EURTRY trade ideas
EURTRY Carry Trade opportunityThere is a big opportunity to make profits using carry trading strategy.
If you open short position on EURTRY and hold it for a year, you will gain 15.9% on swaps.(usd account)
Example:
short position eurtry. volume 100k - 1 standard lot.
49.67$ will be paid to your account every time you hold your position overnight. (3 times over weekend).
In one year you will gain 18130$ on swaps.
If you use leverage 1:20. you will gain 218% on your margin (5700$).
Problems with trading EURTRY:
1) huge spread between ask and bid price.
2) market condition. there is a big challenge to find selling point now.
What is 'Carry Trade'
Carry trade is a trading strategy that involves borrowing at a low interest rate and investing in an asset that provides a higher rate of return. A carry trade is typically based on borrowing in a low-interest rate currency and converting the borrowed amount into another currency, with proceeds placed on deposit in the second currency if it offers a higher rate of interest or deploying proceeds into assets – such as stocks, commodities, bonds, or real estate – that are denominated in the second currency. - Investopedia article
Fall of Turkish economy We are currently LONG on this pairing, we are basing this on fundamental analysis with the state of the Turkish economy and banks. we are expecting it to break some more records again next week, so it is not to late to enter.
LONG LONGER LONGESTSo, I think we have a little break at Fib Level 2.618.
We have to watch as the pair can go back 1,618.
$EURTRY intervention risk high. Spiral looks prettyEURTRY intervention risk high. Spiral looks pretty
EURTRY Long pullbackBuy on support test after resistance is broken. Target is default Fib extension. Monitor it while it goes.
EURTRY needs some reversionTrying out a new charting technique, but based off of the naked eye, EURTRY looks like it needs to hop down in order to continue its parabolic advance.
EURTRY Buy IdeaEURTRY Buy Idea @Daily Demand Zone (5.11511 - 5.03711)
Buy Limit: 5.11591
Stop Loss: 5.02827
Take Profit: 5.31373
Is it about to drop?I'm a big fan of Gann Square and here is another idea:
Target: 3,83
When: 1.November 2018
Why:
- Arc number 5 was just completed (the last arc got hit), this indicates a descending path ahead.
- It might go a little further hitting the outer arc and a stop loss in this area would be an alternative.
- EW wave theory fits in.
- Local and global fibonacci level + Gann arc gives us the target.
- The peaks are getting more and more steeper, my gut says it will drop anytime soon:P
Note! This is a log scale chart.
EURTRY intradayEURTRY looks fine for an intraday trade. Just riding the waves. Be sure to have multiple profit targets on the way up so you will make sure you get paid.
Trade safely
Erdogan's Victory Can Spell Trouble For Lira BearsAfter a massive fall because of a hike in interest rates in Turkey, EURTRY bulls managed to stage a weak recovery within a corrective channel. I think the channel will be broken to the downside soon.
Good luck,
Ali Sharifazadeh, CFTe
