Bearish AB=CD needs confirmationBearish AB=CD needs confirmation, however there seems to be some fundamental problems regarding the Turkish Lira. So better be careful.
USDTRY trade ideas
TRY Short - Bear Market ContinuesSUMMMARY: Short, looks like a failed breakout and trend is for further depreciation.
-- Technical --
Price is hitting against the 50 EMA is probably fall further.
Stock RSI is slight overbought
Please HIT the --->>> "LIKE" and "FOLLOW" button. <<<----
*Not financial advice and is for educational purposes only. Always DYOR.
SO: What do you think, i? Let me know below.
TURKISH LIRATRY has been weakening against USD for a long time.
Last week, Turkish Central Bank slashed its key interest rate to 18%, and the inflation in the country is more than 19%.
From USDTRY log chart we can see the clear uptrend and the price movement is tightening forming a rising wedge. The ratio is climbing but with lower and lower momentum. RSI is also indicating to divergences.
After breaking down from the pattern, the next support areas are marked in red zones. Also, the green support line that has been keeping the price up since 2014 is indicated.
USDTRY Waiting confirmation to go short USDTRY Waiting confirmation to short
-Resistance
-Completed 5 Waves
-Waiting bearish confirmation candle before short!
Publishing it for fun and training Rising WedgePublishing it for fun and training , not a good margin but its more like a tutorial. Rising Wedge -
Target 7.638Following weekly chart.
RSi bounced from 60', this is clear short signal for me till 7.93 & and 7.638
Following 7.85 for SL
USDTRY uptrending again, broader market action likelyUSDTRY is unstoppable - so far it feels like a very shallow correction in orange w2, and this is really the last stop before Lira crashes to 20 handle.
Such moves in peripheral currencies often act as precursors of bigger trouble. Here's what to expect soon:
- 10Y Treasuries are ready to spike to above 3% (4..5% very likely),
- Crude still has to revisit single digits one last time,
- EURGBP is ready to drop 1000 pips to 0.76 or lower
- GBP is targeting 1.10.
- EURJPY should start w3 of triangle thrust, exiting a 10-year long triangle.
- EUR is on track to begin fall sharply as of the coming week, and will accelerate after payrolls.
- VIX has already tested 29, the uptrend should resume: w1~60, then w3 approaching 150, potentially even 200 is possible at the top.
Correlations tend to peak towards the middle and the end of the bearish leg of the cycle: expect all moves to happen in sync.
USDTRY Daily Time FrameIts Broken the Strong Resistance Levels wait to Retest The targets will be black Lines!
Divergences on USDTRY - Daily ChartSo I am continuing to work on identifying divergences with a focus on USDTRY. I started at 2018 on the Daily and think I need to go down to the 30 minute because are a few bearish points in the chart that don't seem to be the result of divergence. I know divergence doesn't explain every move but it's possible I'm missing something.
Let me know your thoughts.
C
USDTRYUSD TRY outbid its last time high (8.82037) last week, generating a new bullish signal.
According to the EW counting, we are in the superordinate blue wave 3 or in black wave 1 of the yellow 5.
We will see confirmation of this scenario in October, provided there is no weekly closing price below 8.64508.
In that case, you can buy the October low and hold it until January 2022.
SL below October low.
USDTRY will Flies to 9.30 in the next few months USDTRY will Flies to 9.30 in the next few months
FX:USDTRY
If turkish central bank doesnt touch it, it seems to burn like hIf turkish central bank doesnt touch it, it seems to burn like hell.. lets check this one out. I am so tired of saying that i am unhappy for myself and my country. I hate this. and this does not stıop.
USDTRY - TRY will go through some hard days!-Tapering is coming soon, dollar will gain value and currently one of the weakest currencies that will drop from these news is TRY.
-We expect USDTRY to hit 8.90000 in short-term by the december.
CB October CB cuts the rates 100bp despite of higher inflation. It was expected to happen in October session, however Erdogan gets what Erdogan wants a month earlier. That might takes it above 9 sooner than we guess.
USDTRY 1D ( downtrend) but shouldn’t break upward zone Usdtry after touching resistance zone and gettng higher record will make a strong retest to down,
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Welcome to another debt crisis in economic history 5!Conjunctural sum. Nothing has changed.
Tradingview wants me to write more about it, unnecessary.
USDTRY TECHNICAL ANALYSIS 23092021How to Calculate Andrews' Pitchfork
Andrews' Pitchfork can be easily applied to price charts without a specialized drawing tool.
Point 1: starting point of uptrend or downtrend.
Points 2 and 3: reaction high and reaction low in the uptrend or downtrend.
Point 1 = starting point of median trend line.
Distance between Points 2 and 3 = channel width.
Draw and extend a trend line from Point 1 through the midpoint of Points 2 and 3.
Draw and extend trend lines from Points 2 and 3 parallel with the median trend line.
Change Pitchfork slope by changing Point 1.
from investopedia
NO INVESTMENT ADVICE...
Signs of reversal: Divergencein terms of technical:
divergence trade heere may be risky but reversal is obvious
fundamentals:
news about future interest rate decrease in last quarter can effect
USDTRY breakout resistanceThe price has broken the descending channel upwards.
I'm waiting for the price to consolidate and rise to the upward resistance. My goal is 8.79
Traders, if you like this idea or have your own opinion about it, write in the comments. I will be glad👩💻
USDTRY Descending Triangle BreakoutI see possible short term gains on USTRY pair, in my opinion it can cross 9.0 mark this year easily.
From technical point of view, it broke Descending Triangle Pattern and has to continue falling further up to 9.0 and above. We have a long range Ascending Wedge Pattern that has been formed since 2018, so it can retrace a bit after hitting upper green line.
On RSI we can also see breakout from downtrend, which is also a good indicator that price can go up to 9.0 and above.
