Turkish Lira - Big Frame TA

10 paź 2021

Hello.


According to my (theoretical) Model, Lira is Trading in a exponential downward curve channel and about to drop arround 50% soon.
Its currently Trading near the Support Curve, after we saw a 2nd Retest and i think its about time we go to median and Resistance Curve.

Thats where i plan to buy Lira. Personally not shorting Lira.

Its pretty theoretical yet, but lets see what the coming month´s bring.

Do yourself a favor and do your own Research.

Please leave a like if you liked this. :)

22 paź 2021

Uwaga

Lira possibly already in a sub-exponential downward trend

Just a theory tho

25 paź 2021

Uwaga

Thats what i expect the coming Week´s..

10 lis 2021

Uwaga

Im recommending to take some profits arround 10.6-11

There could be a bigger correction there, as im not sure if the big drop is coming yet

10 lis 2021

Uwaga

Here´s an eur/try chart:

The red line needs to break in order for lira to crash for real.

17 lis 2021

Uwaga

dont forget to take some profit at median as im not sure if we go in a months long correction soon. The real lira crash may not come yet but mid next year.

18 lis 2021

Uwaga

We may correct some months from here. In case red line breaks, lira could drop another 30%.

23 lis 2021

Uwaga

median broke, get ready to test support curve. this worked out well.

23 lis 2021

Uwaga

resistance curve*

23 lis 2021

Uwaga

this can go as high as 17usd/try

24 lis 2021

Uwaga

There´s still more to go, late longers got washed and and we should continue now

25 lis 2021

Uwaga

but a correction would make sense here too as you can see in eur/try chart (im mainly charting lira with eur, not usd).

30 lis 2021

Uwaga

altho this could go to ~17usd (highest possible target according to my TA) i think its a good time to close (atleast partially) soon.

Mid Next year is Election in turkey. and if erdogan doesnt get elected again, it is actually possible that Lira leave´s the parabolic downward trend.

Lira will atleast have a big correction upward and market will price in that erdogan possibly wont get elected again. I will propably open a new Idea for a Lira long position soon. Altho knife catching could be difficult. Stay tuned =)

30 lis 2021

Uwaga

Lira long setup will be based on this Try/Eur chart...just a little preview.
Will post a new Idea for this soon for USD/Try

6 gru 2021

Transakcja zamknięta: osiągnięto wyznaczony cel

I hereby close this Idea. Yes, according to my try/eur chart (see above) we could go up another 20-25% but i would rather focus on longing lira soon then still "betting" on this 20% upward potential on usdtry. if you still in this trade i recommend closing atleast 70% of youre position. will post usdtry short soon. (dont recommend going short right here on usdtry as my original idea may suggest)

9 gru 2021

Uwaga

Just published my USDTRY Short Setup

See Related Ideas below.

10 gru 2021

Uwaga

Dont get me wrong, i dont recommend shorting red curve. The red curve was a conservative target for the long. i put up another idea for a USDTRY short with entry at ~18usd. dyor

19 gru 2021

Uwaga

In case you are into Turkish Stock market too here´s my prognosis of the coming weeks:

It doesnt look good for stocks as i expect a -50% decline soon. Important Supp seems broken and Turkish stock market is at the edge of dropping hard soon. (Propably because rising interest rates and recent Lira decline)

23 gru 2021

Uwaga

If we are touching the green curve on this Idea again soon, i will long USDTRY (again xD)

13 sty 2022

Uwaga

By the way i dont think cryptocurrency are a good store of value, so i dont recommend changing lira to crypto.

And also stay away from Tether (USDT), better use USDC.