If not pushed back to the previous supports by government, expect a steady rise to break 15,00 resistance and flip it into a support. Even if they try to scare you, don't give a shit if you are doing spot game. Turkish economy collapsing...
Gotta scalp tomorrow so made this simple setup. As you know, sun of a beach Musk initiated a dirty dumpage which triggered demand for USDT as confirmed by WT, RSI, Volume and Dragonfly-ish candles in short TF. Order Type: OCO : %50 on T1 & %50 on T2. Both have the same SL shown. Gonna follow up during the day. Have a good week folks.
The planets are aligning... The price is back in the bullish zone, so the deep retracement scenarios are now obsolete - the RSI is about to surpass the RSI 50 on the 4-hour chart. That's why I added the purple guy here. As you can see indeed, it's exactly the same pattern after the pullback. From now on, I can expect the price to go as the sum of the purple and...
USDT/TRY can be quite in negative correlation with USD/TRY in short-term due to different demand&supply dynamics. I utilize this as an indicator for USD/TRY high TF goals. I expect it to make a false break first -below the ascending triangle- and then rise and shine as we see in crypto space.
3-crows indicated a possible short-term pull-back so I added 2 possible retracement scenarios. Turkish government doesn't want a strong lira. The only reason for this pull-back can be associated with DXY...
Based on the fundamental fact that Turkish economy is managed by wrong decisions, bad monetary policies and insufficient interest rate for Turkish lira, both scenarios look pretty possible to me. Not financial advice. ;)