Bid giving up on USDTRY, holding shorts. Will be quite a decent pay on carry trade costs to hold those overnight, worth it especially if it works out. Volatility is way higher than those chips payed for overnight carry but still it counts.
For anyone longing USDTRY "along the trend" without knowing whats going on, just a reminder, what happened in 2014 when Russian central bank made emergency surprise hike. Getting into wrong side of that is a suicide at least on short term basis. Tomorrow we might get panic and covering all over the place, being on wrong side of that is a doom awaiting for those positioned on TRY. Once 4.54 bid gives up this is likely a slide to go. Not worth staying up over night since spreads are bad to push shorts in, better plan to get rest and push it hard on mid London tomorrow.
symmerical doesn't mean just highs or lows at one line. It means legs inside the structure should be similar in size and shape.
It was explained many times by Jan, but still hard to grasp.
symmerical doesn't mean just highs or lows at one line. It means legs inside the structure should be similar in size and shape. It was explained many times by Jan, but still hard to grasp. {image}
Ignored
Well said, symmetry of behaviour, it covers many areas. If things are easy in trading one is either an AI in 2100 or a fake human pretending in 2018. None of those have any value. Figuring out symmetry is hard....unless it comes to biological things.
USDTRY shorts covered at break even. Markets did not twitch on rate hike at all, no further macro play on TRY, basically a neutral long term view until 24th June.
(binned per thread starter's request) Market bottom rotation trad
