This parabolic move in USDTRY has forced me to look at the Livermore's -underrated- Speculative Chart once again. Last year it worked almost perfectly but today I have some concerns. First one is Turkish politicians -members of ruling party- is very very satisfied with the devaluation of Lira since they want CB to lower rates. By doing this they will get support...
Will resistance convert to support level at USDTRY daily chart? I'm betting 3-to-1 it will.
If profit target is met, scaling out and moving stop loss order to break-even (entry) point is recommended.
The weekly chart stands at value The impulse is blue, which means the selling is over.
The daily chart shows some testing and retesting, I have explained it on the chart. The impulse turned green yesterday, and I bought at the current price.
If at the previous high, 2.3, I will see a bearish setup, I will exit my position and consider shorting. If however,...
English : Right now USDTRY stuck at 0.382 fibonacci (july 2014 low) and also as 61.8 (oct 2014 low).
We can take bullish position using risk/reward ratio 8 with SL at new low at 2.2133 and profit target at 2.2969 at fibonacci 1.272.
If support level break down and success perform new low, bearish will continue using risk/reward ratio 4.33 with SL at 2.2231 and TP...
HISTORY WILL REPEATS IT SELF (request analysis from esene)
English : It is very interesting to see a repetition of history at USDTRY , not only for the bullish trendline, but also happening on break up once every two years in april, and highest level reach every end of January or february
If this trendline break up at april 2015, bullish target at any price on...
At an overnight rate of 8.25%, there is nothing left to say about the chart, because it doesn't really matter.
The chart is not very bearish, and it is not bullish either. We have a possible double top on the weekly and the daily broke below a support area. The less volatile this market is, the more money you will make.
The price has broken below 2.2525 support level and the regression line, and that might extend the correction next week. But that correction could be a continuation flag pattern after the rally. I put a limit buy order near the regression support line and between 50%-61.8% retracement levels for the recent rally.
It looks we have completed Wave (iii) of Wave of Wave . From here we can correct down to 2.2235/90 levels and then we will go up 2.2830 levels to complete Wave .
if price want to move from 1. Floor to 2. Floor
has to break out for stronger lvl 2.19365
but i want let u guys know
My govermant so Turkey Alarmed For keep Price Under of 2.17
Waiting for a break to clear the outlook. Upcoming days are rather bearish on cycles. So, i am suspicious about bullish outlook however current recovery from 2.1484 has potential to base for a sharper rally.
Breach of 2.15 level confirmed that correction from Wave is still in act. Cycles shows this pair may be bearish until October that's why I am natural but current recovery is promising at least to visit 2.17 level
Like USDCAD firm bearish reversal back need change in count. But here I am less sure about current count. As long as we stay above 2.15 it is OK and low will be Wave (ii). However it looks like a impulsive move and this can make 1.2780 top as Wave (x) of Larger degree Wave . This make general outlook more bearish.
Bullish count continues without problem. As expected Murrey Math level +1/8 put a barrier to yesterday rally and let the formation of Wave a of Wave iii. We cannot know how deep wave b will be but we should continue after some consolidation.
