USDTRY before 6% decrease... The figure shows two lines of drawing. One shows the fractal itself. From this it can be seen that the current motion can be an inverse fractal. In terms of size, it is the size of the first fractal. The second drawing is the decreasing wave that is visible after the momentum gain. This also confirms the theory of halved fractal. Consequently, the presence of Turkish lira moves in an increasing trend. The target price is 5,5241 usd.
Usdtryshort
USD/TRY Possible Bearish Pennant FormationSee linked idea below with commentary. We got trendline break and consolidation. Bulls appear to be exhausting; also based on bullish pennant forming I would expect to see further push to the downside; trade at your own risk and use proper risk management. This trade is for demonstration and educational purposes.
USDTRY 1:4 Risk Reward SHORT (Fundamentals)If you get involved in provocative acts, saying ‘foreign currencies will strengthen, this will happen, that will happen’, you will pay a very heavy price - Erdogan
TRY
Fundamental Quant Score +60
USD
Fundamental Quant Score -4
Investors seek reforms, fear populism
Lira initially weakened 2.5 percent
Shares rise 1 percent (Updates lira, adds London swap rates, dollar bonds)
USD/TRY: Swing-Setup! FAN-Principle and your chance to SELL!#Hey tradomaniacs,
welcome to another free signal!
Important: After the consolidation and the Breakout we still trade against the trend!
Make sure to trade with less risk as possible and don`t get greedy! ;-)
The sell-off or Breakout is caused by the FEDs statement saying they won`t increase
the interest-rate this year anymore and stop the balance sheet reduction until october!
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Type: Swingtrade
Sell-Stop: 5.41453
Stop-Loss: 5.46309
Target 1: 5.35424
Target 2: 5.32466
Targt 3: 5.28447 - 5.27513
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Peace and good trades
Irasor
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