EURTRY - a case for trend continuation
-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
Note
*asymmetric risk/reward tradeNote
Stop buy order inNote
Well worth watching a few TRY crossesTrade active
Note
Stop buy order in for an additional 50 basis points of riskNote
Second tranche order filledNote
1st tranche stop @ 4.71292nd tranche stop @ 4.6931
Note
Stop orders to break even of respective tranchesTrade closed: target reached
Closed out second tranche, remaining tranche will implement a 3 day trailing stopNote
Stop @ 4.8396Trade closed: stop reached
Trailing stop hit on last tranche @ 4.94895
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.