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Weekly forecast US Dollar / Turkish Lira technical chart
Symbol USDTRY

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Trade Setup
#USDTRY
Total Profit: 9933 pip
Closed trade(s): 5231 pip Profit
Open trade(s): 4702 pip Profit

Trade Setup:
We opened 4 BUY trade(s) @ 4.7343 based on 'Trough (Valley)' entry method at 2018.07.09.

Closed Profit:
TP1 @ 4.8035 touched at 2018.07.11 with 692 pip Profit.
TP2 @ 4.9225 touched at 2018.07.12 with 1882 pip Profit.
TP3 @ 5.0000 touched at 2018.08.01 with 2657 pip Profit.
692 + 1882 + 2657 = 5231 pip

Open Profit:
Profit for one trade is 5.2045(current price) - 4.7343(open price) = 4702 pip
1 trade(s) still open, therefore total profit for open trade(s) is 4702 x 1 = 4702 pip

#USDTRY
Total Profit: 7711 pip
Closed trade(s): 7711 pip Profit
Open trade(s): 0 pip Profit

Trade Setup:
We opened 10 BUY trade(s) @ 5.2443 based on 'Daily Close above Down Trend' entry method at 2018.12.03.

Closed Profit:
TP1 @ 5.3015 touched at 2018.12.04 with 572 pip Profit.
TP2 @ 5.5155 touched at 2019.01.03 with 2712 pip Profit.
TP3 @ 5.6870 touched at 2019.01.03 with 4427 pip Profit.
572 + 2712 + 4427 = 7711 pip

7 other break-even trades closed at entry price, therefore no profit no loss.

Trading suggestion:

There is possibility of temporary retracement to suggested Trend Hunter Buy Zone (5.1595 to 5.0135). We wait during the retracement, until the price tests the zone, whether approaching, touching or entering the zone.

We would set buy orders based on Daily-Trading-Opportunities and expect to reach short-term targets.

  • Beginning of entry zone (5.1595)
    • Support on 01/31/2019
  • Ending of entry zone (5.0135)

DateFebruary 2, 2019 - 19:57
Currentrange bound
Forecastcontinuation of uptrend

Midterm forecast:

  • While the price is above the support 5.01350, continuation of uptrend is expected.
  • We make sure when the resistance at 5.90150 breaks.
  • If the support at 5.01350 is broken, the short-term forecast -continuation of uptrend- will be invalid.

Technical analysis:

  • While the RSI resistance #1 at 41 is not broken, the probability of price increase would be too low.
  • A peak is formed in daily chart at 5.3625 on 01/29/2019, so more losses to support(s) 5.1595 and minimum to Major Support (5.0135) is expected.
  • Price is below WEMA21, if price rises more, this line can act as dynamic resistance against more gains.
  • Relative strength index (RSI) is 40.

Take Profits:

  1. 5.3015
  2. 5.4200
  3. 5.5400
  4. 5.6870
  5. 6.0000
  6. 6.2090
  7. 6.4820
  8. 6.8320
  9. 7.0000
  10. 7.1200
Click on the level to view price action history.

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US Dollar / Turkish Lira (USDTRY) free Sat, 23 Mar 2024
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