\showgrid
\showframe[text][text]

\setupwhitespace[medium]
\setuplayout[grid=yes]

\definefontfeature
  [default]
  [default]
  [protrusion=quality,
   expansion=quality]
\setupalign[hz,hanging]

% Definition inherits, followed by setting up
\definedelimitedtext[parquote][quotation]
\setupdelimitedtext[parquote][method=font]
\def\parquotation#1{\startparquote{#1}\stopparquote}

% Provide protrusion for quotations.
\startmode[font]
  \setupquotation[method=font] % Toggle this line to see the effect.
\stopmode

\starttext
  \quotation{Love makes the world go round,}as an old proverb has it\ldots

  “Love makes the world go round,” as an old proverb has it\ldots

  \parquotation{Love makes the world go round,} as an old proverb has it\ldots

  \startquotation
    \input tufte
  \stopquotation

\stoptext