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Weekly forecast US Dollar / Turkish Lira technical chart
Symbol USDTRY

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Trade Setup
#USDTRY
Total Profit: 13937 pip
Closed trade(s): 5231 pip Profit
Open trade(s): 8706 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 5.6049(current price) - 4.7343(open price) = 8706 pip
1 trade(s) still open, therefore total profit for open trade(s) is 8706 x 1 = 8706 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.

DateApril 6, 2019 - 19:29
Currentrange bound
Forecastbeginning of uptrend

Midterm forecast:

  • There is no trend in the market and the price is in a range bound, but we forecast a downtrend wave below 5.75800 would begin in Midterm.

Technical analysis:

  • While the RSI uptrend #1 is not broken, bullish wave in price would continue.
  • A peak is formed in daily chart at 5.6720 on 03/29/2019, so more losses to support(s) 5.5400, 5.4200 and minimum to Trend Hunter Buy Zone (5.3000 to 5.1595) 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 57.

Take Profits:

  1. 5.4200
  2. 5.5400
  3. 5.7580
  4. 5.9015
  5. 6.2090
  6. 6.4820
  7. 6.8320
  8. 7.0000
  9. 7.1200
Click on the level to view price action history.

Symbol Released Current Forecast
US Dollar / Turkish Lira (USDTRY) free Sat, 23 Mar 2024
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