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Fundamentals still supportive!
Lira versus Yen did not go quite the way I had expected for November, mainly due to suprise US elections outcome. As it was not a fundamental reason for TRY or JPY, the general reaction just occured later - during the current week. 7th and 8th of december were when both lines I sketched previous month (resistance and downtrend) were succefully broken. I believed more and more that it had to happen as the situation evolved. There were no real fundamentally bad news from Turkey, except the President being against Central Bank's decisions. Finally, the negative terrorism and coup-like streak of news from Turkey seem to have ceased for a while, or even for a longer time.
We had Current Account deficit tightening to -1.68B (11 Nov), Budget Balance ameliorating to -0.1B (15 Nov, from -16.9B), most of rates in Turkey hiked on 24 Nov together with steady Manufacturing Confidence (103.7 24 Nov) and Capacity Utilization (staying 76.4% 24 Nov). On 29 Nov we have seen foreign arrivals decline stopped a little (-25.8% from -32.84%) signalling maybe a start of reversal of tourism stagnation. Trade balance also improved (-4.16B from -4.36B, 30 Nov), exports rose to …
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ak10 avatar
ak10 10 Dec.

Useful knowledge for trading.

Beto avatar
Beto 13 Dec.

Very technical and fundamental bias, really good job.
Only I think you could put at the end a very short conclusion about your theory to make it easy to all that people how do not like more even the technical analysis.
Best regards.

arjaq avatar
arjaq 13 Dec.

Beto  , what exactly do you mean? TRYJPY is not a very technical (still technicals do work here to a certain extent) pair in general, it moves basically driven by fundamentals or risk sentiment. What should a conclusion consist of here?

VictoriaVika avatar

Good luck in article contest, nice job.

k_morocco avatar
k_morocco 16 Dec.

great analysis , liked your fundamental point of view

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In the article below am going to discuss a way in which any Forex trader can predict the change market sentiment with over 80% accuracy. The method follows a three step process which are summarized below.
  • Trend line is broken
  • Retest and failure
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TInna avatar
TInna 9 Nov.

well done!

DaShik avatar
DaShik 10 Nov.

may be i'll try this one day. in this case i'll share my results with you))

scramble avatar
scramble 22 Nov.

Yep good way to spot possible trend change or at least a good swing !

brilliant avatar
brilliant 24 Nov.

trend is our friend tell it ends

yellownight avatar

good luck

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1.0 Introduction
Just like most traders, when I started out trading Forex, it was a very rough patch for me. I jumped from indicator to indicator and for each one I always felt like I was going to finally dominate Forex and maybe appear on Forbes within a month or so. But that was not the story. Trading Forex no matter how easy it may seem, choosing between buy or sale and being right is one of the hardest jobs on earth and yet the most profitable. But with time, I got to learn more about the market and my use of indicators faded because I just got that feeling of when I could look at market and immediately tell if to trade or stay away from trading. In this article I will discuss one of the things I look at when trading; the double tops and bottoms.
2.0 Double Tops and Double Bottoms
This is one of the most reliable price reversal formations and for people that trade XAU/USD I think they would strongly agree.
2.1 Double Top

A double top is a reversal pattern which is usually formed at the end of the strong bullish movement. The tops are formed when the price hits a certain level and that can’t be broken. When the price reaches this level, it bounces off slightly and then return…
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wmndave avatar
wmndave 22 Aug.

priceaction113 you wait for the second bottom to be formed and let the price retrace to the neckline

RIANNA avatar
RIANNA 23 Aug.

good work)

alec77 avatar
alec77 24 Aug.

Text book perfect:)

HOME avatar
HOME 28 Aug.

Always rely on the theoretical basis of practice

HOME avatar
HOME 28 Aug.

You do very well

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