Usdtrylong
MY LAST USDTRY ANALYSIS (MIDDLE - LONG TERM )One of the most common mistakes is to evaluate the trend with today's prices. Trend lines should be extended on the same slope and prices should be monitored.
The Turkish Central Bank succeeded in pulling down the giant Bullish Pennant's Pennant a little but the orange channel had to be broken down and the closures must be under the channel in order to escape from it.
If 3.74s area may pass quickly the double top formation (3.74 - 3.52) will cancelled , we may never talk 3.50s again.(If Turkish interest rates do not rise too much )
So if 3.74s area may pass quickly and hold over 3.74 , i guess we can see pro gamers are starting to wake up .
But i guess everybody want to catch big leaps short time like between 09.2016 - 01.2017, Watch the bollinger bands will go on for a few days in a very very narrow range . That's the signal you need.But be sure it is not a downtrend's signal.
WOLFE WITH FIBONACCIIn the long run, USDTRY is under the influence of the rising trend and we support it when we combine wolfe 1 and 4. But the formation of resistance and consolidation zones can keep the investor waiting. On the other hand, So the value given to 0.618 is ideal for me to first sell or gradual sell .
Price heading to a possible PRZ!USDTRY is in a very strong uptrend since ever :) And looks like it is correcting, and getting closer to a possible PRZ, where i am looking to go long for a trend continuation trade.
Like if you agree, follow and support!
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