USDTRY trade ideas
USDTRY to be in uptrend for 2-4 monthsThe blue trend line will act as support if we see a fall. The resistance for next few months seems to be 5.50-5.60
High chance of reversal from here (5.15)Price can reverse from here (5.15). Currently the price is sitting on a trend line. If we break 5.15 and remain below it for 6-12 hours, we may see further significantly lower levels.
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
USDTRY triangle breakout or breakdown awaited #usdtry has to come out of this triangle pattern to give a clear Idea of which direction it will move. Maximum time will be around 10 October 2018.
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
