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JAPANESE YEN / TURKISH LIRA

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JPYTRY trade ideas

Trading Signal: TRYJPY Pair - Sell OpportunityDear Traders, We have identified a promising trading opportunity on the TRYJPY currency pair based on our advanced analysis with the EASY Quantum Ai strategy. Here are the details for this trade signal: Direction: Sell Enter Price: 4.151 Take Profit: 4.10566667 Stop Loss: 4.18966667 Justification for This Signal: 1. Technical Indicators: Our technical analysis reveals bearish patterns, such as descending moving averages and resistance at the Enter Price level of 4.151. These indicators suggest a downward trend continuation. 2. Economic Factors: Recent economic data from Turkey shows weakening fundamentals, including lower GDP growth forecasts and rising inflation rates. Coupled with stable economic performance in Japan, this disparity likely exerts downward pressure on TRYJPY. 3. Momentum Analysis: The EASY Quantum Ai strategy identifies weakening momentum for the Turkish Lira against the Japanese Yen. A bearish momentum suggests that sellers are currently in control, making it opportune to capitalize on this move. Risk Management: - The Stop Loss is set at 4.18966667 to limit potential losses in case of an unexpected market reversal. - The Take Profit level is strategically placed at 4.10566667, ensuring a favorable risk-to-reward ratio for traders. Please note that while this signal is based on comprehensive analysis, trading always involves risks. Ensure to manage your portfolio accordingly. Stay updated for any further adjustments or market changes. Happy Trading! Kind regards,
Short
by ForexRobotEasy
the end of the slope from this mountain is not yet visible?Regional activity of Mr. Erdogan with a multiply vector of conflicts between Syria, USA, Russia and other countries borders with Turkey is a main theme for further depreciation of TRY. President Joe Biden became the first US president to officially recognize the massacre of Armenians under the Ottoman Empire as a genocide. This is a new risk. Not legal and financial advice; Any information provided here is only the personal opinion of the author.
Short
by AlpacaBlack
High Risk, Long Term Carry Trade! TRYJPY!This is my high risk, long term carry trade for 2023 (opened in 2022, looking to add to my position further). The swap rate is very attractive - to provide some insight, I have received a 3% account increase since opening my first long position in 2022, through daily interest receivables. The Fundamentals... Turkey has potential. Exports are climbing. The country needs more stability and greater global confidence - Turkey is greatly lacking both. I believe that the currency is so heavily short, that any sign of monetary policy change could cause the Lira to rocket. Potentially creating some large volatile upside moves. With the possibility of a global recession, the Lira could also see buying momentum, as emerging markets often perform well during times of international recession. Current Technical Reasons... Price is nearing all-time lows and daily horizontal support. TRYJPY is also testing bearish channel support area. Don't get me wrong, the Lira could fall much further - it has been in extreme decline for around 15 years! This is considered a high risk trade.
Long
by Samuel_Morton_Trader
1
Volume Profile Basic Shapes (Thin Profile) #4-#4Thin Profile (See Chart)- Indicates a trend One side of the market is very aggressive No time to accumulate volumes Volume clusters within the thin volume profile In Forex- most of the time with major pairs- means imbalance which is a great trade to do apposite of that move, in minor Forex pairs means very little liquidity and volume and means harder to trade due to the lack of big banks and hedges involved with a particular pair.
Education
by Anbat
5 steps for building technical analysis by time framesYou sometimes ask me how I structure my forex technical analysis. Today I will share 5 simple steps that I go through myself to determine the direction of the price. So. Step 1 - start with a large TF to analyze the global price movement and mark major levels. Step 2 - Go to Week 1 TF to find major trends and recurring items. Step 3 - I use the daily timeframe to mark strong trend lines, find patterns and determine the approximate entry area. Step 4 - then I use the 6h 4h and 1 hour timeframes - this helps to clarify the last price movement and pay attention to small trades. Step 5 - minute TFs to test your hypotheses and find an entry point. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Education
by Lingrid
29
FUNDAMENTALS OF SUCCESSFUL TRADINGHello traders! Trading on the stock exchange is much more than just making deals. This is a whole algorithm of actions, following which we consistently achieve success. Trading does not start with the opening of a trading session. Trading starts with preparation! Fundamental preparation - studying the laws of the market and trading rules. And daily preparation - fixing the result, market analysis. We must approach trading with confidence, without succumbing to emotions: remember the importance of risk management, not risk assets and always use SL, not make rash decisions on transactions. Finally, trading does not end at the end of the day. After the end of the session, we must analyze our work and, if mistakes were made or assumptions did not work, adjust the plan and strategy for the next day. Completing all stages of the work will ultimately bring good benefits! Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Education
by Lingrid
10
The most liquid Forex currency pairsThe liquidity of a currency pair in other words is the ability to liquidate any amount you need (sell, for example) when you need it, without tangible loss of time and income. The higher the liquidity of the pair, the more reliable and attractive it is for trading. This implies that there is strong demand and high supply for this asset. The higher the liquidity of the market, the faster you will be able to complete a deal on the position you are interested in. The price in a highly liquid market moves gradually, in small steps. Less liquidity leads to large price jumps as well as gaps in the chart. What major currency pairs do you work with? Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Education
