Justinwjolly
Long

EURTRY - a case for trend continuation

FX:EURTRY   Euro / Turkish Lira
-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 https://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
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
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