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Turkish Lira - Big Frame TA

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. :)

Not

Lira possibly already in a sub-exponential downward trend

Just a theory tho

Not

Thats what i expect the coming Week´s..

Not

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

Not

Here´s an eur/try chart:

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

Not

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.

Not

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

Not

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

Not

resistance curve*

Not

this can go as high as 17usd/try

Not

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

Not

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

Not

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 =)

Not

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

İşlem kapandı: hedefe ulaştı

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)

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Just published my USDTRY Short Setup

See Related Ideas below.

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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

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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)

Not

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

Not

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.

Symbio_X

Feragatname

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Symbio_X