EURTRY trade ideas
Short EURTRY for a few weeks and possibly longer.I have been waiting for this setup for a while. EURTRY pays a 10% annual swap fee, roughly.
Do not try to leverage a position like this.
Euro is a better way to play the Turkey long, as Euro funding rate is higher.
Please beware this is more risky than a usual FX trade because it is emerging market currency in a strong downtrend.
Disclaimer: Not a financial advisor, this is a public trading journal and educational tool. This means I am not recommending you buy or sell anything. I am only showing you what I think will happen and what I am doing. By viewing this statement you have been fully informed that the opinions in these videos, if acted upon due to your own willingness, could lose you money.
Looking to do professional analysis and create ideas for professional traders, banks or hedge funds with investment capital above USD 1million. I have been trading the Euro 0.16% and stock indices for 50+ hours a week since 2011.
SELL EUR/TRYi think the price will go down to the targets down. the sl is close 2 4h candle above the last high. good luck to everyone.
Time to SHORT "EUR/TRY" (Bearish Butterfly + Divergence)I see bearish butterfly on the weekly chart + bearish ab=cd on the daily chart in addition to these harmonic signals, rsi and macd gives bearish divergence on daily chart so it is a very good oppurtunity to short FX:EURTRY
My target is around 4,512-4.568.
Stop loss:4,747
Have a nice day.
Mr. Berk
EURTRY - a case for trend continuation-Strong trend, would take price into new all time highs
-15 Week continuation cup and handle
-Significant retests of boundary
-Price has since turned down, but is worth watching for an symmetric risk/reward trade
-Very similar pattern forming on GBPTRY worth looking at also
-Looking to establish 100 basis points of risk in two tranches
Also see youtu.be for a fantastic educational video on the cup and handle as a continuation pattern by Akel Kibar, an esteemed classical chartist
EUR/TRY MASSIVE DOUBLE TOP RSI DIVERGENCE ON THE WEEKLYThis will be a massive setup and a great swing trade, looking to go short and hold this trade for a very long time.
It's time to fallEur is loosing it's steam and the price of this cross is unsustainable without a strong EUR
A long term market pressure (-4.2) confirm the downtrend
a long term market pressure (-8.2) confirm that the trend is already started.
A really good positive swap will help the fall
EURTRY potential reversal to downsidePrice action shows the buyers are loosing commitment to push price above the indicated resistance level for the past few weeks. The RSI is also showing divergence to the downside which means the previous buying momentum that was driving the uptrend is weakening, indicating in advance that a reversal may be looming. The other factor weighing in that will encourage sellers is the interest rate differentials between the EUR and TRY, the interest rates are heavily weighted in favour of buying TRY and selling EUR. For those that don't understand how interest rates are linked to currencies, a strategy used by businesses and financial institutions is to borrow money in the lower interest country and invest those funds in the higher interest rate country, making a profit from the interest rate differential, so in this case it would be favourable to sell the EUR and buy TRY, this applies downward pressure on this pair. All these factors are weighing towards a potential downward reversal however price action confirmation would be needed before entering a trade. Offcourse, all this could be wrong and it's just a consolidation before the next up move.
What for a Break out EURTRY Analysis February 8, 2018What for a break out probably below the middle BB and short with targets below 4.4
Will TRY down with Global Equties Sell Off?If Turkish inflaion is contained then continued economic growth should keep demand for TRY intact. Most important is the Private USD and EUR financing by the Turkish Private Sector should be contained. If contained then it will give stability and room for CBRT to maneuver.
