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U.S. Dollar / Turkish Lira

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USDTRY trade ideas

USDTRY- BUY strategyThe market was extremely quiet, and that always makes it difficult to chose a side. Even when we have moved from 13.80 area, the market so far remains non committal to a decisive move downwards. The rumors being government intervention behind the move, and fundamentally economist still worrying strongly about inflationary pressures. Short-term market is mixed, but only long-term conditions are very overbought, but suspect we see higher first, The short-term technical picture still suggest upside potential. The MA-10 vs. MA-30 still positive, and the stochastic albeit negative seems to point upwards. We have supports below 12.30 and next 11.30, and resistance 14.08 - 14.25 and then 16.30. I remain being long 13.50-13.90 (and below) but placing stop below 12.30 for now and profit objective 16.00.
Long
by peterbokma
6
USDTRY-BUY strategyThe market is non-moving till now, and there seems to be a clear balance between BEARS and BULLS. The MA-10 vs MA-30 has crossed positive, and usually this suggest up move is imminent. The regression channel has clear defined points, and 14.16 mid-point, and support 12.36 area and a top above 15.00s. Due to the lack of movement waiting is the greatest enemy. However, we have BUY signal now, and stochastic (not shown) is negative in fact, This means buying should be between current 13.75- 13.25 and place stop below 12.36. Profit somewhere above 15.00.
Long
by peterbokma
3
USDTRY-BUY strategyThe slow movement any direction is of concern to me. I abort my SELL strategy view, as the daily chart MACD is positive now, and the 10-MA vs 30-MA looks turning upwards. It feel we see above 14.2500 > 15.50. For give me for the change in view, but I always state my opinion as per the presented conditions. The market is right no in now mans land, and since we have not see a down move, as it should have, the likely move is upwards now based on the MACD. Strategy BUY current 13.25-13.80 for a move towards 15.50. Stop-loss 12.40.
Long
by peterbokma
10
USDTRY - Long-term SELLThe USDTRY has had wild range of late, and if we look at the monthly chart, the picture suggests we should see 9.1100 GANN support objective. The current market price is above the BB top and usually with such wide difference between BB base and top, the price activity will adjust downwards when trading above the BB top. The middle BB range is 10.11, and we have GANN angle support 13.10 area as well. RSI no doubt extreme still and not corrected enough. From a long-term perspective we SELL current and higher in very small increments to ensure we don't get blown away. the objective is 9.00-9.50 at least, and stop, well depends to your risk appetite. I would add small increments on way up between 13.50 > 16.50 if seen. It is not likely to re-visit 18.00 for now (but well who is to say :).
Short
by peterbokma
21
USDTRY-SELL strategyThe slowness of move suggest that we are in a more balanced environment. The BULLS and BEARS are exchanging positions only. This suggests that we may have difficulty moving beyond 14.25 for now, and I feel that SELL strategy makes sense looking at the GANN angle resistance and the room we have to move lower. Strategy sell current 13.25-13.75 and place stop-loss above 14.25 (keep some room) and ensure small position sizes only. Profit order to be placed 10.50-11.00 once again. For LONG TERM players no stop and add on highr levels, but profit level at 9.46 for now.
Short
by peterbokma
2
USDTRY - cautious SELL strategyThe USDTRY pair starts looking tired. It does not seem to trend upwards. The 4-hourly chart starts looking negative, i.e. the 10-MA vs 30-MA turning and ikely may break. The stochastic is negative, and the DMI is flat and DMI+ below signal line. Further, providing we remain below 14.25, the chances are we move lower 10.50-10.75. Today am preferred SELL at current 13.20-13.50 and place stop-loss at 14.35. If broker, re-sell 15.25-15.50. Profit order 10.75 for now.
Short
by peterbokma
4