Last post: May 22nd. See chart.
Review: The bull trend continued towards 5.0000 resistance before an intraday reversal on Wednesday this week.
Update: The bulls recovered the following day and continue to dominate the market.
Conclusion: The extended wick from Wednesday's bar and 5.0000 resistance further ahead means patience until these levels become...
The current trend is uptrend and the forecast is continuation of the uptrend.
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...
Last post: May 21st. See chart.
Review: A breakout was confirmed yesterday.
Update: The bull trend has continued today triggering another compound.
Conclusion: We want to see price continue towards the next round number of 6.0000.
Any comments or questions, do not hesitate to leave them below. Hit agree if you share our sentiments!
Last post: May 15th. See chart.
Review: We were waiting on price to confirm a breakout by the end of the trading day.
Update: The breakout was confirmed. Price is now suggesting another breakout in the form of another bull flag.
Conclusion: A confirmed bull flag will strongly suggest a continuation of the bull trend and offer another long entry point.
Last post: May 9th. See chart.
Review: The bulls were very much in control and forming a trend since breaking out.
Update: Price pulled back to support and another breakout is a possibility.
Conclusion: A breakout will suggest a bull trend continuation and will offer opportunities for us to compound.
Any comments or questions, do not hesitate to leave them...
We last posted on the USDTRY on May 4th when price had just broken resistance.
Since then, the bulls have continued to dominate the market, breaking out again in the process and triggering further long trades.
We want to see price continue to trend in the same linear fashion towards 5.0000.
This is looking strong for a trend continuation.
Any comments or...
We last posted on the USDTRY on April 6th when price had broken and closed above pivot resistance.
Prior to that, price had been in a consolidation that stretched back to November of last year. The longer the consolidation, the bigger the breakout is the expression and we would like that to hold true for this currency.
Price has seen three strong bullish days...
The USDTRY is new to our TradingView blogs and deserves highlighting given the current setup.
As an exotic, this currency pair can trend well and highlighted on the monthly time frame but pullbacks can be deep and price can go through extended periods of consolidation. This is useful to know for those that want to trade this. There is no better indication of...