💡Don't miss the great buy opportunity in USDTRYTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (17.9722).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 67.
Take Profits:
TP1= @ 18.5000
TP2= @ 19.0000
TP3= @ 19.5000
TP4= @ 20.0000
TP5= @ 20.5000
SL= Break below S2
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TRY
💡Don't miss the great sell opportunity in USDTRYTrading suggestion:
". There is still a possibility of temporary retracement to the suggested resistance line (13.4582).
if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in a range bound, and the beginning of a downtrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 42.
Take Profits:
TP1= @ 13.3034
TP2= @ 13.1461
TP3= @ 13.0009
TP4= @ 12.8630
TP5= @ 12.6840
SL: Break Above R2
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💡Don't miss the great buy opportunity in USDTRYTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (14.00).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 66.
Take Profits:
TP1= @ 14.6083
TP2= @ 15.0000
TP3= @ 15.4872
TP4= @ 16.0000
TP5= @ 16.7306
SL= Break below S2
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💡Don't miss the great buy opportunity in USDTRYTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (9.5217).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 69.
Take Profits:
TP1= @ 9.6500
TP2= @ 9.7000
TP3= @ 9.8000
TP4= @ 9.9000
TP5= @ 10.0000
SL= Break below S2
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💡Don't miss the great buy opportunity in USDTRYTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (9.34192).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in an uptrend, and the continuation of the uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 77.
Take Profits:
TP1= @ 9.48182
TP2= @ 9.56259
TP3= @ 9.69239
TP4= @ 9.80779
TP5= @ 9.94139
SL= Break below S2
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💡Don't miss the great buy opportunity in USDTRYTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (8.3133).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in a range bound, and the beginning of an uptrend is expected.
. The price is below the 21-Day WEMA, which acts as a dynamic resistance.
. The RSI is at 75.
Take Profits:
TP1= @ 8.4898
TP2= @ 8.5521
TP3= @ 8.6602
TP4= @ 8.7464
TP5= @ 8.8414
SL= Break below S2
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💡Don't miss the great buy opportunity in USDTRYTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (8.6470).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 51.
Take Profits:
TP1= @ 8.7468
TP2= @ 8.7942
TP3= @ 8.9505
TP4= @ 9.1263
SL= Break below S2
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💡Don't miss the great buy opportunity in USDTRYTrading suggestion:
". There is a possibility of temporary retracement to the suggested support line (8.4295).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in a range bound, and the beginning of an uptrend is expected.
. The price is above the 21-Day WEMA, which acts as a dynamic support.
. The RSI is at 55.
Take Profits:
TP1= @ 8.4585
TP2= @ 8.4850
TP3= @ 8.5110
TP4= @ 8.5510
TP5= @ 8.5855
SL= Break below S2
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💡Don't miss the great buy opportunity in USDTRYTrading suggestion:
". There is a possibility of temporary retracement to suggested support line (8.24484).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in a uptrend and the continuation of uptrend is expected.
. The price is above the 21-Day WEMA which acts as a dynamic support.
. The RSI is at 76.
Take Profits:
TP1= @ 8.31443
TP2= @ 8.36158
TP3= @ 8.39922
TP4= @ 8.44257
TP5= @ 8.48527
TP6= @ 8.60000
SL= Break below S2
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USD/TRY PA AnalysisUSD/TRY Chart for educational/study purposes. It's not an investment advice. Made an analysis of this pair months ago, you can check the chart here:
USD lost value against Lira for months and ignored several demand zones until the yearly pivot. At yearly pivot, buyers kicked in with significant buying pressure and the price made a significant reversal thanks to DXY. Will see how it plays out.
Dollar/Turkish Lira - Important Technical Analysis UpdateMidterm forecast:
While the price is above the support 7.2675, resumption of uptrend is expected.
We make sure when the resistance at 8.5750 breaks.
If the support at 7.2675 is broken, the short-term forecast -resumption of uptrend- will be invalid.
Technical analysis:
The RSI support #1 at 57 is broken, so the probability of resumption of uptrend is decreased.
A peak is formed in daily chart at 8.0516 on 11/24/2020, so more losses to support(s) 7.7755, 7.6600, 7.4565 and minimum to Major Support (7.2675) is expected.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 46.
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💡Don't miss the great buy opportunity in USDTRY Trading suggestion:
". There is a possibility of temporary retracement to suggested support line (7.8242).
. if so, traders can set orders based on Price Action and expect to reach short-term targets."
Technical analysis:
. USDTRY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 61.
Take Profits:
TP1= @ 7.9028
TP2= @ 7.9588
TP3= @ 8.0394
TP4= @ 8.1861
TP5= @ 8.3224
SL= Break below S2
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Don't miss the great buy opportunity in EURTRYTrading suggestion:
. There is a possibility of temporary retracement to suggested support line (7.4706). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Technical analysis:
. EURTRY is in a range bound and the beginning of uptrend is expected.
. The price is below the 21-Day WEMA which acts as a dynamic resistance.
. The RSI is at 71.
Take Profits:
TP1= @ 7.5998
TP2= @ 7.6507
TP3= @ 7.8517
SL= Break below S2
A great opportunity to buy in Turkish Lira.Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 5.0000 would begin in Midterm.
