USDTRY is flashing a buy signal today, we can enter longs immediately, risking 0.5% with a stop at 3.5053, or entering gradually, over the next 5 days, with 0.02 lots per 10k in the account, if you're more risk averse. Target is over 3.75 in the next couple weeks.
Good luck,
Ivan Labrie.
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It took a while, looks like it'll go up now.
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Target almost hit, good to trail stops higher and add. Stops at today's open are fine. You can add on dips after the close.
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You could trail stops to 3.75 now and double longs.
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Move stops to 3.7757
Double longs and move all stops there.
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If not stopped by the spread move stops to 3.7980 and let it ride.
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Trail stop to 3.8539 and double longs at market.
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Better exit here.
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Reenter with same size and this stop:
(nice discount)
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Place a stop at 3.8620
أغلقت الصفقة: تم الوصول لوقف الخسارة
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Trailed out in almost no loss...
Leave this pair be for a while, focus on buying dips in USDMXN and shorting EURUSD rallies for now. That's more than enough, regarding macro plays in FX.
This move down was quite strong... I was having good feeling that when markets open TRY will strenghthen (because of buying cheap stocks in BIST 100 index.
IvanLabrie
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@JA.piotr.bor, it should be about to bottom, be patient.
Cheers.
mmmp12
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@IvanLabrie, I guess it will be a good long when we touch 3.675-3.68 area - the break out of bull channel.
IvanLabrie
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@JA.piotr.bor, the weekly bar retraced quite far, I would leave it be for a good while. When a market makes such a huge move, it tends to go nowhere for a while.