by Lingrid
17
Investment sessions on FOREX I am sure you already know that the Forex market works around the clock. However, when a trading day ends in one part of the world, it begins in another. Therefore, it is customary to talk not about a trading day, but about a trading week. Well, within one day the market is "divided" by investment sessions. Investment sessions are the working hours of banks when they are actively involved in investment activities. There are four main investment sessions that correspond to regional markets: Australia (Sydney), Asia (Tokyo), Europe (London), America (New York). Sessions go one after another, some of them "overlap" each other. Currency activity often depends on what session it is. For example, the yen will be more active during the Asian session, and the euro - during the European session. Knowing the schedule of sessions, you can adjust, use your time rationally and increase your trading efficiency. Traders, if you liked this idea or if you have your own opinion about it, write in the comments. I will be glad 👩‍💻
Education
by Lingrid
9
A few rules about HARMONIC PATTERNSMy last post-learning about patterns got a very lively response. I realized that this topic is interesting to you. In the messages, I was also asked to talk about the "Harmonic Patterns" or, in other words, the Gartley patterns, which got their name thanks to the first who discovered them on the charts - Harold Gartley. What do you need to know about these patterns? A) They consist of 5 points - X, A, B, C, D. In a bullish scenario, point X is the lowest, in a bearish scenario, it is the highest B) harmonious patterns are based on the ratios of Fibonacci levels. The most important ratios are 0.382; 0.618; 0.5; 0.786; 1.127; 1.618; 2; 2.618. The closer the pattern is to the ideal aspect ratio, the more accurately it predicts price behavior. C) patterns can be found on any available TF and on the chart of any underlying asset. 1. AB = CD This is the basic pattern found in all other patterns. The main condition for its formation: the CD segment is equal to the AB segment - that is, the price ratios are equivalent (expressed through Fibonacci). • Value of the correction level BC - 0.618, • The value of the CD line is 1.272. 2. Gartley butterfly Reversal pattern that gives the best result on the higher (from H1) TFs. In this case, the following ratios of quantities must be observed: • AB - segment 0.786 from XA • BC - from 0.322 to 0.866 AB • CD - from 1.1618 to 2.24 AB / 0.382 from BC The CL for this pattern is determined by entry point D. 3. Bat Also formed by another harmonious AB = CD pattern. However, in this case, it requires little recalculation due to expansion. And this is the first thing to pay attention to: CD - 1.27 from AB. Otherwise, the ratios of quantities are determined as follows: • AB - segment 0.382 / 0.5 from XA • BC - from 0.382 to 0.886 XA; • CD - at the level of 0.886 from XA. 4. Crab The location of the values ​​on the chart is as follows: in a "bullish" chart, the maximum is point A, the minimum is point D. In a bearish chart, the opposite is true. • AB - from 0.382 to 0.618 from XA • BC - from 0.382 to 0.618 from AB • CD - 2.24 to 3.618 from BC 5. Shark The aspect ratios are as follows: • AB - from 1.13 to 1.618 from OX • BC - from 1.618 to 2.24 from AB • CD - from 0.866 to 1.13 segments from O to B. Please share with me if you use harmonic patterns in your trading? Which ones do you use, what results do they bring?
by Lingrid
24
Risk Management - how not to lose your moneyLet's say you're new to trending. You have a deposit - for example, $ 10,000 - which you are ready to invest in earnings. And you come to the market with one thought - how to make more money! Stop! The first question that you should ask yourself before starting trading is: "How not to lose the money you already have?" Risk management will help you with this. There are many different "chips" and rules in order not to drain the deposit (and we will definitely talk about them in more detail). But today I want to discuss the most important rule: setting a risk limit. Different traders will give you different numbers. Someone considers the optimal risk of 5% of the deposit amount, someone - 7%. But everyone agrees that the amount should not exceed 10%. If a person tells you that you can bet more than this amount, he is not your friend. I believe that 1% of the deposit is optimal for beginners to trade. Few? No, it’s enough to make money and not enough to sell the house in case of failure. Above is a table with comparative risks - how much and how quickly you can lose depending on the percentage. I'll take $ 10,000 as an example. In this case, 1 percent of this amount will be $ 100. $ 100 is 0.1 lot to open a deal. This means that 1 pip on the chart will cost us $ 0.1. Maximum drawdown is the number of points that the price must go through in order for us to lose money (or, conversely, to earn). For example, the EURUSD currency pair can pass 1000 points per day. As you can see in the table: trading with an acceptable rate of 1% in case of failure will deprive us of only $ 100 10% - already $ 1000. 100% - all $ 10,000. Yes, if we succeed, we will be in the big plus. But the risk also increases. If you are a beginner trader, don't risk your capital. Open deals starting from a 1% deposit. If you are experienced... You can assume that I am conservative, but I also advise not to use more than 1% of the deposit. However, you are free to choose the percentage that is safe for you based on your background and strategy. ______________________________________________________________ Share with us what risk limit do you use in trading? Why choose this one? What other risk management rules do you want me to talk about?
Education
by DeGRAM
16