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

#USDTRY
Total Profit: 305348 pip
Closed trade(s): 33670 pip Profit
Open trade(s): 271678 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 34.32627(current price) - 7.15852(open price) = 271678 pip
1 trade(s) still open, therefore total profit for open trade(s) is 271678 x 1 = 271678 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 33.00000 is broken, we will close open trades.
DateNovember 1, 2024 - 20:00
Currentuptrend
Forecastcontinuation of uptrend

Midterm forecast:

  • 33.00000 is a major support, while this level is not broken, the Midterm wave will be uptrend.
  • We will close our open trades, if the Midterm level 33.00000 is broken.

Technical analysis:

  • There is a divergence in RSI and price between the peak at 32.66343 on 2024-04-19 and the peak at 34.4172 on 2024-08-28, the probability of uptrend continuation is decreased and the probability of beginning the correction wave is increased.
  • While the RSI support #1 at 49 is not broken, the probability of price decrease would be too low.
  • A trough is formed in daily chart at 32.77195 on 07/24/2024, so more gains to resistance(s) 34.50000, 35.00000, 35.50000 and more heights 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 64.

Take Profits:

  1. 7.23143
  2. 7.50000
Click on the level to view price action history.
Symbol Released Current Forecast
US Dollar / Turkish Lira (USDTRY) new Mon, 2 Dec 2024
US Dollar / Turkish Lira (USDTRY) free Mon, 25 Nov 2024
US Dollar / Turkish Lira (USDTRY) free Tue, 19 Nov 2024
US Dollar / Turkish Lira (USDTRY) Fri, 15 Nov 2024
US Dollar / Turkish Lira (USDTRY) Sun, 10 Nov 2024
History
Daily-Trading-Opportunities on USDTRY.