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...