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Friday, 27 November 2015

USD/TRY H4 Analysis

General overview for 27/11/2015:

Short term perspective: The wave B green of the Zig-Zag corrective cycle is almost completed
 and then short-term immediate down trend should resume. Please notice that the grey rectangle
 is the projected target zone for the wave (c) termination. Any breakout higher would mean more
complex and time consuming correction (ie: Double Zig-Zag, Triple Zig-Zag, Mixed).

3.1238 - 161%Fibo of Big Wave 1 Green
3.0741 - Swing Top
2.9743 - Technical Resistnace
2.9612 - 61%Fibo
2.9231 - 50%Fibo
2.8150 - Golden Trend Line Dynamic Support
2.7783 - Wave A Bottom
2.6267 - Min. Target Projection

Trading recommendations:
Daytraders should consider to open sell orders from current market levels with SL above the
level of 2.9800 and TP at the level of 2.7784 min.
Swingtraders should still keep open buy orders as there is no trend reversal just yet.

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