the operation. Here I must highlight that the move does not last for ever; a full blown +50% move in a currency crops up occasionally, in fact even more you can see the need to capitalise on these moves.
So, as we approached the start of the 'flash crash' or up in this case, the following additions were made:
Then suddenly it happens, the almost powder runs dry in Turkish local banks and we get the momentum higher. It shows how hollow and uninteresting currencies can be, very straightforward when used in the safe little world of macroeconomics. A quick update on the initial leg of the Q3 flows we were tracking live:
The final motive to clear was nat gas being discovered, the threat of continuing higher is very high and therefore logical to trade. Funding rates are casually moving higher but with no sense of urgency which of course is linked to the entire defence system for sellers at 7.80. Now it's important to load off of the previous resistance in the first leg of Q3 at 7.20, for a move into the final macro targets above at 7.80xx right on time for the elections.
Thanks as usual for keeping the feedback coming 👍 or 👎
ridethepig | TRYBuyers have made the transition towards capitulation. This leaves Turkey with a huge problem, and the process of the cleanse in local banks will continue. CBRT will defend with its 'customary inventiveness' very soon as they keep a stern eye on 7.8xx.
It is an unfortunate position that Turkey are in. We have exploited it for some time and as soon as the banking collapse makes it way onto Bloomberg and etc it's time to start looking at closing out. Well done all those who sent their troops to the buy side, a massive +30% swing so far and counting.
After the break through 6.78 it has continued to grind its way to the wearisome target. This is the real point in the manoeuvre, which forces us to stay alert and protect profits as we approach the final targets in the unstoppable macro advance. A superb live example.
Thanks as usual for keeping the feedback coming 👍 or 👎
USDCAD | SWING - 13. Sep. 2020Hello my friend | Welcome Back.
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It may open more than one candle at resistance, but it needs to drop to support, according to the chart.
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Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
***
The information given is not a Financial Advice.
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USDCHF | SWING - 11. Sep. 2020Hello my friend | Welcome Back.
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It is clear that it needs to move to the upside in case of weak resistance, it will rise with the same technical analysis chart.
***
Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
***
The information given is not a Financial Advice.
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USDJPY | SWING - 11. Sep. 2020Hello my friend | Welcome Back.
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It is clear that he needs to head towards the downside, in case he does not break the support, he will rise and break the symmetrical triangle with the same technical analysis chart.
***
Here is the full analysis for this pair, let me know in the comment section below if you have any questions, the entry will be taken only if all rules of the strategies will be satisfied. I suggest you keep this pair on your watchlist and see if the rules of your strategy are satisfied.
Remember this analysis is not 100% accurate No single analysis is To make a decision follow your own thoughts.
***
The information given is not a Financial Advice.
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The Turkish lira is on a critical spot against the US dollarBears have lost their touch and are absolutely helpless against bullish investors of the trading pair. In fact, prices are still projected to climb even higher in the coming weeks. Looking at it, the rally of the US dollar to the Turkish lira exchange rate comes despite the broader weakness faced by the greenback in the overall market. Aside from that, the concerns of investors for emerging market currencies add to the negative sentiment towards the Turkish lira. The inflation in Turkey is causing the lira to devaluate in the market, and the other problems faced by the country isn’t helping its cause. Just recently, the country reports more than 1,700 new cases of the coronavirus, raising the total number of infections to over 283,000. According to Turkish Health Minister Fahrettin Koca, the number of patients in critical continues is still rising and the situation is getting direr.
Two great Buy opportunities on this chart for USDTRYMid-Term Forecast
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (7.4086). 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 above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 41.
Take Profits:
TP1= @ 7.4086
TP2= @ 8.0000
SL= Break below S2
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Short-Term Forecast
Trading suggestion:
. There is a possibility of temporary retracement to suggested support line (7.4123). 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 above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 70.
Take Profits:
TP1= @ 7.4530
TP2= @ 7.7210
TP3= @ 8.0000
SL= Break below S2
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