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Weekly forecast US Dollar / Turkish Lira technical chart
Symbol USDTRY
Trade Setup

#USDTRY
Total Profit: 151111 pip
Closed trade(s): 33670 pip Profit
Open trade(s): 117441 pip Profit

Trade Setup:
We opened 6 BUY trades @ 7.15852 based on 'Valley' entry method at 2021-02-24.

Closed Profit:
TP1 @ 7.2675 touched at 2021-02-25 with 1090 pip Profit.
TP2 @ 7.5000 touched at 2021-03-04 with 3415 pip Profit.
TP3 @ 7.7755 touched at 2021-03-09 with 6170 pip Profit.
TP4 @ 8.0415 touched at 2021-03-22 with 8830 pip Profit.
TP5 @ 8.5750 touched at 2021-05-28 with 14165 pip Profit.
1090 + 3415 + 6170 + 8830 + 14165 = 33670 pip

Open Profit:
Profit for one BUY trade is 18.90263(current price) - 7.15852(open price) = 117441 pip
1 trade(s) still open, therefore total profit for open trade(s) is 117441 x 1 = 117441 pip

Trading suggestion:

  • We have already opened Buy trades, based on Trend Hunter Strategy, trade setup is drawn on the chart and shows entry and targets.
  • If the Midterm level 17.70000 is broken, we will close open trades.

DateMarch 18, 2023 - 15:29
Currentrange bound
Forecastresumption of uptrend

Midterm forecast:

  • While the price is above the support 17.70000, resumption of uptrend is expected.
  • We make sure when the resistance at 18.98233 breaks.
  • If the support at 17.70000 is broken, the short-term forecast -resumption of uptrend- will be invalid.
  • We will close our open trades, if the Midterm level 17.70000 is broken.

Technical analysis:

  • The RSI downtrend #1 is broken, so the probability of resumption of uptrend is increased.
  • A trough is formed in daily chart at 15.90645 on 06/27/2022, so more gains maximum to Major Resistance (18.98233) is expected.
  • Price is above WEMA21, if price drops more, this line can act as dynamic support against more losses.
  • Relative strength index (RSI) is 53.

Take Profits:

  1. 7.23143
  2. 7.50000
  3. 8.04150
Click on the level to view price action history.

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