It looks like we will see a repetition of the past. The previous failed uptrend attempt was around 6.14. and after the initial drop and recovery the more controlled down trend started around 6.80. If we use a fib time zone, or even a simple line we can see that the amount of time between 6.80 and 6.14 drops and the time between 6.14 and now is exactly the same. There are many similarities, on 4hrs graphics we can see that the ma20 and ma 100 is crossing. They tried to cross on the previous atttempt as well but just before touching each other they were separated. We are approaching the same resistance line exactly around the time when these to ma's are about to cross.
I am hoping for a repetition of the past. It is almost too perfect to be true, but if it the entire downtrend is indeed controlled by the Turkish central bank as many believe, it makes perfect sense. If we again see the same type of movement, that would mean the continuation of the down trend until end of december. It would go down to 4.80 level. And it probably would enter into the previous flattish channel and stay there until end of March until the local elections in Turkey.
Let's watch and see.
Adios
I am hoping for a repetition of the past. It is almost too perfect to be true, but if it the entire downtrend is indeed controlled by the Turkish central bank as many believe, it makes perfect sense. If we again see the same type of movement, that would mean the continuation of the down trend until end of december. It would go down to 4.80 level. And it probably would enter into the previous flattish channel and stay there until end of March until the local elections in Turkey.
Let's watch and see.
Adios
Trade active:
Aand there it goes as promised:)