GBPTRY trade ideas
GBP/TRY [Experimental "Fib Web"]NOTE: EXPERIMENTAL CHART ANALYSIS - "Fibonacci circle magnetism web"
Created using unorthodox methods of overlaying fib circles to create a 'webbed magnetism grid' (hidden for clarity) & incorporating knowledge of 'occult' symbolism.
Horizontal lines denote 'orbital pivot points'.
Thick black lines - predicted avg trend lines based on analysis.
Thin black lines - possible fluctuations from main trend line.
Previous profit calls from method: 1/3
Previous loss calls from method: 2/3
GBPTRY LONG TERM BIASOver this year expecting a possible strength shift in GBP. The TRY took a massive hit in the last COUP causing a huge spike in the GBPTRY exchange rate. The long term political instability is likely to continue as it's not the first time this has happened.
Exchange rate likely to reach levels seens during that time.
INVEST YOUR MONEY IN TURKISH ECONOMYwith election coming at the end of March i saw the Turkish gaining strength against the GBP. You can comment and share your own idea with me.
GBPTRY LONG TERM WAVE COUNTAs you can see the first primary degree wave is very clear and precise.The whole wave formation is very solid and the waves are defined internally very clearly as well.
So the aim for the 5th primary degree would be around 20 ish .
Regards
turkish lira to strenghen against poundwe have a td9 coupled with a bad vote in parliament , expect pond to weaken here
GBPTRY: Triangle sequence showing sell towards 6.5100.The pair has been trading on a strong 1W downtrend (Highs/Lows = -0.4121, B/BP = -0.5351) that recently appears to be slowing down. This may be an indication of a support on the 1W level (6.2070 - 6.5610). However a sequence of repetitive Triangle patterns illustrates that at least a -3.54% decline is expected to follow the completion of the most recent Triangle. This puts our short TP at 6.5100.
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Turkish lira to weaken against the pound?Turkish lira to weaken against the pound?
keeping close here to see if breaks to the upside or not
GBPTRY Turkish Lira long trade #tradingUp trend on weekly and daily - using the Hoffman strategy I have placed a long order based on the entry price on the chart.
Keep and eye on that gbp /liraif the lira manages to evade the falling wedge pattern against the pound & lira strengthens , this will be very bullish for the lira.
Current pattern projects the lira weakening against pound , lets see what happens
CARRY TRADE CYCLES Carry Trade is the one of the most stylish trading system.Example on 1 years :
UK interest rates = 0,74
Turkey interest rates = 23
If i lend money with GBP and if i invest in Turkey 2Y bonds my real income is :
23 - 0,74 = 22,26 (%) (yearly)
Because of i invested with hot money , Turkish lira will get high and i can buy more Pounds if i want to get interest yield again. If im a good trader or a investment bank , my risk is so so low . Otherwise i can buy a lot of pounds with strong Turkish Lira and get high interest rate when i sell my Turkish lira, Turkish lira gets cheap and this time i can get a lot of Turkish lira again. This cycle is so profitable and suitable for community trading psychology. So carry traders transform market makers and every movements have affect for market making and it is more profitable and secure. But for an English invester, if Turkish economy get worse, even Turkish lira getting cheap and interests are not incresing or devaluations like Turkish lira got a few days ago or interests rates in dangerous places (%23 - %25 means %100 ROE in 4 years) everything getting more worse with double affect, fiat and interest rates opposite correlation lost and everything getting so much risky.
This is an example on historical data. I choosed Pound because UK's interest rates are more lower than USA.This idea will show why last year :GBPTRY drops a lot and this year is different. Let's see Turkish Lira's different between market conditions conveinent for Carry Trading or opposite.Best regards.
gbp turkish liraunfortunately the usa is waging economic war fare on turkey , Turkish lira suffered greatly has since recovered abit . the pattern indicates things will get worse , unless dramatic measures are taken . lets see how this plays out .
GBPTRY Buy IdeaGBPTRY Buy Idea @Daily Demand Zone (5.8466 - 5.7100)
Buy Limit: 5.8456
Stop Loss: 5.6982
Take Profit: 6.0539
Consolidation before further uptrend. Buy on dips. Long.GBPTRY is possibly on a recurring pattern sequence as seen on the chart, on the broader spectrum of a 1W, 1M Channel Up (RSI > 65.523 on both, even overbought on 1M). Our strategy is to buy every dip within the 4H Rectangle (ADX = 18.434, ATR = 0.0717) in anticipation of the next Channel Up. TP = 6.6467.
GBPTRY Buy IdeaGBPTRY Buy Idea @Daily Demand Zone (5.5434 - 5.5129)
Buy Limit: 5.5434
Stop Loss: 5.4884
Take Profit: 5.8238
