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Usdtryanalysis

USDTRY LONG!!Beautiful Chart. Please note that by tradition a descending triangle is bearish. Wrong, the context (point in chart) should never be overlooked. In that, if it's at a top it should be traded with extreme prejudice for going short and at bottom of a trend the opposite . Furthermore, even at bottom sometimes they fail. Now this chart is showing strength with the quad bottom setup having bounced off this support area 3 other times this should be four.. Please see candle stick prediction (hot pink)
Long
by UnknownUnicorn22383955
#USDTRY LONG.. We have been observing a horizontal trend for a while in USDTRY.. In the four-hour chart, we see the ascending triangle pattern.. The falling wedge pattern is clearly noticeable in the RSI, and if the pattern works, the upward price movements may harden and the peak point of 7.20 can be tested.. Also; I think the reference values (54) and (45) in RSI are very important in the short term, these values ​​can be considered as an important indicator in terms of price movements.. Moving averages (ma5, ma8 and ma13) and gator are about to return to positive, it seems highly likely that the correction wave will remain short again.. My personal opinion; In the direction of price movements in USDTRY, the impingement will show a sharp upward break after a while and 7.20 peak point will be tested in the near future.. Disclaimer: Not investment advice.. Please do your own due diligence when it comes to forex-trading.. Invest at your own risk.. I wish you all the best..
Long
by OguzhanSengor