TomKirk
Long

USDCZK - Are EM currencies in trouble?

OANDA:USDCZK   USD/CZK
Everybody is fixated on USDTRY rally at the moment. As impressive of a move it has been thus far, (and devastating for Turkish nationals) there could be some more strong dollar currency trades that can be taken advantage of, perhaps ones such as this;

-10 Week Ascending triangle
-Bolinger band squeeze/expansion on the daily
-Boundaries are clear but not clean
-Measured move 23.3537

30 basis points of risk, Position trade strategy
Happy to have a resting order above boundary but until I have a daily bar into the next week to set a stop against, Stop will be last H4 rule

Comment: Buy stop order @ 22.58350
SL @ 22.3765
TP @ 23.3340
Comment: Dont really want to see my order filled during pre asia session but it very well could
Trade active: Order filled, I am nervous of a one day out of line move eventuating
Comment: Stop moved to low of last day @ 22.4285
Comment: Stop @ 22.453
Trade closed manually: Was closed manually on fridays close
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