-Strong trend, would take price into new all time highs
-15 Week continuation cup and handle
-Significant retests of boundary
-Price has since turned down, but is worth watching for an symmetric risk/reward trade
-Very similar pattern forming on GBPTRY worth looking at also
-Looking to establish 100 basis points of risk in two tranches
Also see youtu.be/1-SUKfiYhlw for a fantastic educational video on the cup and handle as a continuation pattern by Akel Kibar, an esteemed classical chartist
-15 Week continuation cup and handle
-Significant retests of boundary
-Price has since turned down, but is worth watching for an symmetric risk/reward trade
-Very similar pattern forming on GBPTRY worth looking at also
-Looking to establish 100 basis points of risk in two tranches
Also see youtu.be/1-SUKfiYhlw for a fantastic educational video on the cup and handle as a continuation pattern by Akel Kibar, an esteemed classical chartist
Comment:
*asymmetric risk/reward trade
Comment:
Stop buy order in
Comment:
Well worth watching a few TRY crosses
Trade active
Comment:
Stop buy order in for an additional 50 basis points of risk
Comment:
Second tranche order filled
Comment:
1st tranche stop @ 4.7129
2nd tranche stop @ 4.6931
2nd tranche stop @ 4.6931
Comment:
Stop orders to break even of respective tranches
Trade closed: target reached:
Closed out second tranche, remaining tranche will implement a 3 day trailing stop
Comment:
Stop @ 4.8396
Trade closed: stop reached:
Trailing stop hit on last tranche @ 4.94895