This trade is not part of my usual price action trading strategy. It is longer-term play based on the Ichimokucloud technicals (kumo turning bullish on eurtry and chikou broke past prices), but also the fundamentals. As the new year has come, prices of essential things like energy and water have doubled for my family living in Turkey. Other bills for the new year...
EURTRY 4H Sell and Buy Setup TP1: 6.18537 TP2: 6.15396 TP3: 6.04530 TP4: 6.04254 TP5: 5.98960 (Fib 0.236) This is not investment advice Obviously I do not use sl , adjust according to your own account
Refer to my USD/TRY idea linked to this idea. When I trade one pair, I also like to study the market structure of correlating pairs. USD/TRY and EUR/TRY correlating pairs. In my high level analysis we see that both pairs experienced the nicest nice bounce off the 61.8 fib level and would have been a perfect entry point, as we can see price action was swift to...
Watch out for EUR/TRY. It is currently holding strong above the 4H 50 EMA. The next step could very well be a breakout of the consolidation to the up side. Trade safe.
Falling channel is broken now we are rising channel. With the developments in EUR USD parcels, we are at minimum 4,10 levels in the middle of 8th month.
the ongoing consolidation process in the triangle for a long time is coming to an end now target's 4,xxxx
I'm back with the EURTRY to do a add-to-position. If you have followed me on the EURTRY, it's an idea to consider an increase of position. Just a moment ago, disappointing quarterly jobless average (dec) figures came out of Turkey. With the EU going somewhat stronger, I trust this one over the next week to continue upwards. Be aware that EU is in a strange place...
This is, without doubt a long position for the long term. Diving into macro economy of TRY, it's not looking good, compared to EU. Currently I will wait and see if it's going to take a breather, before I jump in for the long run. Worth keeping an eye on.
EURTRY 4H Long Resistance: 3,957000 - 3.97000 - 3,98000 This is not investment advice
Long position after consolidation during one week ore more.