As predicted before, we tested the previous highs and a correction sell came, I think we will go down a bit further to 6.50 6.60 levels. And from there a big bullish wave to 9 is expected, just my idea not an advice and I am too lazy to write a detailed analysis.
USDTRY - Intraday - We look to Buy at 5.6870 (stop at 5.6525)
Posted Mixed Daily results for the last 47 days. Price action has formed an expanding wedge formation. The medium term bias remains bullish. The trend of lower highs is located at 5.7905. However, with the intraday chart now highlighting higher lows we are...
DAY TRADE - Expires at 9pm today
The medium term bias remains bullish.
Trading within a Corrective Channel formation.
Bespoke resistance is located at 5.7849.
Intraday signals are mixed.
Preferred trade is to sell into rallies.
Expect trading to remain mixed and volatile.
We look to Sell at 5.7850
Target 1: 5.6320
Target 2: 5.5465
USDTRY 2.5% band sideways. The exchange rate may begin to move in a descending speed band. I look forward to building the band within the yellow rectangle. Then I assume a stronger upward movement. The target price can be 6,3300usd. From the bottom of the bar, this is an increase of almost 11.56%. Up to one week short position can be taken from the current level...
As I mentioned in my previous post , the wave count is intact...and you can see that we have begun the third wave just where I spotted the end of the wave 2 ...we can also visualize the strength of the move upside which is characteristic of the third waves...will update