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Usdtryshort

USDTRY- SELL and SELLI know it's scary, and the reasons are clear. The Turkish Central Bank actions under high inflation and the response by the leadership has placed the financial market community in a rage and fear mode. However, herd mentality does not always pay, and as shrewd investors, we should take a logical approach to the market. Use technique and a dose of common sense. The USDTRY no doubt has declined in value 40% and during the month 20%. No doubt due to the fundamental state and the show stage. The reality is, we have RSI 96.5 Daily chart, and way above the BB. The weekly chart same, RSI almost 92.0 and also way above the BB. The steepness of the move up is to sharp and steep, and no commodity, currency or anything that is traded, can remain being that way, unless the authorities change the currency and replace it with something else. However, this does not happen often, and in doing so, there will be an exchange of value to replace. Anyway, this is not what we should expect, and I feel the central bank may change course completely, and increase interest rates suddenly in large scale. During the time of the EMS the French central bank defended the Franc by raising interest rates to 1000%. That is why, be careful in shorting the TRY as it can correct swiftly in the same magnitude as it has lost its value. The true value is not current 12.65, and rather 10.05 is where it should go to and then the market can re-access the direction. Strategy is simply, sell anywhere 12.00 - 13.00 in small increments and the average will pay-off big time. Remember, interest rates are still high and can increase without warning. Inflation is near 20% and having a real interest rate below inflation rate is uncommon. The devaluation will help Turkey also to bring in tourist money as this is extremely cheap place to go on holiday now.
Short
by peterbokma
4
USDTRYon monthly frame with Fibonacci level we will find that 13.01 represent strong resistance , last two month the government let the currency fail without any intervene , am sure the Turkish national bank will start offer new government bonds to contain the situation , its a good time in my opinion to short this pair while retail start getting heavy long position , this is risky but am willing to short it ,especially that i know the government control the national bank and its gonna try to put the crisis into bed before any further political damage with election in sight
Short
by Adel_Tunisi
USDTRY - PLEASE SELL SELL ONLYI know what you think... a 9.8% move just one day. As said before, small increments selling USDTRY, but I fully understand the rocket move we are facing. The Daily RSI 97.0 now (unheard of) and Weekly almost 91.0. The last time this happened, the correction was 2.5 points, so the 10.13 objective is still valid. The same happen with USDITL and DEMITL long time ago. Capital outflows due to capita restrictions rumors etc were causing the market scare with similar RSI and price movements. I do not change view and see this as opportunity albeit a small position only as its scary movements no doubt.
Short
by peterbokma
2
USDTRY - SELL SELL SELL SELLI remember very well the time that USD vs. Italian Lira and it's DEMITL cross for way out of boundaries when it came to RSI and trading bands. The Turkish Central bank cut rates once again as a note, but if one views the forward points, the positive carry (IF LONG TRY) is rewarding and make the SHORT SELL worthwhile consideration. The move by the Central bank shows they are easing, whilst inflation rate is extremely high, and for that reason it scares the market. Comparing Italian Lira era, we are in a similar faith under extreme overbought conditions, and no matter how horrible it looks, gravity will take care eventually. SELL and SELL USDTRY at current 10.75 - 11.25 for corrective objective 9.4200. No stop-loss I feel is warranted here, but ensure careful positioning with low leveraging.
Short
by peterbokma
1
#USDT Dominance Bearish! ALTCOIN Pump Incoming?First of all this is the first time I am sharing a chart on USDT.D I finally decided to share this strategy with you all:- USDT Dominance is a good index to keep track of Altcoin trades. It's inversely proportional to the growth in ALTCOINS and BTC in general. If USDT.D Pumps it literally means all the money from BTC and ALTCOINS are moving into USDT which eventually leads to corrections in the market. IMHO you must always use this indicator for trading altcoins for the short-mid or long-term trades. Let's get to this Chart:- In this chart, you can see USDT.D is broken down and had a pump to retest the bearish flag. Which leads to some bleed in the market. I am sharing this secret with you because you are a member of this beautiful Cryptorphic Family! I want you to become a better trader and save yourself next time from getting rekt!! Hope you liked it, if you did do hit that like button and share your views in the comment section! Thank you #PEACE
CRYPTOCAP:USDT.DShort
by Cryptorphic
24
USDTRY 8.12199 + 0.5% LONG IDEA * BREAKOUT , PRICE ACTION & STRUHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE DOLLAR / TURKISH LIRA . * follow your entry rules on entries * significant moves with the bears change the plan. lets see how it goes. many stars must align with the plan before executing the trade, kindly follow your rules. HAPPY TRADING EVERYONE & LET YOUR WINS RUN... _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES RISK-MANAGEMENT PERIOD - INTRA - DAY TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Long
by PULEMokhothu
USDTRY 8.07605 + 0.16% SHORT IDEA * PRICE ACTION & STRUCTUREHELLO EVERYONE HOPE EVERYONE IS DOING GOOD HAVING A GOOD ONE IN THE MARKET THIS WEEK, HERE'S A LOOK AT THE DOLLAR / TURKISH LIRA . * follow your entry rules on entries * significant moves with the bears change the plan. lets see how it goes. many stars must align with the plan before executing the trade, kindly follow your rules. HAPPY TRADING EVERYONE & LET YOUR WINS RUN... _________________________________________________________________________________________________________________________ ENTRY & SL - FOLLOW YOUR RULES some rules on exits & entries hope they help. 1. look at structure be it descending channels, pennants and so forth basically price action whats price doing. 2. If you use indicator determine does it align with your play e.g is it overbought/oversold where there market is it in a pull back to structure or continuing does price alighn with your indicator. 3. entries from 30M , 1H, 2H & 4H time-frames the higher the time-frame the more likely it will end up swing or long term. 4. aggressive trades can be executed on the pull back / or at ranges of structure that's when you are a scalper or your trade are Intra - day based 5. price action must definitely align with the plan.' 6. structure definitely 7. FIBONACCI EXTENSIONS AS GUIDELINES FOR SL & TP'S . 9. CANDLE STICK PATTERNS. That's basically entry & exits plan basic guide lines RISK-MANAGEMENT PERIOD - SWING TRADE __________________________________________________________________________________________________________________________ If this idea helps with your trading plan kindly leave a like definitely appreciate it.
Short
by PULEMokhothu