EURTRY breakout happenedRoughly one month ago I pondered about a breakout of the turkish lira. Now it seems this scenario might happen. Breakout of downward trending line is clearly visible. Move is probably backed by geopolitical tensions directly involving Turkey and economic threats being issued by the US against the country. In the most optimistic case, we could see prices of 8 and above again. Timeframe 3 months. If price dips again under 6.20, the scenario clearly didn't play out. This is also where I would put my stopLongby cmpndngUpdated 1
Operation Peace Spring Will Be DisapproovedWhen I look at chart technically, I would gladly short. But there are strong fundaments that appear not to be fully included in the graph. UN's Security Council is meeting today and as far as I am aware, neither member agrees with Turkey's strike against Kurds. Russia and China are probably indifferent, rest of the members is high likely to stand against Turkey. What are possible scenerios? If Erdogan stops the assaults, it will be a fine embarrassment in front of public. If he continues, then sanctions are an only probable option. Technically speaking, the direction should, lira should go down after it bounces off a trend line and resistance which happens to be in the low-volume area. Given fundamentals that have already caused a move that would probably come either way, I think we will have at least a minimum of a false breakout towards point of control. I expect a reaction there. If it is an explosive move, I will just move stop loss and wait for local high to be reached again. There, it literally must react, unless Turkey completely sinks under the weight of sanctions.Longby OrcChieftainUpdated 2
EUR/TRY - Bullish Setup in a yearly symmetrical triangleFX:EURTRY *** DISCLAIMER *** Any and all commentary, research, analyses, or other information published by me on this website are provided as general market commentary, and do not constitute investment advice nor a solicitation and there are no guarantees associated with them. I am not liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from use of or reliance on such information. **************************** The price did a false breakout just yesterday and then re-entered in the symmetrical pattern (11 months old) with a long 4H candlestick. In my opinion the plan is to wait a retracement on the lower base of the triangle and wait for an engulfing or pin bar pattern, just to have a confirmation of the bullish pressure.Longby Logical_KnightUpdated 9
Long till price supported by red ascending trendlinePrice is still trading above minor ascending trendline , we are near breakout levels and long trades look more favourable , long on break above trendline on retest or from bottom of range near red trendline , uptrend valid till price is supported ... Longby AariTechPublished 22
EUR/TRY breakout imminent?After doubling from 4 to 8 in 12 months from mid 2017 to mid 2018, the turkish lira rested for a while. Currently it looks pretty "wedgy" to me, as I indicated with the trend lines. Since the country is still politically rather "shaky" there might be a breakout to the upside imminent with first target price around 8.Longby cmpndngPublished 7
Rate decisions effects on EURTRYAfter CBRT's rate decision parity start to fall. After ECB's decision, we tested new dips. But the last day of this week we are still in the same pattern. As long as we stay below the 6.35 level price movement will like to see new bottoms. 6.25 and 6.20 levels will be important in the case of continuation of the downside walk.Shortby LimitMarketsPublished 3
EURTRY shortEURTRY sell in short term. Take profit near the trend channel lower lineShortby LszlRakonczaiPublished 4
Long on Break above corrective structure..Pair is finding support from strong ascending trendline and has broken above multi days long descending tl , now we are awaiting price to retest and clear the corrective structure providing us possible long opportunities.. Longby AariTechPublished 24
How to identify impulses and correctionsAn impulse is a strong move towards the direction of the trend and the correction is a struggle in price movement at some point...This helps us in forecasting the next probable moveEducationby thesharkkePublished 4
EURTRY , Same as USDTRYEURTRY Head and shoulders ?? if u think this analysis can be useful leave like&comment ! by LaurentbakiuPublished 2
Possible BUY setup for EURTRYPossible BUY setup for EURTRY Due to forseen inverse head and shoulders entry@6.285 target@ 6.69 sl@ 6.22 entry signal needed before entry can be take at support level 6.28Longby Zama_ZondaniUpdated 5