We will close our open trades, if the Midterm level 5.0000 is broken.
Technical analysis:
While the RSI downtrend #1 is not broken, bearish wave in price would continue.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 33.
Trading suggestion:
There is a possibility of temporary retracement to suggested Buy Zone (5.51550 to 5.19000). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (5.51550)
Ending of entry zone (5.19000)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1 : @5.6870
TP2 : @5.9015
TP3 : @6.2090
TP4 : @6.4820
TP5 : @6.8320
TP6 : @7.0000
TP7 : @7.1200
TP8 : Free
A great opportunity to buy in Turkish Lira.Midterm forecast:
There is no trend in the market and the price is in a range bound, but we forecast an uptrend wave above 5.0000 would begin in Midterm.
Technical analysis:
The RSI support #1 at 48 is broken, so the probability of resumption of uptrend is decreased.
While the RSI downtrend #2 is not broken, bearish wave in price would continue.
Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
Relative strength index (RSI) is 47.
Trading suggestion:
There is a possibility of temporary retracement to suggested Buy Zone (5.90150 to 5.6870). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (5.9015)
Ending of entry zone (5.6870)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words, NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone. To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Take Profits:
TP1 : @6.2090
TP2 : @6.3325
TP3 : @6.4820
TP4 : @6.6680
TP5 : @6.8320
TP6 : @7.0000
TP7 : @7.1200
TP8 : Free
A great opportunity to buy in Turkish Lira. keep your eye on it.Midterm forecast:
5.0000 is a major support, while this level is not broken, the Midterm wave will be uptrend.
We will close our open trades, if the Midterm level 5.0000 is broken.
Trading suggestion:
There is a possibility of temporary retracement to suggested support zone (5.9300 to 5.6450). if so, traders can set orders based on Price Action and expect to reach short-term targets.
Beginning of entry zone (5.9300)
Ending of entry zone (5.6450)
Entry signal:
Signal to enter the market occurs when the price comes to " Buy zone " then forms one of the reversal patterns, whether " Bullish Engulfing ", " Hammer " or " Valley " in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about " Entry signal " and the special version of our " Price Action " strategy FOLLOW our lessons :
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 88.
Take Profits:
TP1= @ 6.0000
TP2= @ 6.2100
TP3= @ 6.5600
TP4= @ 7.0000
TP5= @ 7.1200
TP6= Free
Previous Trade Setup:
We opened 4 BUY trade(s) @ 4.7302 based on 'Trough (Valley)' entry method at 2018.07.09.
Total Profit: 22017 pip
Closed trade(s): 5354 pip Profit
Open trade(s): 16663 pip Profit
Closed Profit:
TP1 @ 4.8035 touched at 2018.07.11 with 733 pip Profit.
TP2 @ 4.9225 touched at 2018.07.12 with 1923 pip Profit.
TP3 @ 5.0000 touched at 2018.08.01 with 2698 pip Profit.
733 + 1923 + 2698 = 5354 pip
Open Profit:
Profit for one trade is 6.3965(current price) - 4.7302(open price) = 16663 pip
1 trade(s) still open, therefore total profit for open trade(s) is 16663 x 1 = 16663 pip
A great opportunity to buy in Turkish Lira. keep your eye on it.Midterm Forecast:
The current trend is uptrend and the forecast is the continuation of uptrend.
Technical analysis:
While the RSI uptrend #1 is not broken, bullish wave in price would continue.
Price is below WEMA21, if price rises more, this line can act as a dynamic resistance against more gains.
Relative strength index (RSI) is 51.
Trading suggestion:
There is a possibility of temporary retracement to suggested Buy Zone (4.4600 to 4.3200). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (4.4600)
Ending of entry zone (4.3200)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 4.5545
TP2= @ 4.6770
TP3= @ 4.8035
TP4= @ 4.9225
TP5= @ 5.0000
TP6= Free
A great opportunity to buy in Turkish Lira. keep your eye on it.DOLLAR/LIRA
Midterm forecast:
The current trend is uptrend and the forecast is continuation of the uptrend.
Technical analysis:
While the RSI resistance #1 at 83 is not broken, the probability of price increase would be too low.
While the RSI uptrend #2 is not broken, bullish wave in price would continue.
Price is above WEMA21, if the price drops more, this line can act as dynamic support against more losses.
Relative strength index (RSI) is 77.
Trading suggestion:
There is a possibility of temporary retracement to suggested Buy Zone (4.3200 to 4.1800). if so, we would set orders based on Daily-Trading-Opportunities and expect to reach short-term targets.
Beginning of entry zone (4.3200)
Ending of entry zone (4.1800)
Entry signal:
Signal to enter the market occurs when the price comes to "Buy zone" then forms one of the reversal patterns, whether "Bullish Engulfing" , "Hammer" or "Valley" , in other words,
NO entry signal when the price comes to the zone BUT after any of reversal patterns is formed in the zone.
To learn more about "Entry signal" and the special version of our "Price Action" strategy FOLLOW our lessons:
Take Profits:
TP1= @ 4.4600
TP2= @ 4.5400
TP3= @ 4.7385
TP4= @ 4.9225
TP5= @ 5.0000
TP6= Free