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USD/TRY and EUR/TRY 12 replies

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USD/TRY

O.K this is not the place to post this Chart ...I rarely post charts so forgive.
This trade is certainly in profit......Love the colour of GREEN.
R
R
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Ronnie Renko
Quoting blackwinter
{quote} Interest rate hikes are results of past mistakes in the economy..of course, it is not good for ordinary people..but, for the benefit of whole country and people, there is a need of interest rate hike now..Turkey needs to attract foreign investments since it has a constant foreign trade deficit and current account deficit..longterm foreign investments are better and preferable, however they re not coming recent years due to political and economical instability..so, Turkey has to attract at least shortterm foreign investment to close its ongoing...
I read the same stuff on Bloomberg. It made me a tiny bit nervous and I put a stop loss on one of my short positions. My gut feeling is that this is all hysteria and if there is a rout in the TRY it will be a bear trap for TRY traders. I could be wrong though.
Quoting eozdural
{quote} I read the same stuff on Bloomberg. It made me a tiny bit nervous and I put a stop loss on one of my short positions. My gut feeling is that this is all hysteria and if there is a rout in the TRY it will be a bear trap for TRY traders. I could be wrong though.
it went up to the 50% fib from 0 fib and does not seem to be breaking through it could fall back down maybe like you i could be wrong also mate so we wait i do have a sell here
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https://tradingeconomics.com/calendar

10 minutes left to CB rate decision..expectation is %1 rate hike..see how
make your own analysis and decisions..just giving some perspective..
man thats some spike
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:/ not good decision for TRY
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people leave, but this thread will go on for ever
Quoting blackwinter
https://tradingeconomics.com/calendar 10 minutes left to CB rate decision..expectation is %1 rate hike..see how
Cb didnt increase at all..now price is at 4.90..

They are committed to destroy economy..very interesting decision
make your own analysis and decisions..just giving some perspective..
Quoting Aussi
man thats some spike
yeah, spike hit my stop loss so I am out of one position for a loss, the other one is open and I am looking for a new entry short from somewhere that looks reasonable.
I closed all my shorts on friday. Now I seriously think about long till 5
maybe retrace ?
people leave, but this thread will go on for ever
Quoting blackwinter
{quote} Cb didnt increase at all..now price is at 4.90.. They are committed to destroy economy..very interesting decision
The Central Bank probably doesn't want to increase the interest rate and then be unable to afford to pay all the lenders back without printing a lot of cash. They will probably watch and see and they have three options available to strengthen the currency in the near term.

1. Jawboning
2. selling reserves
3. a rate hike either unannounced if the currency gets really bad or in the next meeting if the currency is bad and it is warranted then.

I am still bullish the TRY and am looking for another short entry
Quoting eozdural
{quote} The Central Bank probably doesn't want to increase the interest rate and then be unable to afford to pay all the lenders back without printing a lot of cash. They will probably watch and see and they have three options available to strengthen the currency in the near term. 1. Jawboning 2. selling reserves 3. a rate hike either unannounced if the currency gets really bad or in the next meeting if the currency is bad and it is warranted then. I am still bullish the TRY and am looking for another short entry
What do you mean jawboning ?
make your own analysis and decisions..just giving some perspective..
Quoting blackwinter
{quote} What do you mean jawboning ?
think he means just talk talk talk no action
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Quoting Aussi
maybe retrace ?
I don't think so, not before late on Wednesday when the short TRY crowd want to avoid the triple swap. For now everyone is looking at everyone else.
Quoting eozdural
{quote} I don't think so, not before late on Wednesday when the short TRY crowd want to avoid the triple swap. For now everyone is looking at everyone else.
im happy added more sells on both trys love the triple swaps to mate i have some sell limits up the charts also
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if it continues up turkey is in real trouble i woulder how long the people will stand for this
people leave, but this thread will go on for ever
Quoting Aussi
{quote} im happy added more sells on both trys love the triple swaps to mate i have some sell limits up the charts also
I just sold it too on eurtry and usdtry.
Those swaps are only good when the trade is in gain because holding losses in exchange for swap won't recuperate that fast! ... it's 1.5pip(x10)/day

--
I'm out
?!? Profit This Year: €136
Quoting aa4fx
{quote} I just sold it too on eurtry and usdtry. Those swaps are only good when the trade is in gain because holding losses in exchange for swap won't recuperate that fast! ... it's 1.5pip(x10)/day -- I'm out
you have to do what you think is right mate
people leave, but this thread will go on for ever
Back in biz!

Hope everyone go green today.

Found this today. Doesn't bode well for Trump, either.

Trade safe.
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